Qualcomm looks at its options for LifeComm: It’s been more than four years since Qualcomm first announced plans to help launch a healthcare-focused mobile phone service called LifeComm. Qualcomm and its (still) undisclosed partners recently decided it was time to pull the plug on LifeComm, after failing to raise additional third-party funding, an anonymous source told mobihealthnews. LifeComm is just one of many of Qualcomm’s health initiatives.
Software / IT
MedVentive raises nearly $5 million in equity offering
MedVentive Inc. raised nearly $5 million in an equity offering, according to a filing with the federal Securities and Exchange Commission.
The Waltham-based healthcare management software provider, which was looking to raise a total of $7.25 million, managed to drum up $4.86 million from a group of six unidentified investors.
MedVentive was founded in 1997 by the CareGroup Healthcare System, a network of 3,000 physicians, six hospitals and more than 1 million patients that includes Boston’s Beth Israel Deaconess Medical Center.
Phase Forward to buy Covance interactive service for $10 million
Phase Forward Inc. will pay $10 million for Covance Inc.‘s Interactive Voice & Web Response Services in a deal expected to close by the end of next month.
The Waltham-based clinical trial data solutions provider also inked a multi-year marketing deal with Princeton, N.J.-based Covance to supply its InForm electronic data capture solution to Covance’s clients.
Weekly Wireless Roundup: Reimbursement rate cut
Wireless health reimbursement rate cut: After months of rumor and analysts’ speculation, Highmark CMS cut the reimbursement rate for wireless cardiac monitoring MCOT services from $1,123.07 to $754. While some analysts were anticipating a rate drop on the order of $200 for the past few months, the rate cut was almost double that. CardioNet, the only pure-play wireless health company that has gone public, is credited with creating the reimbursement codes for MCOT or wireless cardiac monitoring after receiving them in the first quarter of this year.
Weekly Wireless Roundup: Roche gets into wireless health; Sequoia Capital gets into arrhythmia and an Apple exec gets into VC
Brian Dolan, mobihealthnews.com
Roche tests the wireless health waters: MYLEstone Health, developer of the Glucose Buddy iPhone app, is working with Roche Diagnostics’ Accu-Chek to add its educational program to the Glucose Buddy diabetes management app. Even though the addition of Accu-Chek’s educational program to the iPhone app is a far cry from meter integration, MYLEstone co-founder Matthew Tendler told mobihealthnews, it’s a step in the right direction and will bring substantial value to iPhone users with diabetes. More
Siemens and UMass Memorial Health Care ink HIT pact
The four community hospitals and one academic center that make up the UMass Memorial Health Care system will use a suite of healthcare IT products made by Siemens for the next seven years.
The more than 1,100-bed hospital system will use the company’s Soarian healthcare information systems product lines, according to a deal the two parties inked. Specific terms of the agreement were not announced.
Weekly Wireless Roundup: Wireless help for obesity
Brian Dolan, mobihealthnews.com
GE to drop $100 million on EMR adoption
GE Healthcare and the conglomerate’s financing arm, GE Capital, launched a $100 million program aimed at accelerating adoption of its suite of electronic medical records products.
Athenahealth inks deal with Maine’s largest physician network
About 4,000 physicians in Maine will have access to a suite of electronic healthcare records and billing software made by Athenahealth Inc., thanks to a new alliance announced earlier in the week.
The Watertown-based electronic health care records company said it will provide its products to the Medical Network Inc. of Maine, an independent physicians’ network of 4,000 doctors, allied health providers, ancillary facilities and hospitals spanning the entire Pine Tree State.
Byers to step down at Athenahealth
Carl Byers, the CFO who helped take Athenahealth Inc. from its early start-up days through an initial public offering and finally to profitability, will step down in early 2010.
Byers, 37, said he’s leaving the Watertown-based electronic healthcare records company to “pursue a family goal to live abroad.” He will also relinquish his role as company treasurer. Officials at Athenahealth said he will work with the company’s search committee to appoint his successor.
Amicas stockpiles Q1 cash to pay for Emageon merger
Amicas Inc. quintupled its cash on hand during the first quarter of 2009 to pay for its $39 million merger with Emageon Inc..
Boston-based Amicas, which makes medical imaging software and services, reported $35 million in cash from investment activities during the three-month period ended March 31, a nearly five-fold increase from just under $8 million the company reported for the same period last year.