Neovasc to postpone U.S. stock listing
Neovasc (Vancouver, British Columbia) said that it has voluntarily filed a Form 15 with the SEC in order to deregister its common stock. As a result, Neovasc's obligation to file annual reports and furnish other information under the Exchange Act is suspended.
The company's decision to deregister its Exchange Act registration is part of its larger plan to reduce discretionary expenses and allocate the cost savings to the further development and commercialization of its highest potential products. Neovasc will continue to undertake all activities required to maintain its Canadian public listing on the TSX Venture Exchange.
The company's decision to postpone its plans for a U.S. listing is based upon the additional financial and administrative costs and burdens associated with being a publicly traded company in the U.S. and therefore subject to the additional reporting regulations promulgated under the Exchange Act.
Neovasc estimates the cost savings from suspending its planned listing to be about $200,000 annually. The company said it intends to redirect these funds to its program to commercialize the Neovasc Reducer for the treatment of refractory angina and to further expansion of the company's custom tissue business.
St. Joseph Hospital gains SCPC accredidation
St. Joseph Hospital (Orange, California) has been designated with accredited status by the Chest Pain Center Accreditation from the Society of Chest Pain Centers (SCPC; Columbus, Ohio).
"The Chest Pain Team at St. Joseph Hospital demonstrated its expertise and commitment to quality patient care by meeting or exceeding a wide set of stringent criteria and completing on-site evaluations by a review team from the Society," said Kevin Lundon, VP, Operations at St. Joseph Hospital.
St. Joseph Hospital underwent a rigorous re-evaluation and refinement of heart care processes in order to integrate the industry's best practices and newest paradigms into its cardiac care services.
ikaSystems relocates corporate headquarters
Following a year of intensive sales activity, ikaSystems (Southborough, Massachusetts), a provider of enterprise-level web-based technologies for the healthcare payer market, has relocated its corporate headquarters and hired additional sales executives to accommodate its explosive growth.
ikaSystems' headquarters remains in Southborough, Massachusetts, but has moved from 257 to 134 Turnpike Road to a state-of-the-art facility specifically designed to facilitate the company's rapid development and deployment methodologies.
KCM Holding plans registrations in 2010
KCM Holdings (Frisco, Texas) reported that it aims to complete three public registrations in 2009 and early 2010, after profitably weathering the worst economy in decades. KCM registrations are part of its incubation of companies in the healthcare, technology and alternative investment sectors.
KCM focuses its operations on the incubation of companies with little to no debt and have the ability to go to scale quickly across multiple sectors. KCM's first two registrations will be:
• CT Dental America (www.ctdentalgroup.com), a dental products, prosthetics, dental education and lifestyle member organization, projecting revenues of $120 million by its 4th year of operations.
• Geenius (www.geenius.com), a Web 3.0 company that has developed a social networking platform combined with a powerful user created content revenue model, and backed by a patented knowledge transfer technology. Geenius projects annual revenues of $300 million within five years.
The third registration will be in the Alternative Investment sector, with more details to be released soon.
HITRUST forms leadership roundtable
The Health Information Trust Alliance (HITRUST; Frisco, Texas) said it has formed the Leadership Roundtable to support the growing role of the healthcare chief information security officer (CISO), as corporate responsibility for the protection of electronic health information. The company says the new forum is the first to bring together information security executives representing the diverse segments of the healthcare industry - from providers, health plans and pharmacies to distributors, health data exchanges and pharmaceutical manufacturers – and help advance their careers through networking, learning and driving industry direction.
"Health organizations are required to address security and privacy risks to ever increasing levels. The protection of information can be significantly accelerated when embraced as part of an organization's cultural DNA. The HITRUST Leadership Roundtable is helping define what information security leadership means to a healthcare organization as well as the industry at large and is an invaluable resource for information security leaders," said Michael Wilson, VP/chief information security officer, McKesson.
Goodroe approved for 14th gainsharing project
Goodroe Healthcare Solutions (Atlanta) reported that the Office of the Inspector General's (OIG) has approved Goodroe's fourteenth gainsharing project in seven years. This project includes cardiologists, radiologists and vascular surgeons. This approval is also Goodroe's thirteenth cardiac-related gainsharing approval.
This announcement came after three of the nation's major health care associations, The American Hospital Association, Federation of American Hospitals and Association of American Medical Colleges, expressed their support for Goodroe's gainsharing model earlier this year.
Gainsharing allows hospitals to share cost savings with the physicians who help them improve operational efficiencies. Currently, Goodroe's gainsharing model is used in clinical areas where physicians control the majority of costs, such as cardiac catheterization procedures, open heart surgery and orthopedic and spine procedures.