First Option Health Plan of New Jersey has acquired Individualized Rehabilitation Programs for $900,000 in cash and commitments to make additional payments in 1994 and 1995 based on net sales. First Option expects to pay an additional $600,000 for 1994. Hasbrouck Heights, N.J.-based IRP specializes in the treatment of work-place and other accidental injuries. The company, to be renamed First Managed Care Option, will become a wholly owned subsidiary of First Option. Red Bank, N.J.-based First Option is a managed-care company owned and operated by hospitals and physicians.
Cerner Corp., a Kansas City, Mo.-based information systems vendor, reported record revenues and earnings for the third quarter and nine months ended Sept. 30. Revenues for the quarter increased 27% to $40.9 million, while net earnings increased 24% to $5.1 million, compared with net income of $4.1 million in the year-ago quarter. For the nine months, revenues increased 29% to $111.2 million, while net earnings increased 35% to $7.9 million, compared with $5.9 million in the same period last year. In the third quarter, publicly traded Cerner signed an agreement with Quorum Health Resources to provide access to selected clinical and financial information systems installed in data centers owned by Cerner. Quorum owns or manages more than 300 facilities in 47 states.
TransCare Corp. has completed the purchase of nine patient transportation companies in the New York region. Financial terms weren't disclosed. Dallas-based TransCare is a new company founded by Donald E. Strange, former chief operating officer of Epic Healthcare Group, Dallas. The nine New York-area companies will operate under the name TransCare New York and service Brooklyn, the Bronx, Long Island, Manhattan, Queens, Staten Island, Westchester County and northern New Jersey. The company's fleet includes more than 100 ambulances.