Health Systems Design Corp., an Oakland, Calif.-based developer of managed-care information systems, earlier this month commenced an initial public offering of 1.7 million shares of its common stock at $13 a share. HSD is selling 1.6 million shares to the public. The remaining 100,000 shares are being sold by two current stockholders. The company's shares will trade on the NASDAQ system. San Francisco-based Volpe, Welty & Co. is the lead underwriter. HSD said it intends to use the proceeds to repay debt and for working capital, software development, capital expenditures and general corporate purposes.
The Wood Co., Allentown, Pa., has acquired Venture Management Services, a food service company based in Pittsburgh, for an undisclosed amount. Venture has contracts with three hospitals and two other healthcare facilities, along with an education account and two business dining accounts. Bill Edmundson, Wood's chief executive officer, said the purchase will help his company get more accounts in the Pittsburgh area. Wood provides food and nutrition services to 300 clients in the mid-Atlantic region, including 31 hospital facilities. It also serves nursing homes, specialized healthcare facilities and retirement communities.