Impath, a provider of cancer information and testing, signed a strategic alliance with Franklin Health, a private company that contracts with self-insured employers, HMOs and other managed-care companies to provide information to their sickest patients. New York-based Impath said the alliance advances the company's goal of pursuing partnerships with payers. "Our relationship will play an important role as we continue to seek partners who will utilize our information services within the framework of their disease management program," says Anu D. Saad, the company's president and chief executive officer. Franklin Health, based in Upper Saddle River, N.J., provides information to patients with AIDS, cancer and other serious illnesses on their treatment options.
Integrated Living Communities, based in Bonita Springs, Fla., said it has acquired four assisted-living facilities and has signed a letter of intent to buy eight more, all in Virginia. Terms of the acquisitions weren't disclosed. The company also announced the closing of a bridge loan for $16 million from NationsBank. The company also plans to build several facilities in California. With its recent acquisitions, the company operates 20 assisted-living and other senior-housing communities in eight states and has seven more under construction.
Superior Consultant Holdings Corp., a Southfield, Mich.-based healthcare consulting firm, said it has acquired the Kaufman Group, a San Diego-based consultant to managed-care organizations and physician groups, for about $6.3 million in cash and stock. The group's president, Nathan S. Kaufman, will become a senior vice president of Superior Consultant Co., one of two subsidiaries created when Superior went public in October 1996. The other subsidiary, Unitive Corp., assists in designing and implementing information systems involving "groupware" and networks using Internet-derived technology. The acquisition broadens Superior's healthcare expertise, which has focused on information systems.
Healthcare Innovations, an Atlanta-based occupational medicine and rehabilitation services provider, said it has raised $21.8 million in equity financing. Austin Ventures led the investment group, which also included Sprout Group and SSM Ventures. Healthcare Innovations operates 12 rehabilitation clinics and three occupational medicine clinics in Alabama, North Carolina, Tennessee and Texas. The company plans to focus on reducing workers' compensation expenses by integrating rehabilitation and occupational medicine services. It also plans to pursue the acquisition of multiclinic rehabilitation providers in the Southeast and Texas.