News

Clinical Trial: Prostate Cancer Symptom Management for Low Literacy Men Tue, 27 Jul 2010 09:52:21 GMT A look at the following clinical trial: Prostate Cancer Symptom Management for Low Literacy Men

Clinical Trial: Helping African American Prostate Cancer Survivors and Their Partners Cope With Challenges After Surgery for Prostate Cancer Tue, 27 Jul 2010 09:46:26 GMT A look at the following clinical trial: Helping African American Prostate Cancer Survivors and Their Partners Cope With Challenges After Surgery for Prostate Cancer

Clinical Trial: Studying Genes, Environment, and Prostate Cancer Risk in Patients With or Without Prostate Cancer and Their First-Degree Relatives Tue, 27 Jul 2010 09:39:41 GMT A look at the following clinical trial: Studying Genes, Environment, and Prostate Cancer Risk in Patients With or Without Prostate Cancer and Their First-Degree Relatives

Clinical Trial: Anxiety in African-American Men With Prostate Cancer: Validation of the Memorial Anxiety Scale for Prostate Cancer in an African-American Sample Tue, 27 Jul 2010 09:34:36 GMT A look at the following clinical trial: Anxiety in African-American Men With Prostate Cancer: Validation of the Memorial Anxiety Scale for Prostate Cancer in an African-American Sample

Clinical Trial: Prostate Cancer - Qatar (Prostate CA) Tue, 27 Jul 2010 09:30:57 GMT A look at the following clinical trial: Prostate Cancer - Qatar (Prostate CA)

Clinical Trial: Magnetic Resonance Imaging in Detecting Cancer Progression in Patients With Early Stage Prostate Cancer Undergoing Active Surveillance Mon, 22 Mar 2010 11:12:44 GMT A look at the following clinical trial: Magnetic Resonance Imaging in Detecting Cancer Progression in Patients With Early Stage Prostate Cancer Undergoing Active Surveillance

Clinical Trial: Study of Antioxidants on Prostate Tumors in Men Undergoing Radical Prostatectomy for Prostate Cancer Wed, 17 Mar 2010 12:27:56 GMT A look at the following clinical trial: Study of Antioxidants on Prostate Tumors in Men Undergoing Radical Prostatectomy for Prostate Cancer

Clinical Trial: CyberKnife Radiosurgery for Organ-Confined Prostate Cancer: Homogenous Dose Distribution Wed, 17 Mar 2010 12:20:48 GMT A look at the following clinical trial: CyberKnife Radiosurgery for Organ-Confined Prostate Cancer: Homogenous Dose Distribution

Clinical Trial: Prostate Cancer Symptom Management for Low Literacy Men Wed, 17 Mar 2010 12:08:03 GMT A look at the following clinical trial: Prostate Cancer Symptom Management for Low Literacy Men

Clinical Trial: Studying Genes, Environment, and Prostate Cancer Risk in Patients With or Without Prostate Cancer and Their First-Degree Relatives Wed, 17 Mar 2010 11:48:42 GMT A look at the following clinical trial: Studying Genes, Environment, and Prostate Cancer Risk in Patients With or Without Prostate Cancer and Their First-Degree Relatives

Dietary Calcium May Boost Prostate Cancer Risk Tue, 27 Jul 2010 09:50:26 GMT Dietary calcium may raise the risk of prostate cancer among Chinese men, recent study findings suggest.

Pre-RALP MRI Can Improve Surgical Plans Tue, 27 Jul 2010 09:47:05 GMT Performing an MRI before a robotic-assisted laparoscopic prostatectomy (RALP) can help urologic surgeons make more informed decisions as to whether to spare the neurovascular bundle and thus preserve erectile function and continence.

BMD Testing Underused in ADT Recipients Tue, 20 Jul 2010 11:34:29 GMT CHARLOTTETOWN, Canada—Bone mineral density (BMD) testing and bisphosphonate use are significantly underused in men receiving androgen deprivation therapy (ADT) for prostate cancer (PCa), a new study suggests.

Coffee Not A Prostate Cancer Risk Thu, 15 Jul 2010 12:41:53 GMT Coffee consumption is not associated with an increased risk of prostate cancer, Korean researchers concluded in a report published online in BJU International.

Clinical Trial: Laparoscopic Pyeloplasty Registry and Database Tue, 27 Jul 2010 16:23:19 GMT A look at the following clinical trial: Laparoscopic Pyeloplasty Registry and Database

Clinical Trial: Extracorporeal Shock Wave Lithotriptor Indicated for Fragmenting Urinary Stones in the Kidney Tue, 27 Jul 2010 16:21:03 GMT A look at the following clinical trial: Extracorporeal Shock Wave Lithotriptor Indicated for Fragmenting Urinary Stones in the Kidney

Clinical Trial: A Prospective Comparison Between Ureteral Stent and Nephrostomy Tube for an Urgent Drainage of Obstructed Kidney (JJVsPCN08) Tue, 27 Jul 2010 16:14:56 GMT A look at the following clinical trial: A Prospective Comparison Between Ureteral Stent and Nephrostomy Tube for an Urgent Drainage of Obstructed Kidney (JJVsPCN08)

Clinical Trial: Study to Determine if There Are Specific Clinical Factors to Determine Stent Encrustation Tue, 27 Jul 2010 16:09:16 GMT A look at the following clinical trial: Study to Determine if There Are Specific Clinical Factors to Determine Stent Encrustation

Clinical Trial: Pharmacokinetic, Safety and Efficacy Study of OMS201 in Subjects Undergoing Retrograde Ureteroscopic Removal of Upper Urinary Tract Stones Tue, 27 Jul 2010 16:03:20 GMT A look at the following clinical trial: Pharmacokinetic, Safety and Efficacy Study of OMS201 in Subjects Undergoing Retrograde Ureteroscopic Removal of Upper Urinary Tract Stones

Clinical Trial: A Clinical Study of the Living Renal Transplantation With Restored Kidneys Between Family Members Tue, 27 Jul 2010 15:57:19 GMT A look at the following clinical trial: A Clinical Study of the Living Renal Transplantation With Restored Kidneys Between Family Members

Clinical Trial: Does Treatment With Alfuzosin Increase Success Rates of (SWL) Shock Wave Lithotripsy Mon, 26 Jul 2010 14:40:21 GMT A look at the following clinical trial: Does Treatment With Alfuzosin Increase Success Rates of (SWL) Shock Wave Lithotripsy

Clinical Trial: Use of Alfuzosin in Stone Treatment With ESWL Mon, 26 Jul 2010 14:36:24 GMT A look at the following clinical trial: Use of Alfuzosin in Stone Treatment With ESWL

Clinical Trial: Effect of Tamsulosin on Stone Expulsion and Pain Resolution in ED Patients With Ureterolithiasis (Flowmax) Mon, 26 Jul 2010 14:32:41 GMT A look at the following article: Effect of Tamsulosin on Stone Expulsion and Pain Resolution in ED Patients With Ureterolithiasis (Flowmax)

Clinical Trial: Study of Silodosin to Facilitate Passage of Urinary Stones Mon, 26 Jul 2010 14:29:06 GMT A look at the following clinical trial: Study of Silodosin to Facilitate Passage of Urinary Stones

Socioeconomic Status Affects Stone Formers' Dietary Habits Thu, 01 Apr 2010 10:34:53 GMT Socioeconomic status (SES) influences dietary habits, and this may strongly affect stone formation and recurrence, according to researchers at Emory University in Atlanta.

Doxazosin Effective for Clearing Ureteral Stones Tue, 30 Mar 2010 13:17:38 GMT Doxazosin significantly improves expulsion of distal ureteral stones, according to researchers in Pakistan.

New Urocit K Formulation Introduced Tue, 30 Mar 2010 10:52:02 GMT Mission Pharmacal Company has introduced the Urocit-K 15 mEq (potassium citrate) extended-release tablet.

Aetna, Continuum health care fight comes to end Wed, 28 Jul 2010 15:42:00 EST Barbara Benson - Aetna and Continuum Health Partners have finalized a three-year contract, slightly more than a week before thousands of New York-area patients covered by Aetna faced high fees to see doctors or hospitals in the chain. The new contract comes after months of intense, sometimes acrimonious negotiations. Aetna members have been out-of-network with Continuum since April 5. The new contract means in-network coverage for Aetna members will continue at the hospital system and with Continuum physicians, retroactive to April 5. Continuum and its doctors—including some 1,500 of Continuum's affiliated physicians—would have been out-of-network on August 5. Under the agreement, all Continuum facilities will participate in Aetna's network for all Aetna commercial and Medicare products, including Student Health plans. The insurer and Continuum did not release the terms of the agreement. But Continuum ultimately did not get the higher rates it had held out for, according to one source. "As with most negotiations, there was give and take on both sides and that is how we were able to come to an agreement," a Continuum spokesman said. Continuum Health Partners—which includes Beth Israel Medical Center, St. Luke's-Roosevelt Hospital Center, Long Island College Hospital and the New York Eye and Ear Infirmary—stopped participating in Aetna's network on April 5. Continuum and Aetna shifted into a 60-day, state-mandated cooling-off period through June 5, and then faced a final contract termination on August 5. David Kobus, Aetna's senior vice president of network for New York, previously had said that Continuum was asking for a nearly 40% increase in rates over three years, a request he called "unrealistic and unreasonable." During the months of negotiations, Continuum's top managed care executive, Senior Vice President Ruth Levin, had said the hospital chains' "request for each year's increases are significantly less than the annual premium increases Aetna is getting from it clients, and over three years is considerably less than 40%." Both sides had much nicer things to say publicly about each other Wednesday, after agreeing to their deal. "This agreement reflects the genuine commitment both parties have had to the process of negotiating an agreement that is in the best interest of all parties concerned—especially Continuum Health Partners' patients who are our members, and the many local businesses that pay for their health coverage," said Steve Logan, president of Aetna's New York market, in a statement. "Both Continuum and Aetna wanted to reach a fair agreement, and we are very pleased to let New Yorkers know we succeeded, and that we appreciate their patience during the process." Continuum Executive Vice President and Chief Financial Officer John Collura said in a statement: "Both sides worked tremendously hard to finalize this agreement. There were many challenges to overcome and much give-and-take from both parties. But, in the end, we believe that we have in place a new contract that is mutually satisfactory and one that preserves the working relationship between Continuum and Aetna and assures that Aetna's members will continue to have full access to the Continuum hospitals and our cadre of excellent physicians."

NYC Health Dept.'s first Grade A bestowed Wed, 28 Jul 2010 11:04:00 EST A small deli in Long Island City, Queens, will go down in local history as being the first business to earn a Grade A from the city's health department, which implemented its new restaurant inspection grading system on Tuesday. The agency is holding a press conference Wednesday morning at Spark's Deli on 2831 Borden Ave., where health commissioner Dr. Thomas Farley will laud the small business's accomplishment. Co-owner Jose Araujo was low-key about his new fame. “We serve a lot of hard-working people, construction crews and mechanics,” he said. “And now they'll know for sure that I provide good food.” On Tuesday an inspector visited his business, awarding him with a score of 10. According to the new letter grading system, in which restaurants receive either an A, B or C grade (or fail the inspection altogether), a score of 0 to 13 qualifies as an A. Later that evening, an official from the New York City Department of Health and Mental Hygiene called Mr. Araujo to ask whether the agency could hold a press conference at his place of business Wednesday. Other restaurants were inspected on Tuesday and earned A's, but Spark's was the first, according to health department officials. The agency will post the results of yesterday's inspection on its website today. Any business that received a grade lower than an A has the opportunity to appeal the inspection findings and will not be subject to public scrutiny—at least initially. Spark's Deli has been in business for 20 years, and Mr. Araujo has owned it for the past five with his cousin Tony Araujo. It's located in a commercial section of Long Island City. “We've done well in past inspections,” said Jose Araujo. “There's always something to fix or be done better, but we've never failed an inspection.” The deli serves hot platters such as chicken marsala and barbecued meats, as well as traditional deli fare like sandwiches and heroes. “We're most well known in this area for our grilled chicken,” Tony Araujo added. Restaurants like Spark's that receive an A will be inspected once a year, while those receiving a lower grade will get more frequent visits from inspectors.

Average time in a NY emergency room: 5 hours Tue, 27 Jul 2010 15:49:00 EST Esmin Green was admitted into Kings County Hospital Center in 2008 for agitation and psychosis. Almost 24 hours later, the 49-year-old woman died from a blood clot before even making it out of the Brooklyn hospital's waiting room. New Yorkers spent an average of five hours getting through the city's emergency rooms last year—18 minutes longer than in 2008, according to data released by health care consulting group Press Ganey. Indeed, the Empire State has the fourth worst average ER waiting time in the nation, behind only Utah, Kansas and Arizona, according to the report. Nationally, the average hospital waiting time is just over four hours, up four minutes from last year. Some hospitals are considering rearranging their patients' admissions to try to reduce their emergency rooms' waiting time. “The emergency department is as the mercy of inpatients,” said Christy Dempsey, senior vice president of clinical operations for PatientFlow, which is part of Press Ganey. Because there are a large number of inpatients with procedures scheduled earlier in the week, fewer beds are open for emergency room patients during those days. Many patients have elective procedures done earlier in the week because it allows them quicker access to physical therapy and occupational therapy. “By adding these services, like physical therapy and occupational therapy, on the weekend, it will stretch these operations out over the rest of the week,” said Sandra Schneider, a physician at Strong Memorial Hospital in Rochester, N.Y., and president-elect for the American College of Emergency Physicians. Another low-cost solution to this problem, developed at Stony Brook University Medical Center, is to move patients who would be waiting in the hallways of the emergency rooms into the hallways of the floors on which they will eventually be treated. This process can shorten emergency room waits up to several hours, said Dr. Schneider. “Rather than clogging up the emergency department, we move patients to beds faster and improve flow through the emergency department,” she added. Some 29 states saw an increase in wait times, including Utah, which saw average wait time increase by an hour and a half. This may be a result of changes in access to insurance and low numbers of staffed inpatient beds and registered nurses, according to the American College of Emergency Physicians.

Merck, Sanofi name CEO of animal medicine unit Tue, 27 Jul 2010 15:22:00 EST Merck & Co. and Sanofi-Aventis SA said Tuesday Raul Kohan will be the chief executive of their planned animal health joint venture, which is expected to be the world's largest maker of pet and livestock medicines and vaccines. Mr. Kohan, 58, is the president of Merck's animal health business, Intervet/Schering-Plough. The companies said Tuesday he will take his new position after regulators in the U.S., Europe and elsewhere approve the combination of Intervet and Sanofi's Merial animal health business. That could happen in the first quarter of 2011. The combined business, to be called Merial-Intervet, reunites Merck and Sanofi as partners. Merial was founded in 1997 as a 50-50 partnership of the two companies, but Sanofi bought out Merck's interest for $4 billion late last year. That deal was arranged to help speed approval from antitrust regulators for Merck's $41 billion purchase of Schering-Plough Corp. last November. The purchase enabled Merck to boost net income by slashing jobs and costs, expand its portfolio of drugs in development and diversify by adding Schering's businesses in biologic drugs and consumer health products. Mr. Kohan joined Schering-Plough in 1984, overseeing animal and consumer health care and later moving up to deputy head of animal health and senior vice president. He stayed on after Merck bought Schering-Plough. Current Merial Chairman Jose Barella will keep his job until the transaction closes. He joined Merial in 2001 and became chairman in 2007. Merck, of Whitehouse Station, N.J., and France's Sanofi-Aventis this spring said the combined business would have a share of about 29% in the $19 billion-a-year global market for medicines for pets and livestock. That's well ahead of the leader, Pfizer Inc.'s Fort Dodge unit, which has about 20% of the market. Animal health products are an attractive market because sales are growing at a steady 5% a year and products generally are not subject to generic competition. In addition, companies have more freedom to set prices without pressure from insurance plans. Merial sells two widely used pet medicines, flea-and-tick blocker Frontline and chewable heartworm preventer Heartgard. Intervet sells Panacur Plus, for preventing and controlling internal parasites including heartworm in dogs, and Plerion for treating roundworm and tapeworm infestations.

$273M Queens cancer center seeks rich foreigners Tue, 27 Jul 2010 13:15:00 EST Barbara Benson - Backers of a hugely expensive proposed proton beam cancer treatment facility in Jamaica, Queens, are pinning their hopes of winning the necessary state approvals on ties to several powerful local politicians. Currently the New York State Department of Health is reviewing three competing proposals for a proton beam facility in the area, including two in New York City. Proton beam technology allows radiation to be emitted in precisely focused cancer-killing doses, but the cost of building and equipping such a facility is more than $200 million. The cost is so prohibitive that currently there are only eight such centers in the U.S. The leading contender is a consortium of several of the city's leading hospitals: Memorial Sloan-Kettering Cancer Center, Beth Israel Medical Center, NYU Langone Medical Center, Mount Sinai Hospital, Montefiore Medical Center and New York-Presbyterian. They are pitching a $227 million facility proposed for West 57th Street in Manhattan. The hospitals will provide some equity, with additional financing arranged by their partner 21st Century Oncology, a national developer and operator of about 100 radiation therapy centers. A second contender is Vassar Brothers Medical Center, which hopes to join with New York-Presbyterian to open a $201 million proton-beam center upstate in Fishkill, N.Y. A $273 million center proposed for the former site of Mary Immaculate Hospital in Queens is the most controversial of the three, in part because of its heavy reliance on political muscle to carry the day. Officially known as The Proton Therapy Cancer Center of New York, or TPTCC NY, its backers are negotiating with the North Shore-Long Island Jewish Health System and SUNY Downstate Medical Center about a clinical affiliation with the proposed center. But against overwhelming competition from its Manhattan rival, the consortium of New York's most prestigious medical centers, the Queens project ranks as the distinct underdog in the race for approval. To improve its odds, TPTCC NY has enlisted the aid of three politicians. For openers, TPTCC NY is behind a Senate bill (S8419), sponsored by Sen. Majority Leader John Sampson of Brooklyn, that would make the state approve more than one of the three projects. Referred to the Senate rules committee on June 30, the bill reads “the operation of more than one demonstration site in a large city will better allow the Department of Health to test the efficacy, safety and cost-effectiveness of proton beam therapy. Furthermore, estimated demand for such services exceeds maximum capacity for a single site.” The Queens project has other politicians on its side. Sen. Charles Schumer and Rep. Ed Towns are supporting a controversial plan to help it raise capital. Its backers filed a request with the Department of Homeland Security to raise $250 million using the federal EB 5 foreign investment program. Under the proposal, 500 foreign investors will each put up $500,000, and as a result, if all conditions are met, will get permanent U.S. residency in return. Last month, Mr. Schumer wrote a letter to the U.S. Citizenship and Immigration Services in support of this proposal “to raise $250 million of foreign investment to construct a much-needed groundbreaking cancer treatment facility in New York City that will create an estimated 2,800 jobs and save countless American lives." In April, Mr. Towns penned a similar letter to the USCIS. “It is encouraging to have the opportunity to support a project with enormous potential to stimulate job creation and economic growth in New York by attracting foreign investor capital,” he wrote. TPTCC NY did not respond to requests for comment. The EB 5 foreign investment program is becoming a more common means of raising capital in a tight capital market. The program, for example, helped finance a big expansion begun earlier this month of Vermont's Jay Peak Ski Resort, including a hotel and water park complex.

NYC doctors, nurses arrested in Medicare scams Fri, 16 Jul 2010 10:12:00 EST Federal authorities said Friday they are conducting the largest Medicare fraud bust ever in five different states and arrested dozens of suspects accused in scams totaling $251 million. Several doctors and nurses were among those arrested in Miami, New York City, Detroit, Houston and Baton Rouge, La., accused of billing Medicare for unnecessary equipment, physical therapy and HIV treatments that patients typically never received. Ninety-four suspects were indicted, and authorities said 36 people had been arrested as of Friday morning. More than 360 agents participated in Friday's raids, announced by Attorney General Eric Holder and Health and Human Services Secretary Kathleen Sebelius at a health care fraud prevention summit in Miami. Officials said they chose Miami because it is ground zero for Medicare fraud. Authorities indicted 33 suspects in the Miami area, accused of charging Medicare for about $140 million in various scams. "With today's arrests we're putting would-be criminals on notice: health care fraud is no longer a safe bet," Mr. Holder said Friday. Cleaning up an estimated $60 billion to $90 billion a year in Medicare fraud will be key to paying for President Barack Obama's proposed health care overhaul. Federal officials have promised more money and manpower to fight fraud, setting up strike forces in several cities. Around the country, the schemes have morphed from the typical medical equipment scam in which clinic owners billed Medicare dozens of times for the same wheelchair, while never giving the medical equipment to patients. Now, officials say, the schemes involve a sophisticated network of doctors, clinic owners, patients and patient recruiters. Violent criminals and mobsters are also tapping into the scams, seeing Medicare fraud as more lucrative than dealing drugs and having less severe criminal penalties, officials said. For instance, agents bugged a medical center in Brooklyn, N.Y., where eight people are charged with running a $50 million scam that submitted bogus claims for physical therapy. Clinic owners paid patients, including undercover agents, in exchange for using their Medicare numbers and a bonus fee for recruiting new patients. Recording devices captured hundreds of kickback payments in a private room where a man sat at a table and did nothing but pay patients all day, authorities said. In a separate Brooklyn case, authorities indicted six patients who shopped their Medicare numbers to various clinics. More than 3,744 claims were submitted on behalf of one woman in the past six years. The patients did not receive the services billed to Medicare, authorities said. "Today's arrests illustrate how health care fraud schemes can replicate virally and migrate rapidly across communities," said Daniel R. Levinson, inspector general of the U.S. Department of Health and Human Services, which oversees Medicare. Federal authorities launched a strike force in Miami in 2007 to target the problem. The program has since expanded to seven cities and is responsible for more than 720 indictments that collectively have billed the Medicare program for more than $1.6 billion. Miami-Dade County received about $520 million from Medicare in home health care payments intended for the sickest patients in 2008, which is more than the rest of the country combined, according to a federal report. Only 2% of the patients live there. It used to take 90 days before the government detected a scam. By then, the crooks were long gone, sometimes with millions of dollars. Now authorities get billing data as it's submitted, allowing them to catch suspects in real time, "as opposed to the typical pay and chase model we've had for years," said Gerald Roy, assistant inspector general for investigations.

NY-Presbyterian again ranked high on U.S. News list Thu, 15 Jul 2010 12:29:00 EST The top hospitals ranking is out from U.S. News and World Report, so let the marketing frenzy begin. Hospitals nationwide have long used the list to market the excellence of their reputation, despite the fact that the rankings change little year to year among the nation's top ten. The New York City market is no different. New York-Presbyterian Hospital is ranked sixth in the nation and first among New York hospitals – making this the 10th consecutive year that New York-Presbyterian has been listed on U.S. News' prestigious “Honor Roll.” Memorial Sloan-Kettering Cancer Center took the number two slot nationally in cancer care, outranked by the University of Texas M.D. Anderson Cancer Center. The Hospital for Special Surgery is the nation's top hospital for orthopedics, and also snagged the rank third nationally in rheumatology, and sixteenth in neurology. The magazine's Best Hospitals report ranks 152 medical centers nationwide in 16 specialties. The Honor Roll highlights the top 14 hospitals that rank at or near the top in at least six specialties based on reputation, death rates, procedure volume and the balance of nurses and patients. New York hospitals were in the top ten in a number of the 16 specialties. Mount Sinai Medical Center was first in geriatrics, a category where New York-Presbyterian ranked seventh. New York-Presbyterian was the only New York hospital to make the top ten list nationally in diabetes care (7), psychiatry (4), kidneys (4) and heart/heart surgery (6). In gastroenterology, Mount Sinai ranked fifth nationally, while New York-Presbyterian ranked ninth. Two local hospitals were among the top ten in neurology and neurosurgery: New York-Presbyterian (4) and NYU Langone Medical Center (9). NYU Langone's Rusk Institute took the eighth slot for rehabilitation, and its Hospital for Joint Diseases was eighth in rheumatology – a treatment area where it was outranked by the Hospital for Special Surgery in the third slot. Overall, most of New York most prestigious hospitals won't get bragging rights in some of the biggest money-making specialties, such as cancer care, heart surgery and orthopedics. Mount Sinai Medical Center was thirteenth nationally in heart surgery, while NYU Langone was eighteenth. New York-Presbyterian and NYU Langone were 24 and 25 respectively in cancer care. And for the money-making hip and knee surgeries so heavily promoted on drive-time radio, the New York hospitals in the shadow of the Hospital for Special Surgery are the Hospital for Joint Diseases at 11 and New York-Presbyterian at 15.

Ex-CVS exec teams with Wilbur Ross on health care Wed, 14 Jul 2010 14:28:00 EST A new joint venture between investor Wilbur Ross and the former chief of CVS Caremark could put more than $1 billion into play in the health industry, the two announced Wednesday. Crawford-Ross pairs turnaround specialist Mac Crawford, former president, chairman and CEO of Caremark, with Ross who has stepped into numerous industries in distress, from airlines, to steel, to auto parts. The two plan to "build a major position in health care" by restructuring companies. Mr. Crawford was also chairman of CVS Caremark in 2007. He joined the company, then called Med Partners, in 1998 when it managed physician practices. Under Mr. Crawford it focused on pharmacy benefits management. The company, renamed Caremark, became the second largest pharmacy benefits manager in the U.S. in 2004 by buying AdvancePCS. CVS acquired Caremark in March 2007 for $26.5 billion. The company is the third largest pharmacy benefits manager in the country and it had about $13.5 billion in revenue in 2009. Private equity firm WL Ross & Co. has invested in health care, airlines, auto parts, banking, insurance, steel, and other industries over the last 10 years.

Paterson denies knowledge of gov't deal Mon, 12 Jul 2010 17:42:00 EST The state Insurance Department contract to Group Health Inc., once approved by federal officials, would provide up to $297 million in health coverage to uninsured New Yorkers with pre-existing medical conditions New York Gov. David Paterson says neither he nor his wife knew anything about a federal contract directed by the state Insurance Department to the company that employs First Lady Michelle Paterson before reading about it in Monday's New York Post. The contract to Group Health Inc., once approved by federal officials, would provide up to $297 million in health coverage to uninsured New Yorkers with pre-existing medical conditions over three years. GHI is a subsidiary of Emblem Health. Ms. Paterson is Emblem's director of integrative wellness. State Insurance Department spokesman David Neustadt says GHI was chosen because it is the only non-profit providing such service with almost statewide coverage. He says it can get 10% for administration costs.

Johnson & Johnson paying $480M for Micrus Mon, 12 Jul 2010 09:11:00 EST Johnson & Johnson said Monday it will pay $480 million for medical device maker Micrus Endovascular, adding a range of treatments for stroke and brain aneurysms. Johnson & Johnson said it will pay $23.40 per share, marking a 5.5% premium to Micrus' closing price on Friday. Both companies boards approved the deal, though it still needs shareholder approval. It is expected to close during the second half of 2010. Micrus, based in San Jose, Calif., makes a range of devices aimed at treating ischemic stroke and aneurysms. Johnson & Johnson makes a wide range of pharmaceuticals and medical devices. Its Codman & Shurtleff business makes a range of devices also aimed at treating brain aneurysms and neurovascular problems. Johnson & Johnson of New Brunswick, N.J., said the buyout could be slightly dilutive to earnings per share. The announcement comes as drug and medical device maker Covidien moves closer to buying the endovascular device maker ev3. Covidien said in June it would pay $2.6 billion for the company and recently completed its tender offer for the stock.