Noteworthy

Maggio Introduces the Rules Engine: Twenty-year health care industry consultant Terri Maggio has developed the Rules Engine, a software package that allows home medical equipment providers, pharmacists and physicians to look up Medicare coverage and payment rules all on one screen. The Rules Engine works in conjunction with providers' existing billing software.

People & Places

Sun Dismisses Two Top Executives: Albuquerque, N.M.-based Sun Healthcare Group asked its two senior finance executives to resign. Former chief financial officer Robert Woltil said he and company treasurer Matthew Patrick left the company on July 23. He said neither was given a reason for their dismissal.

Replacing Patrick is Robert Schneider, 53, former treasurer of Hillhaven Corp., a Seattle-based nursing home operator that was sold in 1995 to Vencor. No replacement for Woltil has been named.

Bernauer to Become CEO of Walgreen: Effective Jan. 9, 2002, Deerfield, Ill.-based Walgreen president David Bernauer will become chief executive officer, replacing current CEO and chairman Daniel Jorndt. Jorndt will continue to serve as chairman.

Alliances

Industry Veterans Form Med Runners: Terry Mulkey, former senior vice president of sales for Longmont, Colo.-based Sunrise Medical, and other industry veterans have formed Med Runners, a national sales representation and consulting company. Based in Boulder, Colo., the company will focus on the North America home care, respiratory and rehab markets.

Financials

Coram Files Second Joint Plan of Reorganization: Denver, Colo.-based Coram Inc. and its Coram Healthcare subsidiary filed their second joint plan of reorganization and disclosure statement with the U.S. Bankruptcy Court. Coram filed for Chapter 11 bankruptcy protection in August 2000.

According to the company, the second reorganization plan differs from the first by increasing from $2 million to $3 million the distribution to Coram's general unsecured creditors. It also facilitates a consensual resolution with equity interests, distributing a new voluntary contribution of up to $10 million in cash to the stockholders of Coram Healthcare on a pro rata, per-share basis.

As proposed in the initial plan of reorganization, Coram would emerge from bankruptcy as a privately held company and its note holders would own 100 percent of the stock. The second plan is subject to approval by the Bankruptcy Court.

Horizon Files for Chapter 11: Financially embattled Denison, Texas-based Horizon Pharmacies will sell off its retail pharmacy operations as part of its voluntary filing for Chapter 11 bankruptcy protection last week.

The company's second standstill agreement with its senior lender — McKesson Co. — expired on July 18. Horizon said that coinciding with its bankruptcy filing it had closed a $2 million debtor-in-possession line of credit with McKesson.

Three of Horizon's subsidiaries — Horizon Home Care, HorizonScripts.com and Jones Low Priced Drugs — also filed voluntary petitions for bankruptcy protection.

Milestones

Cambridge Home Health Opens New Office, Awards Scholarships: Akron, Ohio-based Cambridge Home Health Care has opened its 15th office. Located in Warren, Ohio, the office is overseen by Mary Cernava. The company also has awarded nursing school scholarships of $1,000 each to Julie Crow, Akron, Terrie Cato, Ashland, Pamela Bell, Akron, and Janice Franklin, Akron.

I-Flow Receives Platinum Abby Award: Lake Forest, Calif.-based I-Flow received a Platinum Abby Award from the Adaptive Business Leaders Organization for providing innovative health care products, services or methodologies to patients while keeping them affordable.

Convaid Celebrates 25 Years: The Torrance, Calif.-based Convaid staff of more than 80 people is celebrating 25 years of providing its customers with pediatric folding and positioning chairs.

Mergers & Acquisitions

Star Sells Assets to Premier, Terminates Agreement with NHHC: Huntington Station, N.Y.-based Star Multi Care Services has signed a definitive agreement with White Plains, N.Y.-based Premier Home Healthcare Services in which Premier will acquire for $5.5 million certain assets of Star subsidiaries in New Jersey and New York.

Star's deal with Premier terminates Star's former non-binding agreement with National Home Health Care, which was planning to acquire the New York and New Jersey assets.

Option Care Acquires Infusion Assets of MedCare: Bannockburn, Ill.-based Option Care continued on the acquisition trail, acquiring the infusion therapy assets of MedCare @ Home, which services the Dallas-Fort Worth area.

Under the agreement, financial terms of which were undisclosed, MedCare will continue to provide home nursing services to patients, but will use Option Care on a preferred provider basis for their home infusion therapy needs.

Park Acquires Four Pharmacies in Texas: Dallas-based Park Pharmacy has acquired four pharmacies from Medicine Man Inc. for $1.85 million. The four pharmacies provide infusion pharmacy, compounding pharmacy and hospice services.

The Mann Group Acquires Georgia Baptist: Atlanta-based The Mann Group has acquired Georgia Baptist Home Care Services, a home health care network serving 16 counties in Georgia. Details of the transaction were not disclosed.