Foundation Medicine IPO Greeted with Open Wallets

Cancer-treatment company Foundation Medicine Inc. (FMI) held its initial public offering (IPO) Wednesday morning. The company sold 5.9 million shares at an offering price of $18 a share, above its proposed range of $14 to $16 for a total of 5 million shares. Following the offering the company will have around 27 million shares outstanding, not including the underwriters options on 833,300 additional shares.

At the IPO price the company raised about $106 million. Foundation Medicine expects to use its net proceeds to fund expansion, new and ongoing clinical trials, working capital, and general corporate purposes. The company plans to spend about $18 million to expand its sales force in the U.S. and internationally, another $12 million to fund clinical trials, and $10 million on both expanding its laboratory operations and infrastructure expansion.

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Foundation Medicine is a commercial-stage company that sells molecular information derived from its proprietary methods for analyzing cancer tumors to physicians and biopharmaceutical companies.

Shares have jumped about 78% shortly after noon, to $32.00 after hitting a high of $33.25.

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Foundation Medicine IPO Greeted with Open Wallets

Modernizing Medicine and Miraca Life Sciences Partner to Create Enhanced EMR and Pathology Lab Integration

BOCA RATON, FL--(Marketwired - Sep 25, 2013) - Modernizing Medicine, the creator of the Electronic Medical Assistant (EMA), a cloud-based, specialty-specific electronic medical record (EMR) system, and Miraca Life Sciences (MLS), a specialist in the development and commercialization of subspecialty expert anatomic pathology services, announced today that they are partnering to develop an enhanced diagnostic data bridge.

Pathologists normally analyze tissue samples with limited clinical background on patients, which can delay accurate diagnoses. EMA dermatologists and MLS pathologists will be able to share additional diagnostic information, which can help the pathologist create a more timely, informed and accurate analysis.

"This is truly the future of healthcare technology," said Dr. Michael Sherling, Chief Medical Officer and co-founder of Modernizing Medicine. "Structured data stored in the cloud with Modernizing Medicine's EMA EMR is the key to letting us share information with MLS. Working together, we intend to build an enhanced system to improve communications between dermatologists and pathologists which should ultimately help patients -- improved patient care through technology is what we're all about."

Modernizing Medicine's user-friendly EMA adapts to each healthcare provider's unique style of practice and integrates seamlessly into the practice's workflow, saving physicians and their staff time and increasing efficiencies. EMA's cloud-based approach to collecting and storing patient information enables physicians to utilize the EMA Network to create, visualize and consume treatment data to better care for their patients.

"Partnering with Modernizing Medicine is a natural fit, since we share the same goals of using technology to accelerate positive change in healthcare," said Richard Lash, MD, Chief Medical Officer of Miraca Life Sciences. "Miraca's existing structured data based on our consensus approach to diagnostic terminology and criteria will complement the rich clinical information provided by Modernizing Medicine, helping ensure the most definitive diagnoses for individual patients while creating a powerful database to help clinicians and pathologists improve patient outcomes."

Available as a native iPad application or from any web-enabled Mac or PC, Modernizing Medicine's EMA is developed by physicians for the dermatology, ophthalmology, optometry, orthopedics and plastic and cosmetic surgery markets. This year, Software Advice named EMA the #1 tablet EHR and the company was listed on Forbes' annual ranking of America's Most Promising Companies.

About Modernizing Medicine

Modernizing Medicine is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Its product, Electronic Medical Assistant (EMA), is a cloud-based, specialty-specific electronic medical record (EMR) system with a massive library of built-in medical content, designed to save physicians time. Available as a native iPad application or from any web-enabled Mac or PC, EMA adapts to each provider's unique style of practice and is designed to interface with hundreds of different practice management systems. Today, Modernizing Medicine provides specialty-specific offerings for the dermatology, ophthalmology, optometry, orthopedics and plastic and cosmetic surgery markets, and to more than 1,000 physician practices across the country.In 2013 Modernizing Medicine was listed at No. 47 on Forbes' annual ranking of America's Most Promising Companies.

About Miraca Life Sciences

Serving more than 3,500 patients each day, Miraca Life Sciences is a leader in providing an academic-caliber pathology laboratory with diagnostic services in the fields of dermatology, gastroenterology, hematology and urology. Building upon our experience with health IT, we also offer accessible technology solutions to assist healthcare professionals as they work towards accordance with Meaningful Use initiatives.

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Modernizing Medicine and Miraca Life Sciences Partner to Create Enhanced EMR and Pathology Lab Integration

ECONOMIC LIBERTY LECTURE SERIES – George Selgin ""Free Banking and the Economics of a Free Society" – Video


ECONOMIC LIBERTY LECTURE SERIES - George Selgin ""Free Banking and the Economics of a Free Society"
George Selgin is a Professor of Economics at the University of Georgia #39;s Terry College of Business. He is a senior fellow at the Cato Institute. His research...

By: The Future of Freedom Foundation

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ECONOMIC LIBERTY LECTURE SERIES - George Selgin ""Free Banking and the Economics of a Free Society" - Video

Liberty Media CEO Sees Benefits in A La Carte Proposal

While most TV network owners have spoken out against a la carte pricing of pay TV channels, Liberty Media CEO Greg Maffei on Wednesday said some kind of industry solution to recent programming disputes was needed if sector players want to avoid government intervention.

The "benign" and "positive" relationship between networks and pay TV distributors that used to exist has been strained by rising programming costs and recurring disputes, he said.

"If you don't have some market-based sensitivity, I think you do risk having intervention" from the government, Maffei told the Goldman Sachs Communacopia investor conference in New York.

Asked about a proposed bill from Senator John McCain based on the a la carte model, Maffei said "there are many positive attributes to it," even though he said he couldn't predict if the bill would pass.

Maffei also discussed the consolidation strategy of cable operator Charter Communications, in which Liberty earlier this year acquired a 27.3 percent stake. It has since been seen as potentially driving U.S. cable consolidation as Liberty chairman John Malone has always touted the benefits of size.

"I'm not sure we have to lead the charge," Maffei said. But he said high programming and network costs in the cable business make scale matter. "There are a lot of opportunities for synergies." He was asked about Time Warner Cable and smaller cable firms as possible targets, but simply said they would have different impacts.

Maffei also once again reiterated that Liberty likes Charter's outlook, management and low broadband penetration. In addition, there is the "incremental value option from M&A," even though this potential is so far unrealized.

Maffei on Wednesday also once again pushed for more usage based broadband pricing in the cable business, which he called "logical and fair" and a "reasonable proposition." He argued that "getting consumers attuned to that sooner rather than later" is important.

Maffei also described Sirius XM Radio as a long-term investment for his company.

E-mail: Georg.Szalai@THR.com Twitter: @georgszalai

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Liberty Media CEO Sees Benefits in A La Carte Proposal

Liberty Global CEO Fries Downplays Apple TV Threat

NEW YORK (TheStreet) -- Liberty Global (LTBTYA) CEO Mike Fries doesn't expect Apple (AAPL) to build a TV, amid speculation that Tim Cook and Co. are working on a strategy to upend the cable TV industry.

At the Goldman Sachs Communacopia conference on Tuesday, Fries, who heads one of the top cable providers in Europe, downplayed the threat Apple TV poses to traditional cable bundles and said conversations he had with Cook don't indicate that Apple will manufacture an actual TV.

"I don't think they're going to build a TV. They want to be in the interface business. They want essentially to get in between cable operators and customers," Fries said on Tuesday.

"That's a tricky proposition when you think about the economics of that and who wins and who loses and how you share revenue. So I don't anticipate any bold moves in our space from them but -- so they're not a big threat," he added.

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Liberty Global CEO Fries Downplays Apple TV Threat

Liberty Mutual Coach Of The Year Returns For Eighth Season, Honoring College Football's Top Leaders On The Field And …

BOSTON, Sept. 25, 2013 /PRNewswire/ -- Every year college football fans around the country come out to support their teams with great passion, showing pride for their gridiron heroes and alma maters. Liberty Mutual Insurance gives fans a daily opportunity to express that fervor by opening voting for the 2013 Liberty Mutual Coach of the Year Award, the only college football award that supports both charity and scholarship through its winners by celebrating one coach at each college level who best exemplifies responsibility, integrity, sportsmanship and excellence both on and off the field.

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Each of the Liberty Mutual Coach of the Year winners from four college football divisions FBS, FCS, Division II, and Division III receives $50,000 from Liberty Mutual Insurance to donate to the charity or charities of their choice. These funds have been used by winning coaches to benefit such organizations as Big Brothers Big Sisters, Habitat for Humanity, Lone Survivor Foundation, local Boys & Girls Clubs, Special Olympics and St. Jude Children's Research Hospital. In addition, winning coaches earn $20,000 for their school's alumni association to support scholarship. Since 2006, Liberty Mutual Insurance has awarded $1.8 million to more than 100 charities and colleges across the country through its Coach of the Year Award winners.

Now through December 3, fans can visit CoachoftheYear.com to cast their vote for their favorite coach in each of the four divisions. Additionally, fans can also vote for the first time on Facebook at Facebook.com/LMCoachoftheYear, where they also are encouraged to rally support for their coach through their social community. Winning coaches will be announced January 6, 2014, prior to the national championship game.

"The Liberty Mutual Coach of the Year Award stands for something unique, as it is not just about coaches' on-field success, but also their strong character and commitment to their student-athletes and communities," said Archie Manning, Chairman of the National Football Foundation & College Football Hall of Fame. "I am very proud to recognize, with Liberty Mutual Insurance and the National Football Foundation, some of the best leaders in the game today and welcome fans to do the same by casting their votes at CoachoftheYear.com and on Facebook."

Created in partnership with The National Football Foundation and College Football Hall of Fame, this year's campaign will also contain such new features as: voting on Facebook; exclusive video content featuring college football coaches; and original articles, photos and videos by a network of college student-correspondents.

Determining Finalists and Winners

Following the close of fan voting on December 3, the top 15 coaches with the most fan votes in each of the four college football divisions advance to an evaluation process to determine the finalists. This process utilizes an objective scoring model endorsed by the National Football Foundation and College Football Hall of Fame to measure coaching excellence, sportsmanship, integrity, academic success and community commitment.

From that model, 10 FBS finalists and five each in FCS, Division II and Division III will be announced December 10 at a press conference held in conjunction with the National Football Foundation Hall of Fame Class of 2013 induction in New York City. A finalist round of voting will then reopen for fans, while at the same time ballots will be cast by members of the College Football Hall of Fame and a select group of the national college football media to determine this year's winners. The 2013 Liberty Mutual Coach of the Year Award winners will be announced in Newport Beach, Calif., on Monday, January 6, 2014, in advance of the national championship game.

This year's recipients will join a fraternity of college coaches who have supported their players to achieve excellence both on and off the field. Most recently, the 2012 Liberty Mutual Coach of the Year Award winners were Brian Kelly, Notre Dame (FBS); Willie Fritz, Sam Houston State (FCS); Peter Rossomando, University of New Haven (Division II); and Glenn Caruso, University of St. Thomas (Division III).

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Liberty Mutual Coach Of The Year Returns For Eighth Season, Honoring College Football's Top Leaders On The Field And ...

Health Care Symposium Highlights Next Steps for Population Health

WASHINGTON, Sept. 25, 2013 /PRNewswire/ --The transition to population health management will require health care leaders to provide four kinds of leadership, former Senate Majority Leader Tom Daschle told nearly 300 health care executives and health policy experts on September 16 at The Advisory Board Company's 2013 National Population Health Symposium.

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Leaders must show resiliency, innovation, engagement, and collaboration, breaking down silos that prevent us from making our market more efficient, Senator Daschle said. "What we need now is leadership," he summarized.

Senator Daschle also believes that there is bipartisan agreement that the millions of uninsured citizens and skyrocketing spending must be addressed. "Those who advocate that we do nothing but the status quo are not likely to survive the next several years," he said.

The audience included more than 40 CEOs and more than 100 other C-suite executives from the nation's leading health organizations. The event brought together executives from across the continuum of care, including speakers from hospitals and health systems, physician organizations, post-acute care providers, policymakers, employers, and insurers.

Real-World Guidance on Population Health Management Speakers included Jonathan Blum, Deputy Administrator and Director for the Center of Medicare at the Centers for Medicare and Medicaid Services, and Farzad Mostashari, MD, National Coordinator for Health Information Technology at the U.S. Department of Health and Human Services. Other insights they shared:

More Critical Insights on Population Health More than two dozen other speakers at the inaugural event discussed what works in population health management. Industry leaders and health policy experts shared answers to that question in practical, nuts-and-bolts terms, including:

The Symposium's diversity of speakers and attendees, particularly in including post-acute care providers, is unusual for industry events.

"Bringing together health care industry leaders with health care policy leaders, the Symposium was propelled by the firsthand perspectives and insights of organizations who have enacted different approaches to navigating the transition to population health management," said Chas Roades, Chief Research Officer at The Advisory Board Company, a global research, consulting, and technology firm that works with 4,100 organizations across health care and higher education.

Roades also shared The Advisory Board Company's top insights on population health management at the event, including:

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Health Care Symposium Highlights Next Steps for Population Health

How mobile tech can transform health care

By Ron Gutman

FORTUNE -- Our country is facing a health care crisis. States are divided on Obamacare and Medicaid, and new legislation is not making any clear progress in increasing access to affordable health care. According to findings by the Urban Institute, nearly two out of every three uninsured low-income individuals some 9.7 million people who would have qualified for subsidized coverage under Obamacare might not receive it next year because their states have not expanded Medicaid. Also, according to a study by The Association of American Medical Colleges, we'll be facing a shortage of more than 90,000 doctors in the next five years.

While there have been a lot of gloom and doom articles about these significant health care challenges we're grappling with, there has been surprisingly little talk about the incredible technology solutions that are being developed specifically to combat these issues. Legislation is slow, but technology is fast. And there are many ways that we can begin to increase access to affordable care with technology.

A doctor's time is increasingly scarce and expensive. The only scalable, near-term solution is to enable physicians to be more efficient and manage more patients, while empowering them to improve the quality of care they can provide.

What if doctors used powerful mobile applications to remotely track their patients' treatment compliance and progress? What if they could provide patients with remote access to their expertise, or to other medical knowledge they trust? What if they kept in- person office visits to the time they're really required for longer, in-depth consultations?

MORE:Health apps don't save people, people do

Health care providers should be making use of new mobile technologies that will empower physicians to become "coaches of care," and facilitate significantly higher quality of care in every patient interaction. Instead of people waiting for weeks or months to get a rushed appointment where they receive second rate care, health care facilities can support the wide adoption of technologies that will enable doctors to remotely connect, monitor, and interact with hundreds, even thousands of patients.

And the technology behind this is not just conceptualit's here. Forget flat screen televisions and laptop computers without a doubt, our mobile smartphones and wireless tablets are the most powerful devices we own. With Google (GOOG) reporting an astonishing 1.5 million new Android devices activated every day, the future of health care truly is in the palm of our hands.

There are already some incredible startups developing mobile products that facilitate more efficient (and more economical) delivery of care. While these products, some of which are still in the early stages of development, won't replace or automate a doctor's job, they are great precursors for fostering a more transparent doctor-patient relationship.

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How mobile tech can transform health care

New Bouldering Instruction Video to be Released by Futurist Climbing Consultants and Veracity Insurance

Pleasant Grove, UT (PRWEB) September 25, 2013

The new video will be an educational resource distributed to over 200 commercial climbing facilities nationwide within the Veracity network with the intention of assisting facilities with indoor bouldering risk management issues. Through proposed modernized bouldering-specific Best Practices, this resource will serve staff, coaches and customers through promotion and demonstration of standardized methods of staff training, instruction and customer orientation of proper falling and landing techniques.

This initiative is taken in response to the growing popularity of gymnastic indoor bouldering, which is quickly becoming the dominant discipline within the sport of climbing amongst active users, youth teams and competitions.

The Art Of Falling video will be provided exclusively to commercial climbing facilities within the Veracity Insurance network in Fall 2013.

Futurist Climbing Consultants, Inc. is committed to providing leadership to enable the healthy growth of the sport of climbing by offering expertise in the area of sport-specific bouldering practices. Futurist provides consulting services and custom flooring products to the climbing industry.

Veracity Insurance Solutions, LLC is an insurance brokerage firm specializing in Product Liability, the placement of programs, and General Liability. With over 30 years of combined experience in the insurance industry, specifically including the climbing industry, Veracity has in-house underwriting authority and access to several key wholesale brokerage markets.

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New Bouldering Instruction Video to be Released by Futurist Climbing Consultants and Veracity Insurance