Advanced Health may spin off unit - Business Week
NEW YORK, June 4 (Reuters) - Advanced Health Corp. (ADVH - news), a medical practice
management company, may spin off its Advanced Health Technologies unit to shareholders,
Business Week reported in its June 15 issue.
The magazine said the unit, which sells information technology to doctors and hospitals, is expected
to contribute $15 million of revenues this year and about $25 million next year.
Louis Riley III, who heads Riley Capital Research, said the unit, valued separately, would command
about $7 per share.
Advanced Health stock on Thursday closed at $13.31 a share, up $1.125, on the Nasdaq.
Riley told Business Week the medical practice business should turn in $120 million in revenues, up
from $49.5 million in 1997. He valued the unit at $27 per share.
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