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Biotech / Medical : Medaphis
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To: scott who wrote ()5/12/1997 4:10:00 PM
From: Rick Smith   of 67
 
Seems like something is going on again. My sources tell me that the road show for the spinoff of Healthcare Recoveries is going very well. If that's true, they may be able to bring the deal at the high end of the 13 to 15 range. Since management has stated that the proceedss will go to pay down debt, the IPO will effectively reduce MEDA's debt to equity from 60% down to 30%, while nominally reducing FY97 earnings from $680 million to $640 million. Seems very positive!
TA shows me a long basing pattern and while I generally don't buy stocks until they violate their lower band, I went long this afternoon based on a gut feeling that some analysts are going to have MEDA back on their radar screens, which should help to move price up.
Anybody have any ideas that I haven't thought of on these presumptions?
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