Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Tom Hua who wrote (17563)	2/26/1999 1:53:00 AM
From: BDR	of 18691

Re:PDX <<The company announced the acquisition of a tiny med group in Tacoma with only three doctors, and the stock jumped 25%.>> There was also this on 2/24: Analyst Action: First Union Cap Mkts upgraded PDX from Outperform to Buy quicken.excite.com It sure is hard scanning the press releases for news about this company when 9 out of ten releases are about class action lawsuits. It would appear that the only way for this company to grow revenues is through acquisitions as revenue from the same sites of service grew in the mid-single digit range. Given the financial mess that medicine is in I don't see revenue for physician services as being a source of terrific revenue growth. As an aside, here in Phoenix CIGNA, after holding pay for their employed primary care docs unchanged for five years, announced a 20% decrease in physician salaries. Some were able to negotiate a 10% or 5% decrease but others will be let go if they if they don't take it or leave it. With the stock volatility being what it is now I think it will be hard to convince docs to take stock as part of any practice buyout. Cash only, no monopoly money please.

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