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Biotech / Medical : SLMD, SpaceLabs Medical, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (11)	12/6/1999 7:51:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 17

10/25/99 CDA-Investnet Insiders' Chron. 20 1999 WL 8492627 First Call/Thomson Financial Insiders' Chronicle Copyright 1999 Information Access Company. All rights reserved. COPYRIGHT 1999 American Banker-Bond Buyer Monday, October 25, 1999 Volume 24; Issue 43 Micro-Cap CORNER. FULL TEXT Ready for BLAST-OFF? It is a happy time in the animal kingdom:Blue Rhino (RINO) has marriedBison Valve. The gas grill cylinder exchange company acquired Bison Valve Assets in mid-September, attracted by Bison's overfill prevention devices. Blue Rhino expects that the acquisition will be accretive to earnings in FY 2000. Even if it isn't, the company has other things to celebrate. The core business of cylinder exchange is doing well, as same-store cylinder exchanges were up 25% in the last quarter. Also, the company has begun to ship an additional product, patio heaters. Insiders are evidently enthusiastic, as they are buying shares in striking numbers. From September 7 through 27, four insiders purchased 140,943 shares at prices ranging between $7.00 and $7.88 per share. Leading the way was Vice Chairman Andrew Filipowski, buying more than 135,000 shares. Director Jerald Shadley and CFO Mark Castaneda also took part, purchasing 3,500 and 1,350 shares, respectively. Spacelabs Medical (SLMD) may also be on the launch pad. The stock looks to be a compelling value play, as evidenced by the fact that nearly 9% of the company has been acquired by a syndicate touting venerable value/contrarian investment group Tweedy Brown. Insiders have also been moving in. From August 16 through October 15, three insiders purchased 22,000 shares at prices ranging from $13.50 to $15.00pershare. And perhaps with reason. The company has recently presented its Ultraview Anesthesia Delivery System, a product that regulates the flow of anesthetic agents and gases during surgery. The product's "intuitive design makes it easy to use in the busy surgical theatre" -- not a bad characteristic when you stop think about it. In addition, the company announced an alliance with private software firm Cedaron Medica, by which the Spacelab Pyramis Cardiology Information Management System will be enhanced with new functionality. Utilizing additional forms of more advance technology, the company has just update d its Caremaster Data Repository system to the web. Also, another product the Ultraview Digital Telemetry system, made its debut in July. The new product will provide both ECG-only and multiparameter monitoring of ambulatory patients. Unless you have a medical background, all of this probably means nothing to you. However, this most likely does: All of the events described above have had positive effects that have contributed to a black bottom line. On a year-to-date basis, the company has actually turned a fairly considerable profit, contrast to the loss it generated in the comparable period last year. The market has continued to ignore the stock, however, and it is trading at all-time lows. Market apathy has quite possibly created a buying opportunity for Spacelabs; atleast insiders and some reputable value investors evidently think so. Finally, unlike those at the climax of 80's movie, Cocoon, these seniors aren't likely headed into outer space anytime soon. Or, atleast the stock isn't. Shares of Diversified Senior Services (DISS) have been drifting gently downward all year. But insiders appear confident. From August 5 through September 30, two insiders purchased 31,100 shares at prices ranging between $3.38 and $3.56 per share. Fundamentals appear to be improving at the tiny company. On a year-to-date basis, reported revenues are up more than 75%, and net operating profit is just that (as opposed to the loss generated in the comparable period in 1998). For what it's worth, management has indicated satisfaction with the occupancy rates at the two new 60-bed/ 60-door facilities opened this year, and two more 30-bed facilities are also in the pipeline. Make no mistake, this is a company that has yet to do anything to impress the market. And there is certainly no promise that the future will be any better, but recent insider behavior, coupled with improving fundamentals and ongoing expansion plans, may say otherwise. ---- INDEX REFERENCES ---- KEY WORDS: APPLIANCE CONTROL VALVES; ANESTHESIA APPARATUS; NURSING & REST HOMES; UNITED STATES INDUSTRY: Health Care Providers (HEA)