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Biotech / Medical : Covalent Group Inc (CVGR) an undiscovered CRO -- Ignore unavailable to you. Want to Upgrade?

To: Clayleas who wrote (27)	11/17/1997 10:18:00 PM
From: JanyBlueEyes	Read Replies (1) \| Respond to of 107

Covalent Group, Inc. Announces Stock Buy Back WAYNE, Pa., Nov. 14 /PRNewswire/ -- Covalent Group, Inc. (Nasdaq Bulletin Board: CVGR - news), announced today that its Board of Directors authorized the repurchase of up to 200,000 shares of the Company's common stock from time to time on the open market. Bruce LaMont, President and Chief Executive Officer commented, ''The Company believes that our stock is currently undervalued based on favorable opportunities, as well as our substantial backlog. Therefore, this appears to be an opportunity to reduce dilution and/or use any of the repurchased shares for its stock option or other employee plans.'' Covalent provides drug development and health management solutions to drug and device manufacturers, as well as to managed care organizations. To aid its pharmaceutical and managed care customers, Covalent has developed an automated data collection system using an interactive voice recognition system -- Virtual HouseCall(TM).