OSI Reports 4th Quarter Results (Spacelabs)
OSI lost money in the year ending June 30, 2005. The company reported a
net loss of $3.2 million. Revenues increased 56% to $385 million.
Revenue growth was mainly the result of the acquisition of Spacelabs
and Blease Medical. Here's the Healthcare Group blurb:
The Healthcare Group reported revenues of $51.1 million for the
fourth quarter of fiscal 2005, compared to $45.4 million reported for
the fourth quarter of fiscal 2004. For the fiscal year ended June 30,
2005, revenues increased by $135 million, to $195.7 million from $60.7
million for fiscal 2004.
Income from operations for the fourth
quarter of fiscal 2005 was $2.4 million, after Spacelabs-related
amortization and retention expenses of $786,000. For the fiscal year
ended June 30, 2005, income from operations was $8.4 million, after
Spacelabs-related amortization and retention expenses of $3.2 million.
The results for the fourth quarter and fiscal year 2005 were favorably
impacted by a change in the Healthcare Groups' estimated warranty
provision of approximately $2.1 million pre-tax due to lower than
expected warranty claims on a specific product.
It seems that OSI looks to wring some cash out of the Healthcare Group.
for its various business units. The company's Healthcare Group has
grown from approximately $11 million in annual revenues in fiscal 2003,
to $195.7 million in fiscal 2005, primarily as a result of the
acquisitions of Spacelabs and Blease. The company has engaged Collins
Stewart, a London-based investment bank to pursue the listing and
public offering of approximately 30% to 35% of the equity in Spacelabs
Healthcare, Inc., a newly formed Delaware corporation composed of the
Healthcare operations of OSI: Spacelabs Medical, Blease Medical,
Dolphin Medical and Osteometer MediTech.
Picis Improves Ibex PulseCheck for Pediatric Patients
Picis signs exclusive license for pediatric color coding scheme to improve patient safety.
Broselow-Luten Color Coding Kids option in the latest release of Ibex
PulseCheck,” says Kristen Lalowski, R.N., ED product manager, Picis.
The software provides a visual indicator of where a child fits on the
Broselow color continuum to promote better communication and decision
making among clinicians concerning the special needs of the pediatric
patient. “As the only EDIS to incorporate the Broselow-Luten system,
Ibex PulseCheck eliminates guesswork with equipment, medications and
treatments, improves communication among clinicians, promotes
consistent documentation and treatment between care areas, and permits
clinicians to make critical decisions with the support of the
Broselow-Luten system.”
