Health Stocks in Motion
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Updated from 2:46 p.m. EST
Shares of Neoforma(NEOF Quote) were among the best-performing health-related stocks Wednesday, rising 16.6% after the company said it hired Merrill Lynch to help explore strategic alternatives.
The provider of information systems used by the health care industry said alternatives include a possible sale or merger of the company. The move is being made "in order to achieve greater stockholder value," the company said.
Neoforma said that any transaction would likely require the consent of VHA and the University HealthSystem Consortium, two health care alliances that own - on a combined basis -- a majority of Neoforma's outstanding shares. VHA and UHC are the owners of Novation, Neoforma's largest customer. Shares traded up $1.16 to $8.13. ...
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