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Company Report: Medical Manager Surges After Merger News and Diversa's IPO a Hit

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Healtheon/WebMD (HLTH) rose 1 5/8 to 56 5/8 after it said it is buying Medical Managerundefined, a provider of physician practice management (PPM) systems, and its publicly traded subsidiary CarInsite (CARI) .

Medical Manager jumped 21 3/4, or 33.5%, to 86 3/4 while CareInsite gained 4 1/8, or 6.1%, to 72. Under terms of the deal, Healtheon/WebMD will pay 1.65 shares, or $90.75 a share, for a total of $3.2 billion in stock, for Medical Manager, and 1.3 shares, or $71.50 a share for CareInsite shares not owned by Medical Manager. Medical Manager owns 69% of CareInsite.

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story see the coverage from's

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soared 51, or 212.5%, to 75 in its trading debut.

Bear Stearns

priced 7.25 million shares above range at $24 each. Diversa collects genetic material from organisms and stores genes in DNA libraries.

For more on Diversa's

debut see the coverage from's

joint newsroom.

Amerada Hess

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