Surf;
Thnx.
GL
mlkr

IN BRIEFING AS WELL:

"Star Scientific reports publication of first peer-reviewed article on the effects of anatabine in an animal model of multiple sclerosis (STSI) 2.15 +0.07 : Some of the findings were previously presented at Neuroscience 2012, an international scientific convention; however, the article in PLOS ONE contains complete results of the study, and the article was subjected to the peer review evaluation process prior to publication. The Roskamp researchers found that orally administered anatabine significantly reduced neurological disability and improved motor coordination of EAE mice. In particular, paralysis of the hind limbs was markedly suppressed in the anatabine treated group, and neurological symptoms were delayed in the anatabine treated group compared to the placebo group."

Surf;
thnx.
mlkr

BioClinica to be acquired by a holding co controlled by JLL Partners for $7.25 per share tender offer (BIOC) 6.04 : Co announced that it has entered into a definitive agreement to be acquired by a holding company controlled by JLL Partners, a private equity firm. Under terms of the BioClinica agreement, the holding co will commence a cash tender offer to purchase all of BioClinica's common stock at an offer price of $7.25 a share, which results in an equity value of ~ $123 million. Any BioClinica shares not tendered in the offer will be acquired in a second-step merger at the same cash price as paid in the tender offer. The purchase price represents a premium of 23.2% over its average closing price for the 90 days ended Jan 29, 2013, and 28.7% over the average price for the 52-week period ended Jan 29, 2013. BioClinica's Board of Directors has unanimously approved the definitive merger agreement and the transaction c

institutions owning:
http://www.insidercow.com/institution/subject.jsp?subject=0001060426&company=AXN

Institutional ownership:
http://www.nasdaq.com/symbol/cprx/institutional-holdings#.UQhBokbKKco

Ventrus Biosciences Announces Proposed Public Offerings of Common Stock and Series A Convertible Preferred Stock

By GlobeNewswire, January 29, 2013, 04:19:00 PM EDT




NEW YORK, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Ventrus Biosciences, Inc. (Nasdaq:VTUS) announced today that it is concurrently offering to sell, subject to market and other conditions, (i) shares of its common stock in an underwritten public offering, and (ii) shares of its Series A Convertible Preferred Stock ("Series A") in a separate underwritten public offering. The Series A is non-voting and each share of Series A is convertible into 10 shares of Ventrus common stock, provided that conversion will be prohibited if, as a result, the holder and its affiliates would own more than 9.98% of the total number of Ventrus shares of common stock then outstanding. All of the shares in these offerings are to be sold by Ventrus. Ventrus also intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the common stock public offering to cover over-allotments, if any.

William Blair & Company, L.L.C. is acting as the sole underwriter of these offerings.

Surf;
Thnx for info.
GL
mlkr

up $0.50s from $2.20 to $2.70s. Spike! No news?

UPGRADE spiked it:$28

ASSOCIated Press – 21 minutes ago
Sarepta Therapeutics rises on analyst rating
Sarepta rises as analyst predicts strong sales of Duchenne drug and looks to antiviral drugs
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SRPT 27.91 3.52

NEW YORK (AP) -- Shares of Sarepta Therapeutics Inc. rose Friday after a Cowen & Co. analyst took a positive view of the company's experimental drugs.
THE SPARK: Analyst Edward Nash began covering Sarepta shares with an "Outperform" rating. Nash said he thinks the company's Duchenne muscular dystrophy drug eteplirsen will be approved in 2016, and he said sales of that drug alone should be enough to make the company profitable that year. He added that the U.S. Department of Defense has shown strong interest in the company's antiviral drugs.
The analyst projected $263 million in U.S. sales of eteplirsen in 2016.
THE BIG PICTURE: Sarepta is based in Cambridge, Mass., and does not have any approved drugs. Eteplirsen is its most advanced drug candidate. It is designed to treat Duchenne muscular dystrophy, a rare genetic disease that causes increasing muscle weakness. The National Institutes of Health say patients typically die before the age of 25.

Selling stox @$2
BG Medicine selling 6M shares of stock for $2 each
BG Medicine prices $12M stock sale; will use proceeds to fund sales of heart diagnostic tests

Associated Press – 4 hours ago
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BGMD 2.08 -0.40

WALTHAM, Mass. (AP) -- BG Medicine Inc. said Friday that it priced an offering of 6 million shares of stock at $2 per share.
The company said it expects $11.1 million in proceeds after discounts, commissions and expenses are deducted. The offering is expected to close Wednesday. BG Medicine said the underwriters of the offering will have the opportunity to buy 900,000 additional shares to cover any overallotments.
BG Medicine makes a test that is used to determine the prognosis of patients with heart failure, and a test designed to identify patients at high risk for problems like heart attack and stroke. The company said it will use the proceeds of the offering for commercialization of its tests and for other general corporate purposes.
BG Medicine had 20.5 million shares on the market as of Oct. 31. Its shares fell 34 cents, or 13.7 percent, to $2.14 in morning trading.

PPS $0.21 PRE SPLIT
$1.24 TODAY/: 1 FOR 6.

State the facts: Co has time, plenty. When Watson makes a positive decision short pricks will be cornered

Rewards and Risks: Alpha author who longed it $0.58
http://seekingalpha.com/article/1077611-columbia-laboratories-inc-recent-events-lead-to-an-opportune-entry-point?source=yahoo

SHARE SALE AH ; must be the reason holding it in a tight trading range . PPS today (0.71) must be below value sale price; We shall see in more details.
Anthera Pharmaceuticals Announces Proposed Public Offering of Common Stock
Last update: 1/24/2013 4:01:00 PM
HAYWARD, Calif., Jan. 24, 2013 /PRNewswire via COMTEX/ -- Anthera Pharmaceuticals, Inc. (ANTH) today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. The Company intends to use the net proceeds from the offering for general corporate purposes. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Jefferies & Company, Inc. is acting as sole book-running manager in the offering and Leerink Swann LLC is acting as co-manager.

Surf;
Kudos!
mlkr

Slow Economic Growth is the 'New Normal' - Fannie Mae: Trend of Gradual, Below-Potential Economic Growth to Continue in 2013, 2014 >FNMA Fannie Mae
Last update: 1/24/2013 9:30:12 AM

By Saabira Chaudhuri

The gradual but below-potential economic growth seen in 2012 is likely to continue in 2013 and into 2014, according to a new report from Fannie Mae (FNMA).
The mortgage-finance company noted that the recovery's slow pace has become the "new normal," as the fiscal cliff and continuing debt-ceiling debate--which are likely to suppress consumer spending in the first half of 2013--continue to present potentially strong headwinds to meaningful growth activity.
Overall, Fannie forecasts a 2% growth rate for 2013, similar to the "subdued pace" of 2012, despite the fact the housing sector has become a "bright spot in the economy" since home prices began to rebound last year and is expected to provide a rising contribution to GDP in 2013 and in coming years.
Fannie noted that overall, home sales, home prices and home-building activity as well as home builder confidence appear to be on the upswing, having risen to multiyear highs.
"What we view as sub-par economic growth may actually continue to be par for the course for the near term," Fannie Mae Chief Economist Doug Duncan said. "We expect the fiscal policy climate to act as a drag on growth this year with possible implications on the direction of the economy in the long term.
He added that the agency expects to see some upward trend in economic activity as fiscal-policy debates subside later in the spring, with growth accelerating moderately in the second half of the year
In the longer term, Mr. Duncan said the gradual return of manufacturing to the U.S. and increasing domestic energy production will work together to accelerate economic growth; however, Fannie Mae anticipates overall growth in 2013 will remain below its potential.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
January 24, 2013 09:30 ET (14:30 GMT)

iStar Financial announces ownership group to sell LNR property LLC for $1.05 bln (SFI) 8.72 : Co announced today that the owners of LNR Property LLC, including iStar, have signed a definitive agreement to sell LNR for a total purchase price of $1.05 billion. iStar's 24% ownership interest in LNR is expected to generate $220 million in net proceeds at closing after closing costs and LNR management incentives. The transaction is expected to close during Q2 of 2013, subject to customary closing conditions. Lazard is serving as financial advisor to iStar and the other sellers in connection with this transaction.

Lloyds Banking Group to Repay Most of its LTRO Funds in February
Last update: 1/24/2013 7:37:41 AM
LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) is to repay the bulk of money it borrowed from a special European Central Bank funding program last year, a sign that it is comfortable with the strength of its balance sheet and liquidity.
The bank has around 11.4 billion pounds ($18.1 billion) equivalent in money from the ECB's long-term refinancing operation, or LTRO, and said it intends to pay back more than GBP8 billion equivalent when the loan becomes eligible for repayment Feb. 27.
Hundreds of European banks borrowed three-year money from the ECB's long-term refinancing operation, or LTRO, in two batches in December 2011 and March 2012. The first batch may be repaid from Jan. 30, and the second set can be repaid from Feb. 27.
Analysts anticipate that roughly EUR200 billion to EUR300 billion of the loans will be repaid in the first half of the year.
The cheap money helped to calm markets when it was doled out, relieving fears a major bank could collapse because of a lack of funding as the euro-zone crisis intensified at the turn of 2012. Since then, bond markets and other sources of bank funding have eased, making some banks more confident about returning the cash.
Lloyds Banking Group at the time of the loan in February said it drew the money to part-fund a pool of euro-denominated assets. The bank has non-core assets in countries using the euro, including Ireland, the Netherlands and Spain. Once it makes the part LTRO repayment in February, it plans to keep the remainder as a currency hedge against its European portfolio.
Write to Margot Patrick at margot.patrick@dowjones.com

Mecox Lane announces ADS ratio change (MCOX) 0.59 : Co announces a ratio for its ADSs representing ordinary shares of the co will change from 1 ADS representing 7 Shares to 1 ADS representing 35 Shares. Mecox Lane's ADSs will continue to be traded on the NASDAQ Global Select Market under the symbol "MCOX".

Solazyme prices offering of $115 mln aggregate principal amount of Convertible Senior Subordinated Notes due 2018 (SZYM) 6.88 : Co announced the pricing of its offering of "15 million aggregate principal amount of Convertible Senior Subordinated Notes due 2018 in a private placement. Solazyme also granted the initial purchaser a 30-day option to purchase up to an additional "0 million aggregate principal amount of Convertible Notes solely to cover over-allotments. The sale of the Convertible Notes is expected to close on January 24, 2013, subject to customary closing conditions. Solazyme expects that the net proceeds from this offering will be approximately "09.8 million, after deducting discounts to the initial purchaser and estimated offering expenses payable by Solazyme.

It seems there is one buy rec with $13 price target .

Share sale @ 4.75
Trius Therapeutics prices underwritten public offering of 6.3 mln shares of its common stock at $4.75 per share (TSRX) 5.23 :

New chief and relocation $0..63
Columbia Labs appoints Jonathan B. Lloyd Jones as CFO (CBRX) 0.63 : Co announced the appointment of Jonathan B. Lloyd Jones as Vice President, Finance, Chief Financial Officer, Treasurer and Secretary, effective Jan 21. He will be based at Columbia's corporate headquarters, which will be relocated to the area of Boston, Massachusetts during the first half of 2013. Most recently, he served as chief financial officer and vice president of corporate development at TetraLogic Pharmaceuticals, a venture capital-funded biotechnology co. Mr. Lloyd Jones replaces Lawrence A. Gyenes, formerly Columbia's Chief Financial Officer, who will remain with the co through Jan 31, 2013, which will also be Michael McGrane's last day as Columbia's General Counsel. Messrs. Gyenes and McGrane will remain available to the Company to ensure a smooth transition.

Chart in reversal mode it seems: Good Luck.
mlkr

Trading halted @$12 then jumped to $14 despite delayed PDUFA. Hyperion notified that FDA will not meet the PDUFA action date for Ravicti (HPTX) 12.00 : Co said that the U.S. Food and Drug Administration (FDA) has advised it not to expect a final action by the Prescription Drug User Fee Act action date of January 23, 2013. The agency explained it is continuing to work on label and post-marketing requirements in connection with Hyperion's New Drug Application for Ravicti (glycerol phenylbutyrate) for the treatment of Urea Cycle Disorders.

Globus Medical sees Q4 revs of $100.5 mln vs $97.9 mln Capital IQ Consensus Est (GMED) 12.32 : Co announced preliminary unaudited sales results for the year ending December 31, 2012, in advance of its national sales meeting being held later this week. The co anticipates Q4 sales of $100.5 million, a 14.3% increase over Q4 2011, and full year 2012 sales of $386.0 million, a 16.4% increase over 2011.

"Our business remains robust, and Q4 performance is a testament to the consistent execution of our strategy. We believe we will continue to grow our business at rates significantly above the industry by innovating in rapid response to the needs of our customers and patients, growing our US sales force, and expanding our footprint internationally."

COOL! MORE MAY JUMP ON BAND WAGON!

GSI Group to Acquire NDS Surgical Imaging for $82.5 Million $9 TODAY!
-- NDS is the leading producer of high performance visualization products sold to OEMs in the surgical endoscopy and radiology markets
-- Provides a substantial platform for future growth in the medical market
-- Creates significant channel leverage with GSI's existing medical applications
-- Increases GSI's revenue from the medical market to 38% of total sales

Press Release: GSI Group Inc. – 2 hours 9 minutes ago
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GSIG 9.17 0.70

BEDFORD, Mass., Jan. 15, 2013 /PRNewswire/ -- GSI Group Inc. (GSIG) (the "Company" or "GSI"), a leading supplier of laser-based solutions, precision motion and optical technologies to global industrial, medical, electronics, and scientific markets, today announced that it has acquired NDS Surgical Imaging ("NDS"), a San Jose, California-based global leader in surgical and radiology displays and related peripherals, for $82.5 million in cash, subject to customary closing adjustments.
(Logo: http://photos.prnewswire.com/prnh/20120305/NE64445LOGO )
"The acquisition of NDS Surgical Imaging provides GSI with market-leading positions in the medical and surgical arenas, based on highly engineered technologies supplied into demanding applications," said John Roush, Chief Executive Officer of GSI. "The addition of NDS significantly expands our existing medical OEM sales channels and leverages our expertise in color measurement. This acquisition enhances our relevancy to major medical OEM customers, and opens up additional organic growth and acquisition opportunities, particularly within the surgical arena," added Mr. Roush.
The acquisition resulted from the Company's medical component market strategy, which has been in process for over a year. The combined technology platforms will expand GSI's portfolio of highly differentiated photonic technologies supplied to leading global OEM customers. In addition, the medical applications NDS serves with its products are adjacent to several of GSI's existing medical applications. There are also a number of shared customers, which we expect will strengthen the Company's key OEM customer relationships.
NDS's primary technology consists of high resolution flat panel displays, assembled into medical grade enclosures, with proprietary customer specific color correction software algorithms
NDS's products are Class I and Class II medical devices (FDA regulated), with extremely high performance specifications, which are custom-matched to OEM optical requirements
The business offers a complete line of surgical visualization products, including displays, wireless imaging peripherals, and informatics and connectivity solutions
NDS is a recognized technology leader within the space and has been first to market with many innovations, including:
Surgical Liquid Crystal Displays (LCDs)
LED backlights with backlight stabilization in a surgical display
Patent-pending Color Correction Technology and automated LCD calibration technology
510(k) approval for LCDs for mammography
3 and 5 megapixel (MP) medically certified diagnostic LCDs
Ultra-Wideband (UWB) wireless technology in the surgical suite
"NDS Surgical Imaging is a leader in the industry, with significant exposure to the minimally invasive surgical and diagnostics markets in both developed and developing countries," said John Roush. "With nearly 40% of GSI's pro forma revenue generated from the medical market, the acquisition is a significant step for us in achieving our strategic goals."
The total purchase price of $82.5 million is financed using approximately $25 million of cash on-hand with the remainder from the Company's new credit facility. The acquisition closed as of Tuesday, January 15, 2013. The transaction is earnings accretive and is expected to add more than $80 million in revenue and nearly $12 million of Adjusted EBITDA to GSI's financial results in 2013.
Houlihan Lokey acted as the sole financial advisor to GSI and provided a fairness opinion to GSI's Board of Directors.

Higher valuation by an analyst: Barrons article $1.60
http://blogs.barrons.com/techtraderdaily/2013/01/04/jdsu-ubs-ups-target-to-16-on-carrier-comments-multiple-expansion/?mod=yahoobarrons

"PharmAthene secures exclusive license to PER.C6 cell line for commercial production of recombinant bioscavenger (PIP) 1.30 -0.03 : Co has entered into an exclusive commercial license for the use of Percivia's proprietary PER.C6 technology platform in the production of PharmAthene's next generation recombinant butyrylcholinesterase (rBChE) bioscavenger. The PER.C6 platform is a human, cell-based manufacturing system that enables the production of high quality, cost effective biological products for the life sciences industry with the added benefit of being fully human, unlike products manufactured using other expression systems." Briefing

By G. A. Chester
December 21, 2012 | Comments (0)


LONDON -- In this festive mini-series, we look at the 2013 prospects for some of your favorite FTSE 100 (UKX) shares. Today, it's the turn of Lloyds Banking Group (LSE: LLOY ) (NYSE: LYG )

Lloyds' shares have gained a whopping 81% during the course of 2012, compared with a 6% rise for the Footsie. The group has made good progress in its strategy of de-risking its balance sheet, reducing its non-core assets and getting back to being a simple, customer-focused U.K. retail and commercial bank.

In a Q3 statement released in November, Lloyds' guidance for the full year ending 31 December included a cost base reduced to around 10 billion pounds (two years ahead of the original plan), and impairment charges of 6 billion pounds and a reduction in non-core assets of around 38 billion pounds (both ahead of the targets set at the start of 2012). If City scribblers' forecasts are right, Lloyds should also deliver a pre-tax profit of around 2.7 billion pounds compared with a loss of 3.5 billion pounds in 2011.

The results, which will be released at the beginning of March, will also see Lloyds provide an update on Payment Protection Insurance (PPI) mis-selling claims. The company expects to have better visibility by then on the ultimate likely cost of the PPI scandal, for which its current provision is 5.3 billion pounds.

Finally, shareholders should get some idea in the coming year of whether Lloyds will resume paying dividends in the near future. It has been reported in the press that chief executive Antonio Horta-Osorio is keen to pay a small dividend in early 2014, but that the Financial Services Authority has threatened to block the move on the view that the bank should hang on to all capital to protect itself in the event of a break-up in the eurozone.

Lloyds has clearly made good progress in 2012 but, after the storming rise in the share price, how does the valuation look now and have the shares got further to go in 2013?

At a recent share price of 47 pence, Lloyds' 12-month forward price-to-earnings (P/E) ratio of over 12 doesn't look too attractive compared with more solid banking citizens HSBC and Standard Chartered, whose P/Es are both nearer 10.

However, on an assets-valuation basis, it's a different story. HSBC and Standard Chartered are both trading at a premium to tangible net asset value. In contrast, Lloyds started 2012 at a 56% discount and, despite the year's mammoth share-price rise, remains at a discount -- albeit a much narrower 17%.

While there's some scope for the discount to close further, it looks like the biggest gains were to be had by investing at the lows of the past 12 months... And before anyone says, "Why didn't you tell us that at the time?", I did highlight Lloyds' shares for you this time last year when they were trading at 24 pence!

But let's not get too carried away: If bearish fears of a second financial tsunami prove well founded, Lloyds' shares are likely to sink even faster than they've risen this year.

If that were to happen, City super-investor Neil Woodford, who famously got out of financials before the credit crunch and who is still steering clear of banks, will once again take the plaudits. Woodford's funds have trounced the market over the past 15 years, so his views and approach to investing are certainly worth considering.

You can do just that by helping yourself to a free and exclusive Motley Fool report that tells you all about the master investor's enormously successful strategy and eight of the blue-chip companies he currently favors.

This report is free to private investors for a limited time only, but it can be in your inbox in seconds for some holiday reading: simply click here.

Lloyds Banking Group Raised to Buy From Neutral by UBS
Last update: 1/9/2013 1:59:33 AM
(END) Dow Jones Newswires
January 09, 2013 01:59 ET (06:59 GMT)

BKIR 0.135 EURO; IRE $7.78 SELLING NOTES GOOD SIGN!
Irish Fin Min: Sale of CoCo Notes in Bank of Ireland Positive Sign
Last update: 1/9/2013 4:34:37 AM
By Eamon Quinn
DUBLIN--Ireland's plan to sell a large part of a 1 billion euro ($1.3 billion) holding in contingent capital, or CoCo, notes in Bank of Ireland PLC is a sign that the country's banking system is on the mend, said the Irish government Wednesday.
The notes are debt securities which can be converted to equity if the bank's capital falls below a certain ratio or if a "stress event" occurs.
Dublin plans to sell at least EUR500 million of its EUR1 billion holding of the notes to private investors. It injected the money into Bank of Ireland as emergency capital in 2011, at the height of the country's banking crisis.
"The successful exit from a large portion of this position represents another step along the road to normalizing the state's relationship with the banking sector and reflects positively on the progress being made in returning our banks to a position of strength," Irish Finance Minister Michael Noonan said in a statement.
Ireland has been forced to pump EUR64 billion--equivalent to about 40% of its annual economic output--into its banking system to keep it from collapse over the last five years.
Bank of Ireland, which has made the most progress in returning to health, was the only Irish lender to avoid outright nationalization during the country's crisis. The government still owns a 15% stake in the lender.
The bank said it had hired Davy Stockbrokers, Deutsche Bank and UBS to help sell at least EUR500 million of the CoCo notes, which mature in July 2016 and pay an annual coupon of 10%, through a placing on the secondary market.
Write to Eamon Quinn at eamon.quinn@dowjones.com
(END) Dow Jones Newswires
January 09, 2013 04:34 ET (09:34 GMT)

BKIR intra day: 0.129-0.14

Institutional activity: $2.21
http://www.insidercow.com/institution/subject.jsp?subject=0001105472&company=SONS

Neptune Technologies's Acasti Pharma (ACST) subsidiary announced that it has been approved to list its common shares on the NASDAQ Capital Market beginning on January 7, 2013 under the ticker symbol 'ACST' (NEPT) 1.90 : Acasti Pharma (ACST), a Neptune Technologies & Bioressources Inc. ("Neptune") subsidiary, is pleased to announce that it has been approved to list its common shares on the NASDAQ Capital Market beginning on January 7, 2013 under the ticker symbol "ACST."

iCAD Receives FDA Approval for Digital CAD with Philips (PGH) Digital Mammography System (ICAD) 4.71 : Co announced approval by the FDA for use of the company's next generation mammography computer-aided detection (CAD) platform, PowerLook Advanced Mammography Platform (AMP)TM, with Digital CAD for Philips' MicroDose Full-Field Digital Mammography System.

Independent Foreclosure Review to Provide $3.3 Billion in Payments, $5.2 Billion in Mortgage Assistance (XLF) : Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to pay more than $8.5 billion in cash payments and other assistance to help borrowers. The sum includes $3.3 billion in direct payments to eligible borrowers and $5.2 billion in other assistance, such as loan modifications and forgiveness of deficiency judgments.

The payments involve mortgage servicers operating under enforcement actions issued in April 2011 by the OCC, the Federal Reserve, and the Office of Thrift Supervision. The agreement ensures that more than 3.8 million borrowers whose homes were in foreclosure in 2009 and 2010 with the participating servicers will receive cash compensation in a timely manner.

Eligible borrowers are expected to receive compensation ranging from hundreds of dollars up to $125,000, depending on the type of possible servicer error.

This agreement includes Aurora, Bank of America, Citibank, JPMorgan Chase, MetLife Bank, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.

As a result of this agreement, the participating servicers would cease the Independent Foreclosure Review, which involved case-by-case reviews, and replace it with a broader framework allowing eligible borrowers to receive compensation significantly more quickly.

Eligible borrowers will receive compensation whether or not they filed a request for review form, and borrowers do not need to take further action to be eligible for compensation. A payment agent will be appointed to administer payments to borrowers on behalf of the servicers.

Select Medical issues guidance for 2013; sees EPS of $0.98-1.04 vs. $1.04 Capital IQ Consensus; sees revs of $2.95-3.05 bln vs. $3.03 bln Capital IQ Consensus Estimate. (SEM) : Co issues in-line guidance for FY13 (Dec), sees EPS of $0.98-1.04 vs. $1.04 Capital IQ Consensus Estimate; sees FY13 (Dec) revs of $2.95-3.05 bln vs. $3.03 bln Capital IQ Consensus Estimate.

The above business outlook includes the expected financial impact to outpatient therapy payments related to the multiple procedure payment reduction change included in the American Taxpayer Relief Act of 2012, which would become effective for outpatient therapy services on April 1, 2013. Select Medical estimates this negative impact to net operating revenues and Adjusted EBITDA to be between $5 million and $10 million annually for its outpatient rehabilitation segment.
The above business outlook does not include any estimated financial impact from potential sequestration cuts currently scheduled to occur on or about April 1, 2013 in the absence of further congressional action. Select Medical estimates this negative impact to net operating revenues and Adjusted EBITDA to be approximately $20 million if implemented.