Business
HealthGate to deregister its stock
NEWS IN BRIEF — Posted June 20, 2005
HealthGate Data Corp. on May 26 filed a document with the Securities and Exchange Commission to voluntarily deregister its stock from the Over-the-Counter Bulletin Board and to suspend filing financial reports with the SEC.
The Burlington, Mass-based company, which sells evidence-based clinical guidelines software, said its action was based on a number of factors, including the cost of filing reports, its stock being held by fewer than 300 shareholders and lack of liquidity for its stock.
HealthGate now expects its stock to trade on the Pink Sheets, an electronic quotation service primarily for penny stocks and stocks that don't meet listing requirements of major stock exchanges. But there is no assurance that trading in its stock will continue, HealthGate said.
A few weeks previously, HealthGate had announced the sale of its patient content repository business to Ipswich, Mass.-based EBSCO Publishing for $8.1 million in cash, plus the assumption of liabilities.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2005/06/20/bibf0620.htm.
