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In Brief: Qmed

This article was originally published in The Gray Sheet

Executive Summary

Qmed: Appoints Howard Waltham as chairman of the board, replacing company founder Michael Cox, who will continue as Qmed president and CEO. From 1985 to 1995, Waltham served as chairman and CEO of Sanus Corp. Health System, a national HMO company. In early May, Qmed finalized a strategic alliance with SmithKline Beecham under which SKB obtained exclusive rights to market and sell Qmed's ohms/cad (on-line health management system for coronary artery disease) to U.S. managed care companies in return for an equity investment -- 177,777 shares of Qmed common stock at $11.25 per share -- from SKB's venture capital affiliate S.R. One, Ltd. S.R. One also obtained a warrant to acquire an additional 63,492 shares of Qmed common at $15.75 per share...
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