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Greenway Medical Technologies (GWAY) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Greenway Medical Technologies (NYSE:GWAY) sells electronic health record software. In particular, Greenway focuses on records for ambulatory care providers. Ambulatory care is when a patient is treated on the same day and so is not admitted into the hospital for extended care or surveillance.[1] Greenway Medical believes that this industry is particularly under-served by medical records. As a result, Greenway has designed its software around the workflows needed for this type of care.[2]
Business Overview
For the full year 2011 ended in June, Greenway reported a total revenue of $89.8M and a net income of $33M. This compares to a total revenue of $64.6M and a net income of $2.9M during the same period in 2010. A substantial income tax benefit was the main driver of the rise in net income. [3]
New Updates
The company's initial public offering of stock on the NYSE occurred on February 1, 2012. The company offered 6.7M shares each for $10. This was below the $11-$13 initial price range. The deal raised a total of $67M. The lead mangers of the deal were J P Morgan Chase (JPM), Morgan Stanley (MS), and William Blair.[4]
Trends & Forces
Government Support
The United States government has provided financial incentives to quicken to adoption of electronic medical records. These incentives help Matador to grow and achieve profitability. If the US government decides to alter its policy and decrease or remove these incentives, Greenway and other electronic health care companies would be impacted. [5]
- ↑ Saskatoon Health Region "Programs & Services : Ambulatory Care"
- ↑ GWAY S-1/A 2012 PROSPECTUS SUMMARY "Overview" pg. 1-2
- ↑ GWAY S-1/A 2012 PROSPECTUS SUMMARY "Summary Financial Data" pg. 9-10
- ↑ Renaissance Capital - IPO Home "Greenway Medical prices IPO at $10, below the range" 1 Feb 2012
- ↑ GWAY S-1/A 2012 PROSPECTUS SUMMARY "Risk Factors" pg. 12-16
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