News Update: American Caresource Holdings, Inc. (NASDAQ:ANCI); Granite Construction Inc. (NYSE:GVA); Echo Therapeutics Inc (NASDAQ:ECTE)
Dallas, Texas, 10/03/2014 (ustrademedia) – Ancillary healthcare service provider American Caresource Holdings, Inc. (NASDAQ:ANCI) announced yesterday that it has tied up with HealthSmart. The tie up involves signing of a three year management services agreement between the two companies. The agreement allows for HealthSmart Preferred Care II, L.P to manage the day to day operations of Ancillary Care Services which is a fully owned subsidiary of American Caresource Holdings, Inc. (NASDAQ:ANCI). Going forward the employees who were part of Ancillary Care Services would be merged with the workforce of HealthSmart Preferred Care II, L.P. Dr. Richard W. Turner Chairman and CEO of American Caresource Holdings, Inc. (NASDAQ:ANCI) and Tom Kelly, CEO of HealthSmart both expressed confidence that the tie up will prove to be mutually beneficial.
Granite Construction Inc. (NYSE:GVA) announced that it has won a $21 million contract to build the “State Route 99/Hosking Avenue Interchange.” The project was commissioned by the City of Bakersfield. The construction firm hopes to bring the contract on to its books by third quarter of 2014. The project involves the decommissioning of the existing bridge and building a new six lane flyover over the interchange. The funding of the project is being done by Thomas Roads Improvement Program. The co-operative is a tie up between the local governments of City of Bakersfield, County of Kern, Caltrans and Kern.
Medical device firm Echo Therapeutics Inc (NASDAQ:ECTE) announced that it has retained the services of accounting and consulting major PricewaterhouseCoopers LLP’s to help it frame a restricting plan. The consulting firm’s independent unit called the Restructuring and Recovery Services Practice will be working with the company management team to arrive at a financial and operational plan designed to help overcome its immediate liquidity concerns. The discussions include the drug maker resorting to sale of part of in full intellectual property it owns to tide over the precarious cash crunch.