ROCKY QUARTER HITS COHR HARD.Byline: Ben Sullivan Daily News Staff Writer It has not been an easy quarter - or year - for medical equipment outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. firm Cohr Inc. The Chatsworth-based company began 1998 with news that an external audit prompted by the November November: see month. resignation of Chief Executive Paul Chopra found that earnings dating back more than a year had been miscalculated. That news led to a plummet in the company's stock. Cohr's board of directors brought on new management this spring, but several class-action lawsuits prompted by the decimated share price have kept the issue mired mire n. 1. An area of wet, soggy, muddy ground; a bog. 2. Deep slimy soil or mud. 3. A disadvantageous or difficult condition or situation: the mire of poverty. v. in the high single-digits. One possibly bright spot in an otherwise gloomy gloom·y adj. gloom·i·er, gloom·i·est 1. Partially or totally dark, especially dismal and dreary: a damp, gloomy day. 2. year is that Chairman Lynn Retinouer recently bought 20,000 shares in the company for his own portfolio. Cohr was founded in 1974 as a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. coalition of Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, hospitals that pooled resources to negotiate cheaper equipment maintenance contracts from service providers. The concept was a hit, and over 15 years the group expanded, developed its own staff of engineers and service technicians, and moved into the related field of group purchasing of medical supplies. As recently as last spring Cohr shares were rated a ``buy'' or ``strong buy'' by a majority of analysts covering the firm, who felt that with managed care pushing hospitals to cut costs, outsourcing was the wave of the future. CAPTION(S): Chart CHART: COHR SINKS: Shares of Cohr Inc. fell further than any other locally headquartered company during the second quarter. |
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