Healthcor Management Increases Holding in CareView Communications Inc (CRVW)
Arthur Cohen and Joseph Healey's Healthcor Management has upped its exposure to CareView Communications Inc (OTCBB:CRVW). Healthcor currently owns around 39.13 million shares of the company, up from 38.31 million held earlier. The stake amasses 22% of the company's stock.
The fund holds the shares in the form of Notes and Warrants. The recent increase in the position represents the interest paid for Senior Secured Convertible Note due 2021 and Senior Secured Convertible Note due 2022. The interest accrual is equal to a total of 828,846 shares of common stock.
CareView Communications Inc (OTCBB:CRVW), provides information technology, to the healthcare industry. Recently, the company entered into a Binding Term Sheet with HealthCor Partners Management, L.P., wherein, the company issued $5 million worth of a Senior Convertible Note with a maturity of 10 years. For the first 1-5 years of the Note will pay an interest of 12.5% compounded quarterly. During the latter half of the maturity of the Note, ie., 6-10 years, the Note will pay an interest of 10.0%, compounded quarterly.
Arthur Cohen and Joseph Healey’s HealthCor Management, earlier, reduced its stake in eHealth, Inc. (NASDAQ:EHTH) to 1.73 million by selling 525,000 shares at a price of $43 per share. The fund, later in mid-November, added Five Prime Therapeutics Inc (NASDAQ:FPRX) amassing 965,000 shares. While, in mid-December, the hedge fund trimmed its stake in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), to 10.0 million shares from 11.0 million shares.
HealthCor Management has 5.05% of its portfolio invested in Gilead Sciences, Inc. (NASDAQ:GILD), holding 1.5 million shares worth $94.31 million. The fund had sold 29% of its stake in the company in the third quarter of 2013. The fund also holds 2.3 million shares of ArthroCare Corporation (NASDAQ:ARTC), worth $81.83 million.