Neoforma.com, Inc. (Nasdaq: NEOF) fell 1 9/16 to 7 15/16 Friday after announcing a restructuring. Reports said company officials told analysts in a conference call that sales in the second quarter would be slower than previously thought.
The Santa Clara, California-based Neoforma said it will lay off about 80 people and focus on bringing more hospitals and physician practices into its e-commerce exchange. The company, which operates B2B marketplaces for healthcare companies, said it will concentrate on two key divisions: Integrated Delivery Networks and Hospitals and Physician Practices. The new business plan should lead to breakeven results before items in the first quarter of 2002, the company said.
Last week, Neoforma.com called off plans to merge with Eclipsys Corp. (Nasdaq: ECLP) and HealthVision, Inc., after declines in the companies’ stock prices cut the value of the transaction.