Word: medica
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Dates: during 2000-2009
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...santos malandros are the latest pantheon to be incorporated into the broader cult of Maria Lionza. Among the others are the Corte Medica, consisting of doctors believed to be responsible for healing miracles. Its best-known figure, Jose Gregorio Hernandez, is currently in the process of being canonized by the Catholic Church. But inclusion of the santos malandros has raised controversy among devotees of espiritismo (also known as santeros). That's because they are regarded as spirits with a "low light," who, in order to gain redemption in death, must undo the harm they did in life...
Managed-care companies in several states, eager to rein in prescription-drug costs, foot the entire MedVantx bill, which includes keeping track of which patients receive a 30-day supply of one of 21 generic drugs. Among the latest to sign on is Medica, Minnesota's largest HMO, which installed MedVantx machines in 10 clinics this month. According to Medica's medical director, Dr. Ted Loftness, a mere 1% increase in generic prescriptions could save the company more than $6 million a year. --By Julie Rawe and Sarah Sturmon Dale
...gadgets on the market, the company last week copied its competitors and introduced a Microsoft program, dubbed the Dell Media Experience, that will come preloaded on all new Dell Dimension computers. "In time we hope it will become a central repository for the family," says senior vice president John Medica. For now, at least, the product has one big advantage: it's free...
...chairman Max Link and Rietiker, assembled in June and told Scruggs to pursue a deal. He crafted a creative solution in which a trust would be created for the victims and guaranteed by a lien on all company assets. Of each year's profits--$113 million in 2000--Medica's management could use about half to run the company. The other half would go to the injured patients, who would receive expenses and as much as $97,500 in cash and equity. Those who elected not to join in the settlement could still sue but couldn't win any money...
Some victims were horrified at the prospect of holding stock in the company that caused them trauma, but, Medica argued, that might be the only way to generate enough money to compensate them. Investors felt saved. Sulzer Medica shares jumped 19% on Aug. 29, the day after a U.S. district judge gave the $780 million plan a preliminary nod. "If it holds, it will be replicated," says John Aldock, a Washington corporate defense attorney. Don't worry about Scruggs putting himself out of business. If the deal holds, he could receive as much as $25 million...