QuadraMed Buys Integrated Medical

QuadraMed Corp., a maker of business software for hospitals, said it bought closely held Integrated Medical Networks for about $30 million in stock. The purchase gives Larkspur-based QuadraMed software that allows hospital groups to share records over a computer network. It will also allow the company to expand into Canada, where Irving, Texas-based Integrated Medical Networks has customers. QuadraMed said it expects the acquisition to add to earnings in the first quarter of 1999. It issued about 1.5 million shares of its common stock in the transaction, which it valued at $30 million based on its Sept. 30 share price of $20.13. Shares rose $1.25 to close at $22 on Nasdaq.