Activist focuses on Emageon

Activist investor Oliver Press Partners LLC on Monday hiked its insurgency at Emageon Inc., a Birmingham, Al.-based medical information services technology company.
Oliver Press Partners reported Monday in a government filing that it informed Emageon that it plans to nominate director candidates to the compan's board and will consider bringing other proposals for consideration at the company's next annual meeting.
The hedge fund also reported Monday that it had raised its stake in the IT company to 14.2%, up from the 12% it reported July 30 when it first made a filing with the Securities and Exchange Commission. In that filing, Oliver Press Partners reported that it thought the company was undervalued and that it had preliminary discussions with Emageon's management to see about the possibility that one of its principals might join the IT compan's board.
OPP intends to work with the company to explore all available strategic options for increasing the value of the Shares. OPP intends to exchange views with the Company's management and board and possibly other shareholders concerning the strategic direction of the company, Oliver Press Partners wrote.
Another fund, Accipiter Life Sciences Fund LP, on Nov. 29 reported owning an 11.9% Emageon stake.
Emageon has a $95 million stock market capitalization.
Ron Orol
See Schedule 13D filing from SEC Edgar

Ron Orol is a Washington-based reporter for The Deal and author of Extreme Value Hedging: How Activist Hedge Fund Managers Are Taking on the World.