North Tide Capital Increases Activist Position in Healthways, Inc. (HWAY) to 11%

North Tide Capital, managed by Conan Laughlin, has raised its position in  Healthways, Inc. (NASDAQ:HWAY) to a total of 3.85 million shares, from 3.40 million held earlier. Following the move, North Tide currently holds 11% of the company’s common stock, up from 9.7% held earlier. The stake is activist by nature and has a value of almost $55.4 million, at the current stock price of Healthways’ stock.

Healthways, Inc. (NASDAQ:HWAY)

North Tide Capital managed by Conan Laughlin is a hedge fund focused primarily on the healthcare industry. Its equity portfolio had a value of $953 million at the end of the third quarter.

Healthways, Inc. (NASDAQ:HWAY) provides solutions to help people improve physical, emotional and social well-being. The global healthcare well-being improvement leader provides evidence-based health, prevention and well-being services. Besides North America, the company has operations in Brazil and Australia. The company has tied up with Dean Ornish, M.D. to operate and license his Lifestyle Management Programs. Healthways also announced, on December 17, that will partner with Freedom Health and Optimum HealthCare to offer the award-winning SilverSneakers® Fitness Program to eligible Medicare Advantage member.

For the third quarter of 2013, Healthways, Inc. (NASDAQ:HWAY) posted a net revenue of $166.6 million, flat over the year. The net income of the company slumped to $1.8 million, equal to $0.05 per share, versus $5.0 million reported for the same period of last year.

Besides North Tide Capital managed by Conan Laughlin, other hedge funds with substantial holdings in Healthways, Inc. (NASDAQ:HWAY) include Israel Englander’s Millennium Management and Sac Subsidiary‘s Cr Intrinsic Investors. Millennium Management holds 688,000 shares valued at $12.74 million followed by Cr Intrinsic Investors with 650,000 shares worth $12.03 million at the end of the third quarter.

Disclosure: none

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