Deerfield Management Ups Passive Stake In Streamline Health Solutions Inc. (STRM) To 12.18%

Deerfield Management, led by James E. Flynn, has increased its stake in Streamline Health Solutions Inc. (NASDAQ:STRM). In a newly-amended 13G filing with the U.S. Securities and Exchange Commission, Deerfield revealed holding 2.27 million shares of Streamline Health Solutions Inc. (NASDAQ:STRM), up from 1.82 million shares the fund held as of March 31. The stake equates to 12.18% of the company’s common shares, and is passive by nature. Deerfield initiated the position in Streamline Health Solutions Inc. (NASDAQ:STRM) during the fourth quarter of 2013. The investment has yet to pay off, as shares have declined by 59% since the end of that quarter.


Healthcare-focused hedge fund Deerfield Management has experience addressing a wide variety of financing challenges that companies in the healthcare sector face. The fund specializes in funding R&D, managing hostile takeovers, corporate transitions, and financial advisory services. Currently, Deerfield has more than $5 billion worth of assets under management. As of March 31, the market value of the fund’s public equity portfolio stood at $3.09 billion. Its top holdings, in terms of value, following the first quarter included Auspex Pharmaceuticals Inc (NASDAQ:ASPX), Horizon Pharma PLC (NASDAQ:HZNP), and AbbVie Inc (NYSE:ABBV).

James E. Flynn
James E. Flynn
Deerfield Management

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Georgia-based Streamline Health Solutions Inc. (NASDAQ:STRM) is engaged in providing transformational data-driven solutions to healthcare organizations, and is active mainly in North America. The company has a market cap of $89.05 million, and does not pay a dividend. Streamline Health Solutions Inc. (NASDAQ:STRM) was able to lessen its first quarter 2015 net loss attributable to common shareholders to $2.16 million, versus $2.90 million in the same period last year. The loss per common share was $0.12, versus $0.16 in the same quarter of 2014. Revenues for the first quarter of 2015 decreased by about 11% year-over-year to $6.2 million. The production backlog at the end of the first quarter was $74.6 million, a 19% increase over the same quarter a year ago.