Healthcor Management Further Invests in CareView Communications Inc (CRVW)

Arthur Cohen and Joseph Healey‘s hedge fund Healthcor Management has further increased its exposure to CareView Communications Inc (OTCBB:CRVW). Healthcor currently owns around 55.63 million shares, versus 39.13 million disclosed earlier this month. In this way, following the increase, the fund’s position amasses 28.6% of the CareView’s common stock.

The fund has raised its stake through the conversion of warrants to acquire shares. Earlier Healthcor has acquired a total of 4.0 million warrants, which gave it the right to buy a total of 4.0 million shares, at a price of $0.4 apiece. Aside from that, the fund also converted Senior Secured Convertible Note due 2024 into another 12.5 million shares of  CareView Communications Inc (OTCBB:CRVW)’s common stock.

At the end of last month, Healthcor also upped its position in CareView Communications Inc (OTCBB:CRVW), through purchasing notes and warrants, from 38.31 million shares held earlier. Overall, in the past several months, Healthcor managed to significantly solidify its stake in the company, raising it from 21.6% held in October.

All these moves fall under the agreement between Healthcor and CareView Communications Inc (OTCBB:CRVW), under the terms of which the parties agreed that the investor will invest around $5.0 million in the company through acquiring senior convertible notes.

CareView Communications Inc (OTCBB:CRVW) is a micro cap healthcare company, which is engaged in patient care monitoring, safety and security solutions.

With an equity portfolio of over $1.86 billion, Healthcor is engaged primarily in investing in healthcare stocks. In the past couple of months, the fund disclosed several significant moves, among which is reducing the position in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) to 10 million shares, from 11 million held earlier, and the addition of Five Prime Therapeutics Inc (NASDAQ:FPRX), in which the fund currently holds a 5.73% stake.

Disclosure: none

Recommended Reading:

Hedge Fund News: Alan Howard, Bill Ackman & George Soros

David A. Lorber Boosts His Stake at Ferro Corporation (FOE)

Shah Capital Management Buys 1.0 Mln Shares of UTStarcom Holdings Corp (UTSI)