Market saturation to cause electronic health record market to decline
TORONTO — Market saturation will drive down the market for electronic medical records in the United States despite a spike last year resulting from government incentive funding, according to a new study.
The Millennium Research Group predicts that due to Medicare penalties for hospitals and physicians that fail to demonstrate meaningful use of electronic medical records by 2015, most adoption will occur by then. But market saturation means that purchases of new systems will likely decline.
"Most large facilities have already adopted these systems because they had the necessary capital and information technology resources to accommodate EMR implementation early on," MRG senior analyst Mickel Phung said. "as a result, most system purchases through 2022 will consist of replacement sales and purchases made by smaller facilities that previously could not afford the systems."
MRG suggested that companies making EMR systems target smaller facilities and physician practices or such niche segments as specialists, and web-based systems also presented further opportunities because they’re a major driver for ambulatory systems.
Gillette Clear Gel Deodorant celebrates NFL Season kickoff with ‘Training Tracks’ music video
BOSTON — Celebrating the end of NFL training camps and the start of the regular season, Gillette Clear Gel Deodorant today released “Training Tracks,” an all-new music video that uses the sounds of athletes training to create a one-of-a-kind musical experience.
Developed in conjunction with Gillette Deodorant’s “Built for Training” program, the music video features corner backs Champ Bailey and Kayvon Webster of the Denver Broncos, running backs BenJarvus Green-Ellis and Giovani Bernard of the Cincinnati Bengals and former Notre Dame offensive guard Mike Golic, Jr., training in the gym to create a musical track.
Academy Award Winner Michel Gondry directed the shoot, and it features a track conceived by Phil Mossman, formally of LCD Soundsystem. “Training Tracks” is the intersection of technology, sound and athleticism, and provides an artistic take on what it really takes to train like a pro. The music experiment was produced at the Ocean Way Studios in Hollywood.
All five athletes participated in Gillette Deodorant’s “Built for Training” program this summer, a six-installment web series on nfl.com/builtfortraining that looked at some of the toughest elements of NFL training camp through the eyes of hopeful rookies and their seasoned mentors. “Training Tracks” marks the conclusion of training camp and the web series, and the kickoff of a new NFL season.
Coty posts fiscal 2013 results
NEW YORK — Coty Inc. reported on Tuesday a boost in fiscal 2013 new revenues, thanks in part to growth in its fragrance and color cosmetics segments.
Net revenues for fiscal 2013 totaled $4.6 billion, up 2% like-for-like and 1% as reported from the prior-year period. The like-for-like growth was driven, in part, by strong performances of its Rimmel, Marc Jacobs, Chloe and Playboy brands.
Net income increased to a gain of $168 million from a loss of $324.4 million in the year-ago period. Adjusted net income increased to $323.2 million from $300.7 million.
“Coty delivered another year of positive financial performance. Our increase in net revenues was driven by growth in our fragrances and color cosmetics segments as well as positive developments across all regions, particularly in emerging markets,” stated Michele Scannavini, CO of Coty. “Operating and net income grew faster than revenues, contributing to margin expansion and demonstrating our ongoing focus on operational efficiency. We continue to show strong ability to convert earnings into cash, enabling us to keep investing to support our growth. We remain committed to our long term strategy to grow revenues in line or faster than the markets and segments where we compete, and to grow earnings faster than sales, driving continuous margin expansion.”
In fragrance, operating income rose 9% to $369.7 million, resulting in 14.8% operating income margin, an improvement of 90 basis points versus fiscal 2012.
In color cosmetics, segment growth was driven primarily by the development of the Rimmel brand, gaining market share in the United States and Europe. N.Y.C. New York Color and Manhattan, the company’s entry price level brands, also contributed to growth of the segment. Meanwhile, nail care brands OPI and Sally Hansen remained stable versus last year, the company stated. Operating income in color cosmetics rose 4% to $208.8 million, resulting in 14.2% operating income margin, an improvement of 20 basis points compared with fiscal 2012.
For the fourth quarter, net revenues totaled $1.06 billion, up 4% like-for-like and 3% as reported. Adjusted net income totaled $9.9 million compared with a loss of $2.3 million in the year-ago period.
Looking ahead, however, Coty estimates net revenues in the first quarter to marginally decline versus the year-ago period because of a deceleration of market growth in the United States and Europe. This has triggered “significant trade de-stocking activity, particularly by U.S. mass retailers,” Coty stated.