QMed to cease operations in June

By Lisa Kerner

Charlotte, N.C., May 15 - QMed, Inc. said despite a "lengthy and thorough search," the company has not found a strategic alternative, including an opportunity to sell the company.

As a result, QMed will discontinue operations in June and wind up its business, according to a company news release.

QMed management said it does not expect funds to be available for shareholder distribution.

In November, QMed announced it would explore strategic alternatives with the assistance of Lazard Middle Market.

Based in Eatontown, N.J., QMed develops evidence-based clinical information management systems for use by health plan customers.

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