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Healthways inks QuitNet deal

Stock's gain more than double the market's


10-08-2009 12:19 PM

Healthways Inc. today announced it has signed a three-year contract with the Wyoming Department of Health to offer its tobacco cessation program, QuitNet, to Wyoming residents.

The program uses phone and online professional counseling, an online support network and discounted or free medication to help smokers kick the habit. It was acquired by Healthways as part of its $450 million purchase of Axia Health Management in 2006. Since 1995, the program has helped more than a million people quit smoking.

The company didn't disclose a value for the contract, but a study of managed-care organizations from earlier this decade put the annual cost per plan member at about $7.50.

Healthways stock (Ticker: HWAY) jumped on the news and were up nearly 3 percent to $15.52 at about 12:15 p.m. The S&P 500 was up about 0.9 percent at that time.

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