Orange County Data Critical Cuts Jobs, Plans Move to Tustin
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Data Critical Corp., a wireless communication company that supplies patient information to health-care providers, is cutting about 60 jobs, closing two facilities and moving its headquarters to Tustin from Bothell, Wash.
The company will cut its work force 22%, to 210 employees from 270. Most cuts, which will include some senior managers, will come from closing two Seattle-area facilities, chief financial officer Michael Singer said.
The company said it is seeking to reduce costs, expand its business and becoming profitable. Data Critical’s shares have fallen 75% since it first went public in November 1999. Its stock gained 1 cent Friday to close at $2.01 a share on the Nasdaq.
Data Critical, which expects to save about $2 million a quarter with the cuts, will continue to operate facilities in Tustin, Oklahoma City and Fairfield, N.J. It will take a $3-million charge for severance and moving costs.
The company also said that it has closed its acquisition of VitalCom Inc., a Tustin developer and manufacturer of products that monitor patients’ vital signs, in an $11-million stock swap.
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