Medecision Cuts IPO Forecast & Underwriter

Medecision Inc., a Wayne, Pa.-based provider of medical management solutions to healthcare payers and regional health information organizations, has reduced its IPO forecast from $14.-$16 per share to $11.50-$13.50 per share. It still plans to sell 5.5 million shares, and trade on the Nasdaq under ticker symbol MEDE. The company also dropped Wachovia Securities as a co-lead underwriter. Cowen & Co. and CIBC world Markets now will split those duties. Medecision has raised $38.4 million in VC funding from firms like Grotech Capital Group, Stockwell Fund, Liberty Ventures, DWS Investment and Britannia Business Expansion Fund. www.medecision.com