ATHN Notes:

Q3 Release 11/6/08

• Revenue $35.4 mil, up 35%

• Record number of net new physicians and providers to network

  • 11,967 Active physicians in Q3 versus 8,978 last year

  • 17,297 active medical providers versus 11,510 last year

• Cash $78.5 mil and total debt $8.5 mil

IBD Article 9/2/08

• One of the best performing IPOs in 2007

• Company projecting 30% topline growth for next 5 years

• Software-as-a-service model for healthcare

• ATHN gets paid as a percentage of clients billing collections

• Very sensitive to government actions relating to healthcare and physician reimbursement.