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Avista plans stock buyback after $335M sale of Ecova

SPOKANE, Wash. — Avista Corp., said Friday it plans to repurchase up to 4 million shares of its outstanding common stock, provided the planned sale of its energy management services unit Ecova is closed.

The $335 million sale of Ecova to Cofely USA, a subsidiary of GDF SUEZ, a French multinational electric utility company, was announced May 29. The deal is expected to close in July, and Avista anticipates its stock buyback to begin after on or after July 7.

Ecova, which provides management services for energy use, expenses and data for nearly a fourth of the Fortune 500 companies and other firms, employs about 1,500 people.

Ecova reported a big jump in income to $7.1 million in 2013, compared to $1.8 million in 2012.

Community Health Center's Medford clinic has been recognized as a Level 3 Patient-Centered Medical Home, the highest standard given by the National Committee for Quality Assurance.

PCMH recognition indicates CHC has the tools, systems and resources to coordinate care for patients with multiple chronic health conditions, such as diabetes and asthma.

Best Western Horizon Inn in Medford has received a TripAdvisor Certificate of Excellence award for the fourth straight year.

The award takes into consideration hospitality excellence and traveler reviews. Businesses must maintain an overall TripAdvisor bubble rating of at least four out of five, among other requirements.

Compiled from staff reports