Exhibit (c) (3)

STRICTLY CONFIDENTIAL RAYMOND JAMES & ASSOCIATES, INC. Discussion materials prepared regarding: PROJECT ALPHA OCTOBER 16, 2009

PROJECT ALPHA OVERVIEW OF MARKETING PROCESS Initial Marketing Management Presentations, Data Room Review and Preliminary Diligence Final Bid • Marketing began the third week of February • 60 total parties contacted – 24 strategic buyers – 36 financial sponsors • Initial proposals due April 3, 2009 • Ten initial proposals received – nine financial sponsors – one strategic buyer (verbal) • HIG submits indication of interest i h f$ 0 6 • “Best-and-final” proposals due May 18, 2009 • Only one refined proposal received • HIG proposal • $6.00 bid re#]affirmed and exclusivity extended for 15 days on August 8th • Lender diligence begins • HIG and lender diligence FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER p • 51 NDAs executed – 17 strategic buyers – 34 financial sponsors with a range of $5.50 to $6. 00 per share • Eight bidders selected to move forward; two were not advanced due to inadequate bids submits refined at $5.50 per share (low end of initial range) substantially completed by the end of August • Raymond James and Company distribute memo, projections, and several supplemental analyses (EBITDA build valuation metrics • Management presentations and virtual data room access for eight bidders who were moved forward • Series of subsequent verbal negotiations with HIG • “Best#]and#]final” bid of $5.65 • HIG verbally revised final bid to $6.50 • Alpha formally terminated build, metrics, detailed payor mix, reimbursement summary, San Francisco case study, segmented financial breakdown, etc.) • Raymond James and Company respond to appropriate preliminary diligence • Management meetings and calls held with Bravo management • Refined indications of interest solicited per share stated by HIG and then re#]stated as during price negotiation • Increased to $6.00 during final price negotiations, LOI submitted discussions with HIG in letter dated September 2nd • HIG revises final offer to $7.00 per share in letter dated September 21st • HIG to 1 requests • Initial indications of interest solicited • Exclusivity granted June 24th; HIG diligence begins; lender meetings and diligence begin mid to late-July revises final offer $6.60 per share verbally on October 14th

PROJECT ALPHA SUMMARY OF TERMS TRANSACTION TERMS DETAILS This summary of financial terms is provided for discussion purposes only. It is not intended to be a comprehensive listing of all of the relevant terms contained in the Agreement nor a complete description of the terms described below. The terms as described below are subject to the further terms and conditions of the Agreement. STRUCTURE ......................................................... At the effective date, Merger Sub will be merged with and into the Company and cease to exist; the Company will be the surviving corporation of the Merger. TRANSACTION ...................................................... Each share of the Company’s common stock issued and outstanding, excluding certain shares of the Company’s common stock held by the Rollover Holders, will be converted into the right to receive $6.60 per share in cash. Each of the Company’s outstanding stock options will be cancelled and the holder will receive in cash an amount equal to the product of (x) the excess, if any, of the merger consideration over the exercise price per share of common stock multiplied by (y) the total number of shares subject to the option. FINANCING .......................................................... Parent will finance the acquisition with a combination of equity, new senior and subordinated debt, and the contribution of a portion of equity and seller notes currently held by the Rollover Holders (1). B BREAK FEE .......................................................... $7.5 million. Payable by the Company in the event of a superior acquisition proposal by a third party. REVERSE BREAK FEE .............................................. $7.5 million. Payable by Parent in the event of a failed financing and subsequent failure to close. TERMINATION FEE ................................................ $10.0 million. Payable by Parent in the event that all conditions to close (including financing) are satisfied but Parent elects to terminate transaction. CONDITIONS TO CLOSING ....................................... Mutual conditions regarding material consents (as defined), including HSR. Stockholder approval. Others as specified. VOTING .............................................................. The vote required of the Alpha stockholders will be the affirmative vote by the holders of not less than a majority of the outstanding shares of Alpha common stock in favor of adopting the agreement. NO-SHOP / FIDUCIARY OUT ................................... Company shall cause its representatives not to take enumerated actions prohibited by no-shop. Board recommendation may be changed only in circumstances described in the Agreement. 2 TARGET AGREEMENT EXECUTION DATE .................... October [___], 2009. (1) Provided by Parent per management.

PROJECT ALPHA PRICE / VOLUME CHART – FROM JANUARY 26, 2009 (RJ ENGAGEMENT) $7.50 4,000,000 R i dLOI i $7 00 3,000,000 3,500,000 $6.50 $7.00 Revised LOI price: 7.00 Final Transaction price: $6.60 20.0% increase Increase in LOI price: $6.50 2,000,000 2,500,000 $5.50 $6.00 LOI price: $6.00 Indication of Interest price: $5.50 57 8% increase 1,000,000 1,500,000 $4.50 $5.00 57.8% - 500,000 $3.50 $4.00 3 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09

PROJECT ALPHA STOCK PRICE HISTOGRAMS 100.0% 90 0% 100.0% 100.0% 90 0% 100.0% TR12#]Month Trading Activity TR6#]Month Trading Activity 22.4 million shares traded 15.2 million shares traded 77.1% 60 0% 70.0% 80.0% 90.0% 62.4% 84.4% 60 0% 70.0% 80.0% 90.0% during twelve#]month period; ~134.3% of current float during six#]month period; ~91.1% of current float 32.2% 44.9% 30 0% 40.0% 50.0% 60.0% 32.8% 46.3% 30 0% 40.0% 50.0% 60.0% 1.4% 19.7% 21.2% 23.7% 22.9% 10.0% 20.0% 30.0% 13.4% 16.2% 21.9% 15.6% 10.0% 20.0% 30.0% -— — % of Total Volume Traded Cumulative Trading Percentage 4 Note: Trailing twelve and six month periods ending October 15, 2009.

PROJECT ALPHA TRANSACTION CONSIDERATION VALUATION ($millions, except per share data) Historical Actual Consensus Estimates (2) Transaction Valuation Valuation Multiples TR12 (1) 2009P 2010P Transaction Price per Share $ 6.60 Summary Financials Revenue $ 385.2 $ 403.9 $ 444.3 Common shares outstanding 28.7 EBITDA $ 33.1 $ 37.1 $ 40.3 Dilutive impact of options and warrants (3) 0.5 EPS $ 0.50 $ 0.48 $ 0.59 Vesting of restricted stock awards 0.0 Phantom stock units (4) 2.2 Valuation Multiples Total shares outstanding 31.4 Transaction enterprise value / net revenue 0.7x 0.7x 0.6x Transaction enterprise value / EBITDA 8.4x 7.5x 6.9x Transaction Equity Value $ 207.2 Transaction price per share / EPS 13.1x 13.8x 11.2x Debt 79.0 Phantom stock unit gross-up payment (5) 6.7 Alpha Transaction Prior Cash (15.0) Price Premium (6) Close Premium VWAP Premium Net debt 70.7 One-day $ 5.02 31.5% $ 4.99 32.3% Transaction Enterprise Value $ 277.9 Five-day 5.15 28.2% 5.03 31.2% 30-day 6.69 (1.3%) 5.81 13.6% 60-day 6.99 (5.6%) 6.37 3.6% 90-day 5.87 12.4% 6.13 7.7% (1) (2) Trailing twelve month period ended June 30, 2009. B d l t h ti t t S Th O (3) (4) (5) (6) Gross-up payment related to excise taxes generated by accelerated vesting of phantom stock units, per management. Based on consensus analyst research estimates, per management. Source: ThomsonOne. Historical closing prices and VWAP calculated through (including) October 15, 2009.

PROJECT ALPHA SELECT PUBLIC COMPANY ANALYSIS Total TR12 TR12 Price Diluted Equity Enterprise TTM EBITDA Price Sector Company 10/15/2009 Shares Value Debt Cash Value EBITDA Margin Performance Retail Pharmacy Amerisourcebergen $ 23.35 300.6 $ 7,019 $ 1,191 $ 913 $ 7,297 $ 972 1.4% 53.9% Distribution Cardinal Health (2) 27.91 361.1 10,078 3,638 1 ,222 12,494 1,623 1.7% (26.4%) McKesson 61.29 272.0 16,671 2,509 2 ,644 16,536 2,223 2.1% 42.5% Medical Device PSS World Medical 22.51 58.9 1,325 234 130 1,429 132 6.7% 44.6% Distribution Henry Schein 56.30 90.5 5,097 491 394 5,194 545 8.6% 29.9% Owens & Minor 47.23 41.6 1,966 208 15 2,160 207 2.7% 26.1% Specialty Distribution BioScript 7.00 39.2 275 33 -— 308 22 1.6% 152.7% Institutional Pharmacy Omnicare 22.62 117.6 2,661 2,214 274 4,601 709 11.2% (2.5%) PharMerica 18.24 30.4 554 240 41 753 101 5.3% 1.3% Alpha #] Trading $ 5.02 29.1 $ 146 $ 79 $ 15 $ 210 33.1 8.6% (5.5%) Alpha #] Transaction $ 6.60 31.4 $ 207 $ 86 $ 15 $ 278 33.1 8.6% 24.3% Enterprise Value / Revenue Enterprise Value / EBITDA P/E Sector Company TR12 CY2009E CY2010E TR12 CY2009E CY2010E TR12 CY2009E CY2010E Retail Pharmacy Amerisourcebergen 0.1x 0.1x 0.1x 7.5x 7.5x 7.1x 14.0x 14.0x 12.4x Distribution Cardinal Health (2) 0.1x 0.1x 0.1x 7.7x 8.1x 7.9x 12.3x 10.8x 14.3x McKesson 0.2x 0.2x 0.1x 7.4x 6.9x 6.7x 13.3x 15.0x 13.6x Medical Device PSS World Medical 0.7x 0.7x 0.7x 10.8x 10.6x 9.2x 21.4x 21.6x 18.5x Distribution Henry Schein 0.8x 0.8x 0.8x 9.5x 9.5x 8.9x 18.2x 17.7x 15.9x Owens & Minor 0.3x 0.3x 0.3x 10.5x 9.9x 8.8x 23.7x 19.4x 15.4x Specialty Distribution BioScript 0.2x 0.2x 0.2x 14.1x 12.8x 10.4x 21.0x 17.9x 13.0x Institutional Pharmacy Omnicare 0.7x 0.7x 0.7x 6.5x 6.5x 6.3x 10.6x 10.7x 8.3x PharMerica 0.4x 0.4x 0.4x 7.5x 7.4x 7.0x 15.1x 14.8x 12.5x Mean 0.4x 0.4x 0.4x 9.1x 8.8x 8.0x 16.6x 15.8x 13.7x Median 0.3x 0.3x 0.3x 7.7x 8.1x 7.9x 15.1x 15.0x 13.6x Alpha #] Trading 0.5x 0.5x 0.5x 6.3x 5.7x 5.2x 10.0x 10.5x 8.5x Alpha #] Transaction 0.7x 0.7x 0.6x 8.4x 7.5x 6.9x 13.1x 13.8x 11.2x 6 (1) (2) Cardinal Health spun off its CareFusion business, a medical supply management company, to its shareholders in August 2009. Cardinal published pro forma financials for the twelve month period ending June 30, 2009 in an 8-K dated 8.19.09. In this analysis, the pro forma annualized six month period ending June 30, 2009 is used as a CY2009 estimate.

PROJECT ALPHA SELECT PRECEDENT TRANSACTION ANALYSIS ($millions, except per share) Transaction Enterprise Enterprise Value / TR12 Announced Closed Target Acquiror Value (2) Net Revenue EBITDA Transactions Announced after September 2007 Aug-09 Pending MTS Medication Technology Excellere Partners $ 46.8 0.6x 6.2x Dec-08 Jan-09 Owens and Minor DTC Diabetes Medco 63.0 0.7x na Jun-08 Oct-08 Apria Blackstone 1,594.1 1.0x 5.3x Apr-08 Apr-08 Carmichael’s Cashway Pharmacy (3) SunLink Health Systems 22.8 0.5x 6.4x Mar-08 Apr-08 Biomed (4) Allion 118.0 nmf 8.0x Mean 0.7x 6.5x Median 0.6x 6.3x High 1.0x 8.0x Low 0.5x 5.3x Alpha transaction ($6.60 per share) $ 277.9 0.8x 8.4x (1) (2) (3) (4) Transactions involving a stock component are valued using the closing price of the acquiror’s equity on the day of announcement. Trailing multiples calculated using CY2007 results. EBITDA valuation multiple of 8.0x was consistent across both original transaction and earnout.

PROJECT ALPHA PREMIUMS PAID ANALYSIS ($millions, except per share data) The transactions below include (i) all-cash transactions across all industry sectors that have been announced and have closed since September 1, 2007, in which (ii) a majority of the business was acquired and (iii) transaction enterprise value was between $100.0 and $500.0 million. Source: CapitalIQ. Transaction Price / Premium Announced Closed Target Acquiror Value Share 1#]Day 5#]Day 30#]Day 60#]Day 90#]Day Jul-09 Aug-09 Noven Pharmaceuticals Inc. Hisamitsu Pharmaceutical Co., Inc. $ 350.6 $ 16.50 22.4% 14.9% 44.7% 64.7% 100.0% Jun-09 Aug-09 Monogram Biosciences, Inc. Laboratory Corp. of America Holdings 1 35.7 4.55 170.8% 164.5% 117.7% 75.0% 11.0% May-09 Jul-09 SumTotal Systems (1) Vista Equity Partners 163.0 4.85 141.3% 174.0% 159.4% 58.0% 76.4% May-09 Jun-09 Vnus Medical Technologies, Inc. Covidien plc 395.9 29.00 36.0% 35.1% 34.4% 59.8% 81.3% Dec-08 Mar-09 American Land Lease Inc. Green Courte Real Estate Partners, LLC 438.0 14.20 264.1% 273.7% 129.7% (25.9%) (28.4%) Nov-08 Dec-08 Omrix Biophamaceuticals, Inc. Johnson & Johnson 352.2 25.00 18.1% 37.9% 75.4% 8.7% 35.8% Oct-08 Dec-08 SM&A Odyssey Investment Partners , LLC 110.5 6.25 159.3% 131.5% 103.6% 73.6% 33.8% Sep-08 Nov-08 Cherokee International Corp. Lineage Power Holdings, Inc. 105.0 3.20 33.3% 48.8% 24.0% 72.0% 11.1% Sep-08 Oct-08 Gehl Company Manitou BF 4 49.8 30.00 119.6% 99.1% 100.1% 99.7% 94.4% Sep-08 Oct-08 Captaris Inc. (2) Open Text, Inc. 109.5 4.80 37.5% 42.4% 42.0% 18.8% 2.6% Sep-08 Nov-08 Eagle Test Systems, Inc. Teradyne Inc. 279.5 15.65 10.4% 8.2% 42.3% 42.7% 19.2% Aug-08 Oct-08 Greenfield Online, Inc. (3) Microsoft Corporation 4 21.5 17.50 31.8% 42.0% 60.8% 42.3% 38.7% Aug-08 Oct-08 PeopleSupport, Inc. Essar Services 1 50.5 12.25 28.5% 41.1% 36.1% 34.6% 39.0% Jul-08 Aug-08 Intervoice, Inc. Convergys Corporation 2 69.6 8.25 23.7% 54.2% 26.7% 18.4% 9.4% Jul-08 Aug-08 Excel Technology Inc. GSI Group Inc. 333.0 32.00 41.2% 45.3% 25.7% 31.3% 24.0% Jun-08 Nov-08 Community Bankshares Inc. First Citizens Bancorp and Trust Company, Inc. 1 02.6 21.00 90.9% 81.8% 76.5% 78.0% 68.7% Jun-08 Aug-08 Barrier Therapeutics Inc. Stiefel Laboratories, Inc. 133.0 4.15 135.8% 89.5% 75.1% 25.0% 34.7% Jun-08 Aug-08 MEDecision, Inc. Health Care Service Corp. 1 21.0 7.00 309.4% 288.9% 302.3% 332.1% 192.9% Jun-08 Aug-08 CAM Commerce Solutions, Inc. Great Hill Partners, LLC 146.0 40.50 7.9% 12.1% 8.6% 12.1% (0.8%) Jun-08 Aug-08 HireRight, Inc. (4) USIS Commercial Services, Inc. 192.8 19.75 95.2% 95.2% 113.3% 110.8% 127.0% (1) Premiums are measured from 4.06.09, when the company disclosed an initial offer of $3.25. (2) Premiums are measured from 3.17.08, when the company disclosed that the Board was exploring strategic alternatives. (3) Premiums are measured from 6.16.08, when the company disclosed an initial offer of $15.50. (4) Premiums are measured from 6.10.08, when the company’s disclosed an initial offer of $15.60 .

PROJECT ALPHA PREMIUMS PAID ANALYSIS CONTINUED ($millions, except per share data) Transaction Price / Premium Announced Closed Target Acquiror Value Share 1#]Day 5#]Day 30#]Day 60#]Day 90#]Day Jun Sep Jun-08 Sep-08 Tumbleweed Communications Corp.Axway Inc. $ 117.9 $ 2.70 52.5% 45.9% 112.6% 136.8% 77.6% May-08 Jun-08 Kosan Biosciences Inc. Bristol-Myers Squibb Co. 2 80.4 5.50 233.3% 243.8% 173.6% 229.3% 89.0% May-08 Aug-08 Angelica Corporation(1) Lehman Brothers Merchant Banking 293.5 22.00 (1.3%) (1.4%) (10.7%) (19.9%) (15.0%) May-08 Aug-08 MedQuist Inc. Cbay, Inc. 260.3 11.00 46.7% 56.9% 29.4% 12.2% 9.9% May-08 Aug-08 Radyne Corp. Comtech Telecommunications Corp. 1 95.0 11.50 48.6% 47.6% 35.0% 19.3% 27.5% May-08 Jun-08 Moldflow Corporation Autodesk, Inc. 190.1 22.00 12.2% 17.5% 31.6% 60.0% 37.0% Apr-08 Jun-08 Packeteer, Inc. (2) Blue Coat Systems Inc. 193.9 7.10 83.9% 51.4% 62.8% 9.4% (20.3%) Apr-08 Jul-08 180 Connect, Inc. (3) DirecTV Enterprises LLC 101.6 1.80 52.5% 91.5% 20.0% (23.7%) (41.9%) Apr-08 Jul-08 Clayton Holdings, Inc. Greenfield Partners , LLC 142.4 6.00 24.5% 10.7% 38.6% 41.5% 51.9% Apr-08 Jun-08 Iomega Corp. (4) EMC Corporation 1 63.2 3.85 44.7% 37.5% 44.7% 5.8% (6.3%) Apr-08 Aug-08 Industrial Distribution Group, Inc. Luther King Captial Management Corporation 1 26.2 12.10 18.2% 20.5% 22.3% 14.5% 6.7% Mar-08 Jul-08 Bentley Pharmaceuticals Inc. (5) Teva Pharmaceuticals Industries Limited 339.2 14.82 17.3% 14.5% 25.9% 25.1% 18.3% Mar-08 May-08 Synplicity, Inc. Synopsys Inc. 215.8 8.00 50.4% 55.6% 82.6% 50.7% 45.5% Mar-08 Apr-08 I-trax. Inc. Walgreen Co. 2 66.4 5.40 38.5% 44.0% 61.7% 67.2% 44.0% Feb-08 Apr-08 CollaGenex Pharmaceuticals Inc. Galderma Laboratories, L.P. 321.0 16.60 29.7% 27.4% 62.7% 120.5% 66.8% Feb-08 Jun-08 Encysive Pharmaceuticals Inc. Pfizer Inc. 346.8 2.35 117.6% 197.5% 226.4% 209.2% 49.7% Feb-08 Apr-08 Possis Medical MEDRAD, Inc. 319.7 19.50 35.9% 41.4% 34.9% 46.6% 43.1% Jan-08 May-08 NuCo2 Inc. Aurora Capital Group 484.0 30.00 24.6% 20.1% 16.3% 17.5% 14.7% Jan-08 Mar-08 VistaCare Inc.(6) Odyssey Healthcare Inc. 116.5 8.60 (9.5%) (4.9%) (3.9%) (15.0%) (16.7%) Jan-08 Mar-08 Lifecore Biomedical Inc. Warburg Pincus LLC 186.4 17.00 32.4% 27.2% 38.2% 28.9% 49.4% (1) Premiums are measured from 7.17.07, when the company disclosed that the company had engaged a financial advisor. (2) Premiums are measured from 3.05.07, when the company disclosed an initial offer of $5.50 . (3) Premiums are measured from 1.25.08, when the company disclosed that the buyer had acquired 10.0% of shares and may pursue an acquisition. (4) Premiums are measured from 3.10.08, when the company disclosed of an initial offer of $3.25. (5) Premiums are measured from 10.23.07, when the company disclosed a potential transaction. (6) Premiums are measured from 5.09.07, when the company disclosed that the Board was exploring strategic alternatives .

PROJECT ALPHA PREMIUMS PAID ANALYSIS CONTINUED ($millions, except per share data) Transaction Price / Premium Announced Closed Target Acquiror Value Share 1#]Day 5#]Day 30#]Day 60#]Day 90#]Day Jan-08 Feb-08 ASV Inc. Terex Corp. $ 453.1 $ 18.00 46.5% 47.9% 53.8% 43.7% 27.1% Jan-08 Oct-08 AmCOMP Incorporated Employers Holdings, Inc. 208.8 12.15 40.0% 37.1% 22.7% 21.4% 27.5% Jan-08 Apr-08 North Pointe Holdings Corp. QBE Holdings, Inc. 134.1 16.00 51.2% 46.3% 53.4% 45.3% 65.8% Dec-07 Jun-08 MTC Technologies, Inc. BAE Systems, Inc. 451.1 24.00 35.0% 51.6% 38.0% 24.3% 14.4% Dec-07 Feb-08 Electronic Clearing House Inc. Intuit Inc. 135.3 17.00 115.2% 81.4% 34.0% 63.0% 78.2% Dec-07 Jan-08 Nextest Systems Corp. Teradyne Inc. 311.7 20.00 66.8% 60.3% 52.4% 73.9% 68.9% Dec-07 Jan-08 Genesis Microchip Inc. STMicroelectronics NV 146.0 8.65 60.2% 74.7% 20.6% 14.4% 5.5% Nov-07 Dec-07 Coley Pharmaceutical Group, Inc. Pfizer Inc. 142.6 8.00 166.7% 145.4% 158.9% 137.4% 126.6% Nov-07 Jun-08 Restoration Hardware, Inc. (1) Catterton Partners / Gary Friedman 279.1 4.50 67.9% 57.9% 43.3% 20.0% (18.5%) Oct-07 Jan-08 First Consulting Group Inc. Computer Science Corporation 2 73.1 13.00 30.3% 31.8% 30.3% 44.4% 43.3% Oct-07 Feb-08 Bradley Pharmaceuticals Inc. (2) Nycomed US, Inc. 342.1 20.00 8.5% 9.1% (0.9%) 9.1% (4.8%) Oct-07 Apr-08 E-Z-EM Inc. Bracco Diagnostics, Inc. 197.0 21.00 27.9% 33.2% 39.2% 39.2% 33.8% Oct-07 Apr-08 Covad Communications Group Inc. Platinum Equity, LLC 440.1 1.02 59.4% 61.9% 39.7% 17.2% 12.7% Sep-07 Nov-07 United Retail Group, Inc. Redcats USA, Inc. 147.5 13.70 81.5% 60.2% 26.9% 11.7% (0.1%) Mean 66.4% 67.1% 61.4% 52.4% 36.7% Median 43.0% 46.9% 40.9% 40.3% 33.8% High 309.4% 288.9% 302.3% 332.1% 192.9% Low (9.5%) (4.9%) (10.7%) (25.9%) (41.9%) Oct-09 Alpha Merger Sub $ 277.9 $6.60 31.5% 28.2% (1.3%) (5.6%) 12.4% (1) Premiums are measured from 11.08.07, when the company disclosed an initial offer of $6.70 . (2) Premiums are measured from 5.29.07, when the company disclosed an initial offer of $21.50.