Revenues increased 96% to $1.3 million. Net loss from continuing operations decreased 3% to $4.5 million. They announced that they have sold a significant portion of its ATM/Scrip terminal business to outside investors. The terms of this agreement provide for the buyers to purchase 420 ATM/Scrip terminals from the company, and to assume approximately $700,000 worth of the company's capitalized lease obligations and $70,000 in outstanding accounts payable. As a result of this transaction, SIMS will reduce its monthly overhead expenses by an estimated $40,000.
This company has decided to focus on health-care content and products.
Can this be another Healtheon(HLTH)?
SIMS Communications Launches JustMed.com Internet Health-Care Portal and Grand Opening of Home Medical Equipment Electronic Commerce Store
IRVINE, Calif.--(BUSINESS WIRE)--July 1, 1999--SIMS Communications Inc. (Nasdaq:SIMS - news) Thursday announced it has launched its JustMed.com Internet Healthcare Web Portal and the grand opening of its Electronic Commerce Store located at www.justmed.com.
This content-rich Web site is focused on providing extensive health-care content and products to both the general public and health-care industry professionals. The company's goal is to become the recognized health-care portal leader on the Internet.
''Currently, it is estimated that more than 22 million U.S. adults use the Internet to access health information,'' stated Mark E. Bennett, SIMS president and chief executive officer.
''At JustMed.com, we provide a feature-rich site enabling visitors to select from a variety of health-care topics and options. Additionally, they have the ability to purchase online in a secure environment, at our Med Store, an extensive line of home medical equipment (HME) products including ambulatory aids, bathroom safety items, incontinence, ostomy, skin-care and wound-care products.''
Continued Bennett, ''JustMed.com soon will provide doctors and health-care professionals their own area focused on their specific interests including medical research, health-care industry news items and the exchange of health-care industry information.
''JustMed.com also will become the portal entry for our MedCard System physician clients to enter their billing data and obtain patient medical insurance eligibility data. Throughout the year, we shall continue to add innovative features and functions.''
SIMS Communications provides electronic transaction solutions for the health-care industry. The company's products include its MedCard System, a system that provides 100-percent paperless electronic data entry at the physician's office for all medical insurance billings and collections; and its One Medical Service System, a cost-effective solution that gives pharmacies the ability to provide a complete, one-stop shopping solution for all its customers' home medical equipment (HME) and home health-care needs.
justmed.com |
