MAITLAND, Fla.--(BUSINESS WIRE)--March 19, 1997--
Strengthens Company's Position In Laboratory
Information Systems Market
Dynamic Healthcare Technologies today announced the signing of a letter of intent to acquire Dynacor, Inc., of Apple Valley,
MN.
Dynacor shareholders will receive 250,000 shares of Dynamic's common stock. The transaction is expected to be accounted
for as a pooling of interest and is subject to definitive agreements and approvals of the Dynacor shareholders and the Boards of
both companies. The closing is expected to be in the second quarter.
Dynacor, a privately-held company founded in 1978, concentrates solely on the design and implementation of laboratory
information systems (LIS) to hospitals, health maintenance organizations, physicians' office laboratories, and reference
laboratories. Dynacor markets the PREMIER Series laboratory information system for the IBM AS/400 mid-range computer
platform. Dynacor has 48 customers serving 174 laboratories. For the year ended June 30, 1996, Dynacor reported revenues
of $3.3 million and currently has 40 employees.
Management believes that this acquisition is consistent with the Company's strategic plan for growth. The acquisition of
Dynacor:
-- Increases the customer base and expands cross-selling opportunities.
-- Strengthens the Company's position in the laboratory information systems market.
-- Expands the Company's laboratory information systems development resources and provides the opportunity to combine
functional and technical strengths of two proven departmental solutions: Dynamic's LabPro 2000 and Dynacor's PREMIER
Series.
-- Increases the Company's annualized support revenue base by $1.3 million to, in excess of, $12 million.
Mitchel J. Laskey, Dynamic's president and chief executive officer, commented, "Acquiring Dynacor strategically positions
Dynamic in the LIS marketplace and creates new development opportunities for our suite of clinical information systems."
Dynacor president Craig Arneson stated, "We are excited about the many opportunities that this relationship presents for
Dynacor customers and employees. The numerous synergies between our companies will certainly enhance our ability to
provide quality products and services. Dynamic has shown us they are dedicated to the laboratory information system business.
It has always been Dynacor's goal to provide the best products and services on the LIS marketplace, and I'm convinced that
by joining forces, Dynacor and Dynamic will jointly reach that goal."
Dynamic Healthcare Technologies, Inc. develops, markets and supports enterprise-wide information solutions that enable the
efficient capture, storage, archival and retrieval of electronic health information and the world-wide sharing of this information
across the continuum of care. Headquartered in Maitland, Florida, the Company maintains a Radiology Technology Center in
Minnetonka, Minnesota and a Clinical Solutions Center in Waltham Massachusetts.
PREMIER Series is a trademark of Dynacor Inc. and IBM and AS/400 are registered trademarks of International Business
Machines, Inc.
Editor's Note: This release is available on the Internet at noonanrusso.com
CONTACT: Dynamic Healthcare Technologies
Mary Lu Lander (media)
Vice President, Marketing
mlander@dht.com
Mitchel J. Laskey (investors)
President and Chief Executive Officer
mlaskey@dht.com
1-800-832-3020
or
Noonan/Russo Communications, Inc.
212-696-4455
Jessica Livingston (investors) ext. 229
Heather Hennessy (media) ext. 274
e-mail: news@noonanrusso.com |
