Sabratek Acquires Moon Communications, Internet Portal/ASP Company
PR Newswire - July 06, 1999 07:14
Acquisition is a Critical Anchor in Sabratek's Clinical Connectivity and Data Management Strategy
SKOKIE, Ill., July 6 /PRNewswire/ -- Sabratek Corporation (Nasdaq: SBTK) today announced that it has acquired Unitron Medical Communications, Inc. d.b.a. Moon Communications Inc. (MOON) by issuing approximately 550K shares of Sabratek common stock to the former Unitron shareholders.
MOON was founded in 1994 as a clinical information management network. With Sabratek's involvement and guidance since the execution of a product licensing agreement, MOON has been evolving into a vertical healthcare portal with characteristics of an Application Service Provider (ASP). In addition to providing its core clinical management system, MOON will host complementary clinical and administrative applications provided by its strategic partners.
K. Shan Padda, CEO of Sabratek, stated, "Our goal through MOON is the creation of the first ever all-encompassing, interactive, web-enabled, on-line medical network whereby patients, physicians, clinical providers, payors and all other constituents in healthcare are linked together." Padda added, "Sabratek was founded with the vision of providing tools to facilitate high quality care, at a reasonable cost, to the greatest possible population. The healthcare market needed tools that would allow the patient point of care (POC) to be almost anywhere, and interactive information systems to capture and convey POC patient status to all of the various constituencies. Our smart devices facilitate the first part of this market need and MOON the second part. From the start, we built our medical devices with communication capabilities supporting the real-time capture and transmission of the clinical data which enables physicians not only to monitor, but to treat, patients anywhere in the world via a standard telephone line. The acquisition of MOON fulfills the connectivity aspect of that vision."
John Reilly, Senior Vice President, CFO and Treasurer of Sabratek, noted that, "To understand the potential of MOON, think of the services offered by the other internet healthcare providers, then add the aspect of clinical data to the equation. In addition to the e-commerce revenue stream, our goal is that through data mining and other computational intelligence techniques, MOON will provide outcomes analysis that will be extremely valuable to the healthcare industry. This includes enhanced treatment protocols, drug efficacy studies and other derived results."
"We are very excited about, and are getting ready for, our controlled market launch of OneMedPlace.com, MOON's internet portal," said Jay Hill, MOON's CEO. "We have until now remained in very much of a stealth mode, as we incorporated knowledge gained from trial sites to make our system as robust as it could be. Over the course of 1999, we look forward to systematic implementation of our product and rollout strategy. Our goal is to make OneMedPlace.com the de facto web based network of choice for physicians, patients, providers and payors."
Sabratek Corporation is a clinical connectivity company consisting of eight divisions and subsidiaries. Sabratek develops, produces and markets technologically advanced, easy-to-use, smart, interactive, internet enabled medical devices that work seamlessly together to allow healthcare providers to lower costs, expand access and maintain quality across the continuum of care.
This press release contains forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements are contained in the Company's periodic reports filed under the Securities Exchange Act of 1934, as amended (copies of which are available upon request from the Company's Investor Relations Department).
SOURCE Sabratek Corporation
/CONTACT: John Reilly, Chief Financial Officer of Sabratek Corporation, 847-720-2400; or William Roll, Investor Relations, or Ellen Paz, Media Relations, both of Citigate Dewe Rogerson, 212-688-6840, for Sabratek Corporation/
/Web site: sabratek.com
(SBTK) |
