LOS ANGELES--(BW HealthWire)--Sept. 20, 1999--Meridian Holdings,
Inc. (OTC BB:MEHO) (http://www.meho.net), today announced the
acquisition of a 51% interest in Intercare Diagnostics, Inc.
(http://www.intercare.com), a California Corporation and United States
FDA registered Biomedical Software Development Company located in the
city of Inglewood, Calif., in exchange for "Banner" Advertisement and
Promotion of Intercare Products and Services on all high traffic
websites of Meridian Holdings, Inc., as well as assumption of current
and future software development costs and debts of Intercare.
Intercare has developed several healthcare related software
programs including the Mirage Systems Biofeedback Interface, the first
United States FDA approved software program for relaxation,
self-regulation and biofeedback training, Body Pain Trigger Points and
most recently released version 5.0 Mirage Systems Internet-based
Healthcare Transaction Management software, all with a street market
value of over $5,000,000.
Recently, Intercare signed a distribution agreement with
DigitalRiver Corp. (http://www.digitalriver.com), a major Internet
Distributor of Software Programs, to market its software to various
retail channels, including but not limited; to Walmart, CompUSA, etc,
as well as electronic download sales over the Internet.
The projected revenue from software sales over the next 12 months
is approximately $2,000,000.
Under this stock purchase agreement, Intercare will become a
subsidiary of Meridian Holdings, Inc.
From time to time, the Company may issue press releases that
contain "forward looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and is subject to the Safe Harbor created by
those sections. This material may contain statements about expected
future events and/or financial results that are forward-looking in
nature and subject to risks and uncertainties. For those statements,
the Company claims the protection of the Safe Harbor for
forward-looking statement provisions contained in the Private
Securities Litigation Reform Act of 1995 and any amendments thereto.
Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
goals, assumptions or future events or performance are not statements
of historical fact and may be "forward looking statements". "Forward
looking statements" are based upon expectations, estimates and
projections at the time the statements are made that involve a number
of risks and uncertainties which could cause actual results or events
to differ materially from those anticipated. "Forward looking
statements" in this action may be identified through the use of words
such as "expects", "will", "anticipates", "estimates", "believes" or
by statements indicating certain actions "may", "could", or "might"
occur.
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CONTACT: Meridian Holdings, Inc.
Anthony C. Dike, 213/627-8878
acdike@capnet.com
capnet.com
or
High Desert Consultants, Inc.
Thomas R. Meinders ,702/220-3120
meinders@aol.com
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