Medix Announces Merger With Automated Design Concepts; Merger Diversifies<p>iHealth Software Provider's Service Offerings
NEW YORK, Mar 16, 2000 /PRNewswire via COMTEX/ -- John Prufeta, president and
CEO of Medix Resources, Inc. (OTC Bulletin Board: MDIX), today announced the
Company's merger with Automated Design Concepts (ADC), a New Jersey-based
Internet hardware, hosting, and software development firm, specializing in
healthcare and e-commerce strategies. Medix provides Internet-based healthcare
communication, data integration, and transaction processing software through its
Cymedix.com product line.
ADC was created in 1997 by David R. Pfeil in response to a need for integrated
healthcare automation systems and e-commerce. ADC customer applications cover a
wide range of needs from introductory Web presence sites to full-scale secure
e-commerce web sites and corporate Intranets. ADC also develops and maintains a
series of ASP software applications for the healthcare and education industries.
Pfeil is president and chief operating officer of Medix's wholly-owned
subsidiary Cymedix Lynx Corporation and a member of the Medix board of
directors. While the exact terms of the merger were not released, ADC founder
David Pfeil received a combination of cash and common stock in exchange for ADC.
"This is an important move for Medix," stated Prufeta. "ADC and Medix have been
working together for the last year. The official combination of ADC with Medix
will accelerate the completion of the thin-client and browser versions of the
Cymedix.com application."
"ADC brings to Medix strong experience in e-commerce development, which will be
applied to the healthcare community," stated Pfeil. "This technology has already
been deployed at ADC's www.medicodes.com site which enables healthcare providers
to search a national database for billing codes, physician UPINs, diagnosis
codes, and more."
Medix Resources, through Cymedix Lynx Corporation, offers Cymedix.com, a suite
of fully-secure, patented Internet communications software products, to the
healthcare industry. Additional information about Medix Resources and its
products and services can be found by visiting its Web sites,
www.medixresources.com and www.cymedix.com, or by calling 800/326-8773.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release, which are not historical facts,
contain forward-looking information with respect to plans, projections and/or
future performance of the Company, the occurrence of which involve certain risks
and uncertainties detailed in the Company's Form 10-KSB/A for 1998, which was
filed with the Securities and Exchange Commission on July 23, 1999, and its 1999
third quarter Form 10-QSB, which was filed with the Securities and Exchange
Commission on November 10, 1999. This information is available from the SEC or
the Company.
SOURCE Medix Resources, Inc.
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