MEHO news:
Meridian Holdings Inks Agreement With Osprey Data Systems for WorldwideCo-Branding and Marketing of E-Business Technologies
LOS ANGELES, March 22 /PRNewswire/ -- Anthony C. Dike, MD, chairman and chief executive officer of Meridian Holdings, Inc. (OTC Bulletin Board: MEHO), today announced that the company has entered into a joint venture with Osprey Data Systems Corp. (San Clemente). Pursuant to the agreement, Meridian and Osprey will participate in a global enterprise to cooperatively develop and market e-commerce, e-communications, and e-business solutions worldwide. Under the joint venture, each company will contribute equally to the resources and will benefit equally from the proceeds of venture projects.
To address issues associated with use of the Internet for business and electronic information management, Osprey Data Systems has created hardware and software modules and an information management system that provides enhanced performance, ease-of-use, scalability and multilevel security, at lower prices than equivalent systems implemented with standard components. Osprey's Net-Gain 2000, for 5-100 users, is designed to improve real-time system performance and to minimize problems associated with entry-level usage, as well as a larger number of networked users in operating system environments such as NT, LINUX, or higher performance systems such as Sun's Solaris.
Projects contemplated by the joint venture include the development of hardware and a compatible software suite of products that will enhance automated communication, information processing, filing and group distribution in a highly secure vital private network environment. This technology will provide utility in areas of health care, transaction management, telemedicine and distant learning.
"We are enthusiastic about the potential represented in this joint venture agreement with Osprey, whose principals have proven track records in marketing and sales and are specialists in storage and retrieval, computer architecture and network technology," said Dike. "Our initial target market is underserved, and we look forward to exploiting mutually beneficial market opportunities globally."
About Meridian Holdings, Inc.
Meridian Holdings, Inc. is an acquisition-oriented holding company focused on building, operating and managing a portfolio of business-to-business companies. Meridian seeks to acquire majority or controlling interests in companies engaged in e-commerce, e-communication, and e-business services, which will allow the holding company to actively participate in management, operations and finances. Meridian's network of affiliated companies is designed to encourage maximum leverage of information technology, operational excellence, industry expertise and synergistic business opportunity. Meridian is committed to building shareholder value by positioning affiliated companies as independent business entities in which Meridian shareholders enjoy equity participation. Visit Meridian's web site at www.meho.com.
NOTE: Statements contained in this release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange of 1934 and are made subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements, including but not limited to statements about expected future events and/or financial results, invoke risk and uncertainties and that actual future events and/or the company's actual results may differ materially from such forward-looking statements. Such risks and uncertainties include but are not limited to the company's ability to develop new business in the area of managed care, its ability to attract and retain key personnel, its ability to finance its plans for growth, general economic conditions and other factors discussed in such forward-looking statements and/or the company's periodic filings with the Securities and Exchange Commission.
SOURCE Meridian Holdings, Inc.
CO: Meridian Holdings, Inc.; Osprey Data Systems Corp.
ST: California
IN: CPR MLM
SU: JVN PDT
03/22/2000 06:00 EST prnewswire.com
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