Subj: e-MedSoft.com Acquires Resource Healthcare
Date: 6/22/00 12:46:17 AM Pacific Daylight Time
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e-MedSoft.com Acquires Resource Healthcare
JACKSONVILLE BEACH, Fla.--(BUSINESS WIRE)--June 22, 2000-- e-MedSoft.com (AMEX:MED), a leading Application Service Provider (ASP) of comprehensive healthcare portal solutions, today announced the acquisition of the business operations of privately held Resource Healthcare, LLC, a Nevada-based company specializing in the provision of institutional pharmacy services to long-term care facilities.
The combination of Resource Healthcare with e-MedSoft.com's existing Pharmacy Services Division strengthens the company's strategic position in these markets and creates the largest institutional pharmacy network in Nevada.
Resource Healthcare provides pharmaceutical and infusion services to long-term care, assisted living and residential care facilities throughout Nevada. Services offered by Resource Healthcare include consulting, training, billing, supplies management and facility systems development.
This transaction will enhance e-MedSoft.com's Pharmacy Services Division with the integration of Resource Pharmacy's senior management, which has more than 25 years of experience in all facets of the provision of institutional pharmacy services. Additionally, e-MedSoft will immediately recognize the synergies associated with Resource Healthcare's 3,500-bed customer base.
"The combined strengths and shared vision of e-MedSoft.com and Resource Healthcare make for a powerful partnership that addresses both technology and business issues. This acquisition brings us closer to our goal of providing a one-stop, Internet-enabled pharmacy management solution for our clients, while significantly broadening our reach within the e-health services market," said John F. Andrews, chairman and chief executive officer of e-MedSoft.com.
Stephen W. Carlton, president and founder of Resource Healthcare, stated, "We are excited to join forces with e-MedSoft.com to provide a dynamic and comprehensive set of e-health solutions for our customers. The e-MedSoft technology will enable us to provide much-needed services that are unequaled in our marketplace, while reducing the cost of care for our clients, and better positioning our pharmacies to meet the challenges of the Medicare prospective payment system."
About Resource Healthcare Corporation
Resource Healthcare is a leading provider of institutional pharmacy solutions throughout Nevada. Resource Healthcare's service offering includes pharmaceutical services, consulting, intravenous therapy, enteral therapy services, and wound care supplies and billing services tailored to address the current reimbursement environment.
About e-MedSoft.com
e-MedSoft.com, a leading Application Service Provider (ASP) of comprehensive healthcare portal solutions, is leading a transition in the medical industry, as it is the first subscription-based healthcare management system available for delivery through the Internet. Users of the software are charged a small up front installation fee, and an ongoing subscription fee based on transaction volume. The medical software is a complete healthcare management system.
Through the Internet and its Java-based integrator which utilizes Sun Microsystems, Inc.'s (NASDAQ:SUNW) Java technology, e-MedSoft.com's software facilitates communication across diverse platforms and languages in unlimited capacity, allowing for the inter link of doctors, hospitals, clinics, HMO's, insurance companies, financiers and government agencies. The ease and low cost with which it can be implemented, its Internet-based ASP model which reduces the need to build internal IT infrastructures, and its ability to allow for the exchange of information across diverse platforms and systems bode well for its widespread adoption by the medical community.
e-MedSoft.com also operates the e-Net Technology group of companies. e-Net group focuses on removing the complexity of Web-enabling business processes by providing a complete range of Internet Managed Services and Information Technology solutions, and by utilizing strategic partners Sun Microsystems, Oracle Corporation and Cisco Systems Ltd.
e-MedSoft.com's products are built on the foundations of speed, ease of use, security, scalability and resilience. For more information, see e-medsoft.com, www.enetgroup.co.uk, and www.magnumfinancial.com.
Statements in this news release that relate to management's expectations, intentions or beliefs concerning future plans, expectations, events and performance are "forward looking" within the meaning of the federal securities laws. These forward-looking statements include assumptions, beliefs and opinions relating to the company's business and growth strategy based upon management's interpretation and analysis of its own contractual and legal rights, of management's ability to satisfy industry and consumer needs with its technologies, of health-care industry trends, and of management's ability to successfully develop, implement, market and/or sell its network transaction processing services, software programs, clinical and financial transaction services, and e-commerce systems to its clientele. Management's forward-looking statements further assume that the company will be able to successfully develop and execute on its strategic relationships. Many known and unknown risks, uncertainties and other factors, including general economic conditions and risk factors detailed from time to time in news releases and the company's filings with the Securities and Exchange Commission, may cause these forward-looking statements to be incorrect in whole or in part. The company expressly disclaims any intent or obligation to update any forward-looking statements. Actual results or events could differ materially from those anticipated in the forward-looking statements due to a variety of factors set out above, including, without limitation, acceptance by customers of the company's products, changing technology, competition in the health-care market, government regulation of health care, the company's limited operating history, general economic conditions, availability of capital and other factors.
Note to Editors: Java and 100% Pure Java are trademarks of Sun Microsystems Inc. in the United States and other countries. All other trademarks, tradenames, registered trademarks or registered tradenames are the property of their respective holders.
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CONTACT:
e-MedSoft.com, Jacksonville Beach, Fla.
Beth Alpert, 904/543-1066
balpert@e-medsoft.com
or
For Investor Relations,
Magnum Financial Group LLC, Los Angeles
213/488-0443
Michael Manahan
mike@magnumfinancial.com
Jeff Yu
jeff@magnumfinancial.com
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