(COMTEX) B: MedicaLogic Announces Results of Bankruptcy Auction
B: MedicaLogic Announces Results of Bankruptcy Auction
HILLSBORO, Ore., Mar 19, 2002 (BUSINESS WIRE) -- MedicaLogic (OTC:MDLIQ), today
announced that GE Medical Systems Information Technologies, a unit of General
Electric Company, has been declared the winning bidder at an auction to acquire
the digital health record business of MedicaLogic, a provider of electronic
medical records for outpatient settings.
GE Medical Systems initially announced its agreement to acquire the digital
health record assets of MedicaLogic in January of this year. An auction was held
in Wilmington, Delaware on March 18, 2002. GE Medical Systems' winning bid was
for the amount of $35,250,000 and is subject to bankruptcy court approval that
is expected to be received at a hearing today.
About MedicaLogic
MedicaLogic/Medscape, Inc. ("MedicaLogic")(OTC:MDLIQ) is a leading provider of
digital health records. The core of MedicaLogic's product portfolio is the
industry-leading Digital Health Record (DHR). DHR applications and services are
an integral part of the practice of medicine and are used every day by
physicians and consumers across the country.
MedicaLogic's DHR enables physicians to access patient information, share data
with existing systems, communicate among practice members and capture and store
quantifiable data for patient-by-patient or population-based studies. The DHR
also enables practice sites to interact with their patients electronically to
answer questions, schedule appointments and address personal health concerns,
while offering consumers private access to their medical records and related
disease management information and services. More than 16 million patients now
have digital records hosted on MedicaLogic systems. More information about
MedicaLogic's products and services is available on the Web at
www.medicalogic.com.
The Company, headquartered in Hillsboro, Oregon, currently employs approximately
200 people.
MedicaLogic and Logician are registered trademarks of MedicaLogic/Medscape, Inc.
in the United States. Other product and brand names are trademarks of their
respective owners.
About GE Medical Systems Information Technologies
GE Medical Systems Information Technologies provides hospitals and healthcare
systems with advanced software and technologies to improve their clinical
performance. The Company's expertise spans the areas of cardiology, patient
monitoring, image management, clinical communications, clinical information
systems and Six Sigma-based management tools to enable a real-time, integrated
electronic medical record for the in-and outpatient settings. GE Medical Systems
Information Technologies is a business of GE Medical Systems, an $8 billion
global leader in medical imaging and technology. Additional information about GE
Medical Systems can be found at www.gemedical.com.
CONTACT: GE Medical Systems Information Technologies
Tesha Urban, 414/362-2351
tesha.urban@med.ge.com
or
Young & Roehr Group
Alexa Venegas, 503/222-0626 ext. 542
avenegas@young-roehr.com
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KEYWORD: OREGON DELAWARE
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
HARDWARE
MEDICAL
NETWORKING
SOFTWARE
SOURCE:
MedicaLogic
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