Informission Group Continues Expansion In The U.S.
1998/09/22
MONTREAL, QUEBEC--
Informission signs license agreement with leading U.S. Managed
Care Company
Informission Group Inc., announced today the signing of a license
agreement between Informission Inc., a wholly-owned U.S.
subsidiary of Informission Group Inc., and PacifiCare Health
Systems, Inc., (Nasdaq: PHSYA and PHSYB). PacifiCare Health
Systems is one of the leading managed health care companies in the
United States. PacifiCare Health Systems is currently
implementing Informission's software solution in Denver.
"The signing of this agreement marks Informission Group's first
penetration into the U.S. health care sector which should most
certainly act as a leverage for future agreements of this kind,"
stated Informission Group CEO and President, Jacques Topping.
RECYC-ENTERPRISE(TM) represents Informission Group's flagship
product for legacy system modernization. It includes several
modules:
- RECYC2000(TM), a leading solution addressing the Year 2000
conversion problem;
- RECYC2000-AUDIT(TM), created for companies who wish to ensure
their conversion work is Year-2000 compliant;
- RECYC-EURO(TM), designed to address the transition to a single
European currency;
- RECYC-ASSIST(TM), a new tool which helps renovate and test
applications in Year-2000, Euro, or other projects requiring major
changes to an application; and
- RECYC-WEB OBJECT FACTORY(TM), a software product oriented
towards modernizing legacy systems and enabling faster and
smoother transitions to Web-based applications.
"Our license agreement with Informission is one of many ways
PacifiCare is looking to address the Year 2000 conversion issue.
Their solution will help us efficiently and quickly bring more
value to our operations for our members, customers, and
physicians," said Grace Wakamoto, Information Technology Manager,
PacifiCare Health Systems.
Pacific Health Care Systems
PacifiCare Health Systems is one of the leading managed health
care services companies in the United States. Primary operations
include managed care products for employer groups and Medicare
beneficiaries in 10 states and Guam serving approximately 3.7
million members. Other specialty managed care operations include
life and health insurance, behavioral health services, dental and
vision services, pharmacy benefit management and Medicare risk
management services.
Informission Group Inc.
Informission Group Inc. is an information technology company
providing innovative and cost-effective solutions for development,
migration and conversion of information systems. The company
offers proprietary re-engineering and telecommunication software
products as well as system integration solutions. Revenues for the
six months ending May 31, 1998, were $13 million, compared to $5.2
million for the same period last year which represents a 150
percent increase. This growth in revenues is accompanied by an
increase in earnings of 573 percent to $1.7 million and earnings
per share were $0.17 compared to $0.03 for the same period. Last
year, Informission Group was selected one of the 50 best-managed
private companies in Canada by Arthur Andersen and the Financial
Post. The Company was certified ISO 9001 in 1995. |
