Hey, we got a company with backbone, who would have thought it?
Advanced Health Corporation Believes Previously Announced Complaint is Without Merit and Expects No Impact from Limited Temporary Restraining Order
TARRYTOWN, N.Y.--(BUSINESS WIRE)--Nov. 5, 1998--Advanced Health Corporation (Nasdaq:ADVH) and its wholly owned subsidiary Advanced Health Technologies believe that Bukstel & Halfpenny, Inc.'s (BHI) previously announced complaint is entirely without merit.
Advanced Health Corporation has filed a motion to have the action dismissed and to have sanctions imposed against BHI's counsel based on the frivolous nature of its claims. BHI, a corporate "shell," is currently under the control of Edward Bukstel, a former Advanced Health Technologies employee who was discharged by the Company in April, 1998. Charles Halfpenny, a co-founder and former Director of BHI and the chief developer and architect of Dr. Chart(tm) and all related software at BHI, continues to be employed by Advanced Health Technologies and continues to be a major contributor to the development of Dr. Chart(tm) and related software.
The Company expects that a limited, temporary restraining order related to BHI's complaint will neither have any impact on Advanced Health Technologies' ability to perform its work and obligations nor have any adverse impact on new or existing customers of Advanced Health Technologies in the ordinary course of its business. In addition, the temporary restraining order has no affect on Advanced Health Technologies' ownership of its software, including Dr. Chart(tm) and related software. The limited, temporary restraining order issued by a New York State court enjoins Advanced Health Technologies from transferring software source code for Dr. Chart(tm) and related software products or entering into new contracts which would have software source code escrow provisions, without the court's permission through November 17, 1998. Such transfer or escrow would not be expected to occur in the ordinary course of Advanced Health Technologies' business.
Advanced Health is a leading health care services company that vertically integrates outsourcing services with clinical information systems. Through its Advanced Health Management subsidiary, the Company provides outsourcing services to independent and hospital-affiliated physician practices and networks. Through its Advanced Health Technologies subsidiary, the Company provides clinical information solutions to health care organizations. These information systems provide physicians and integrated delivery systems with patient-specific clinical and health plan information at the point of care to improve the quality and reduce the costs of health care.
This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties. No assurances can be given as to the outcome of the lawsuit. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
CONTACT:
Advanced Health Corporation
Arthur Dague, 914/524-4783
adague@advhealth.com |
