LanVision Systems, Inc. Retains CIBC Oppenheimer Corp. to Explore Alternatives to Maximize Shareholder Value
December 2, 1998 08:11 AM CINCINNATI, Dec. 2 /PRNewswire/ -- LanVision Systems, Inc. LANV today announced that it has retained CIBC Oppenheimer as a financial advisor to evaluate alternatives for maximizing shareholder value.
Brian Patsy, President and Chief Executive Officer of LanVision, commented, "Currently, we feel that LanVision's stock price does not accurately reflect the Company's recent accomplishments and future prospects in the marketplace. For example, revenues are running nearly 60% ahead of the previous year, operating expenses have been significantly reduced, our web-browser based WebView(TM) product and 'thin client' approach is leading the industry, our VHS division is beginning to grow revenues and our SMS relationship is beginning to show significant revenue potential. Accordingly, we are very pleased with our relationship with CIBC Oppenheimer to assist the Company in evaluating several possible strategies to enhance shareholder value and optimize our position in the marketplace."
LanVision is a leading provider of Healthcare Information Access Systems and web-based outsourced data center operations that enable hospitals and integrated healthcare networks to capture, store, manage, route, retrieve and process vast amounts of clinical and financial patient information. The Company's systems deliver on-line enterprise-wide access to fully-updated patient information which historically was maintained on a variety of media, including paper, magnetic disk, optical disk, x-ray film, video, audio and microfilm. LanVision's systems, which incorporate data management, document imaging/management and workflow technologies, consolidate patient information into a single repository and provide fast and efficient access to patient information from universal workstations located throughout the enterprise, including the point of patient care. The systems are specifically designed to meet the needs of physicians and other medical and administrative personnel and can accommodate multiple users requiring simultaneous access to patient information, thereby eliminating file contention. By providing access to all forms of patient information, the Company believes that its Healthcare Information Access Systems are essential components of the computer-based patient record. LanVision has installed its ChartVision(R) Healthcare Information Access System, or AccountVision(TM) Patient Financial Services System in an impressive list of leading healthcare providers including UCSF Stanford Healthcare, University of Pittsburgh Medical Center, Albert Einstein and Beth Israel Medical Centers, University of Cincinnati Hospital, and Memorial Sloan-Kettering Cancer Center.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties. These risks and uncertainties include, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, key strategic alliances with vendors that resell LanVision products, the ability of the Company to control costs, availability of products procured from third party vendors, the healthcare regulatory environment, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new system, as well as maintenance of legacy systems, year 2000 compliance priorities, fluctuations in operating results and other risks detailed from time to time in the LanVision Systems, Inc. filings with the Securities and Exchange Commission.
SOURCE LanVision Systems, Inc. |
