HEAL NEWS!
Tuesday March 9, 5:23 pm Eastern Time
Company Press Release
SOURCE: HealthWatch, Inc.
HealthWatch, Inc. Announces The Successful
Deployment Of Its Initial E-Commerce Business
Information Product; Additional Stock Accumulated
By Insiders
ATLANTA, March 9 /PRNewswire/ -- HealthWatch, Inc. d/b/a MERAD Technologies Corporation (Nasdaq: HEAL -
news), an Atlanta-based Internet Business Software and Services Company, announced today that its Internet based MERAD
Technology has been successfully deployed in the healthcare industry. The healthcare industry comprises about 15% of the
U.S. economy. The Company through its affiliate HALIS, Inc. (OTC Bulletin Board: HLIS - news), is leading the way in
delivering E-Commerce mission-critical healthcare software and information content through its Internet driven Health Care
Enterprise System -- HES. The Company also announced that since January 1999, Paul W. Harrison, its Chair of the Board,
President, and CEO has purchased 218,199 shares of the Company's common stock (and now controls directly or indirectly
321,032 shares of common or approximately 10% of the common shares outstanding), and Brian L. Schleicher, its Chief
Financial Officer, Chief Administrative Officer and General Counsel has purchased 110,463 shares.
Acknowledging the recent interest in the Company by investors spurred on by comments made by Daniel Miller on his
well-followed web-site, Paul W. Harrison said, ''Although we have had no communication with Mr. Miller, I would like to
extend to him our appreciation for igniting new interest in our company. Once investors truly understand the power of the
Company's MERAD technology I am confident they will realize that this interest was well founded. We believe that the more
than 80 classified industries will move to E-Commerce to perform simple and complex transactions on a daily basis using new
and rapidly improving information technology. With over 10 million businesses in the U.S., and new forming every day, an
increasing number will want to use the Company's low cost, integrated E-Commerce software and information products to
improve their quality of information processing and communication. My recent purchases of common stock shows my belief in
what we have created.''
The MERAD technology is considered superior because the logic instructions for processing information have been effectively
digitized and stored as integrated database content rather than as repetitive computer language code. The MERAD technology
can process its digitized information content for business using the Internet (including Intranet, Extranet subsets), as easy as an
electronic receiver can process digitized movies, music, and books today. The MERAD technology used to build and distribute
the HALIS HES software can manufacture new content and information products significantly faster and at less cost than with
conventional programming means. New business and specialty content can be added on a regular basis as easy as a cable or
satellite system can add new content channels to be received by consumers. With its general business content almost complete,
the Company plans to expand its products and services to other industries.
The Company's affiliate HALIS has made substantial financial progress. Approximately $36 million has been invested into the
design, development, packaging, market testing, as well as in its formation of sales channels and support structures for the HES
health care technology series. HES performs over 100 functions (i.e. Medical Accounts Receivable is one function) throughout
a health care enterprise and is now commercially available. During the fourth quarter of 1998, HALIS expects to report a
positive Earnings Before Interest, Taxes, Depreciation, and Amortization -- EBITDA from operations of approximately
$150,000 and a positive net income of approximately $900,000 (subject to completion of the audit and year-end adjustments
that may result therefrom). The Company owns approximately 22% of HALIS and also receives a royalty of 10% on all gross
revenues associated with HALIS' products and services that utilize its MERAD technology. The Company, through a business
collaboration agreement with HALIS, has started marketing the HALIS HES series into its customer base of approximately
1000 health care organizations.
Except for the historical information contained herein, this press release contains forward-looking statements, including
statements containing the words, ''believes,'' ''anticipates,'' ''expects''' and similar words. Such forward- looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company, or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward- looking statements. Such factors include, among others: the Company's
past operating history and variability of operating results; economic conditions, market acceptance of the Company's software;
the competition in the Internet commerce market; and other risk factors referenced in the Company's public filings with the
Securities and Exchange Commission.
For information about the Company, contact Ms. Marilyn May, Manager of Investor Relations at 9040 Roswell Road, Suite
470, Atlanta, GA 30350, 770-641-5550. An investment report on the Company prepared by Attkisson, Carter & Akers can
be obtained from Mr. Edward Pope at (404) 364-2049. Information about HALIS can be found at www.halis.com. |
