Dynamic Healthcare Technologies' Agreement With Sunquest Information Systems Validates Dynamic's Copath Client/server As The De Facto Standard For Anatomic Pathology
MAITLAND, Fla.--(BW HealthWire)--Feb. 24, 1997--Dynamic Healthcare Technologies, Inc. (NASDAQ:DHTI) today announced the signing of a value added re-marketer agreement with Sunquest Information Systems,Inc (NASDAQ: SUNQ) of Tucson, AZ. The initial licensing fee, which allows Sunquest to sub-license the product to their existing customers, is $3,000,000.
Under the terms of the agreement, Sunquest will exclusively market and sub-license Dynamic's CoPath(R) Client/Server (CoPath C/S) anatomic pathology (A/P) solution to their large existing base of clients. Sunquest will also sell CoPath C/S, when bundled with their laboratory information system, in the general U.S. healthcare market, and on a stand alone product basis in the international market. Dynamic will continue to sell CoPath C/S within their own customer base and to new customers, and will begin migrating existing CoPath-M customers to their client/server product.
The initial licensing fee will be realized during the first quarter ending March 31, 1997. New Sunquest customers licensing CoPath will be subject to an additional license fee. There also will be ongoing annual maintenance and monthly consulting fees for all services rendered under this agreement.
CoPath is an established best-of-breed solution that handles the requirements of surgical pathology, cytology, and autopsy, and includes automatic SNOMED coding and powerful reporting capabilities. It is installed or under contract to more than 250 teaching and community hospitals, multi-hospital networks and reference laboratories in the U.S. and Canada, including Memorial Sloan-Kettering Cancer Center, University of Pittsburgh Medical Center, Massachusetts General Hospital, and the California network of Kaiser Permanente hospitals.
Mitchel J. Laskey, president and chief executive officer, commented, "We're excited about Sunquest's selection of CoPath as the A/P standard for their clinical solution set. It will be a privilege to work with Dr. Sidney Goldblatt and his team. The additional distribution channel from a leading clinical information systems vendor like Sunquest supports CoPath's position as the leading solution domestically and opens opportunities to the international marketplace."
Dr. Goldblatt, Chief Executive Officer of Sunquest said, "We look forward to a mutually beneficial relationship with the good people of Dynamic. Our open architecture systems enable us to imbed this best-of-breed A/P solution into our clinical products. It's a wish come true for our clients."
Sunquest Information Systems, Inc., a leader in laboratory healthcare automation since 1979, now focuses on the design, development, sales and support of the most comprehensive clinical information systems, from departmental to enterprise-wide information repositories. With more than 950 sites worldwide, Sunquest systems include software for the laboratory, radiology, managed care, systems integration and the CPR (computerized patient record). Headquartered in Tucson, Arizona, the company operates from offices in Johnstown, Pennsylvania; Salt Lake City, Utah; Plano, Texas; Winnipeg, Canada and the United Kingdom.
Dynamic Healthcare Technologies, Inc. develops, markets and supports enterprise-wide information solutions that enable the efficient capture, storage, archival and retrieval of electronic health information and the world-wide sharing of this information across the continuum of care.
Headquartered in Maitland, Florida, the Company maintains a Radiology Technology Center in Minnetonka, Minnesota and a Clinical Solutions Center in Waltham Massachusetts.
CoPath is a registered trademark of Dynamic Healthcare Technologies, Inc.
CONTACT: Media Contact:
Mary Lu Lander
Vice President, Marketing
mlander@dht.com
or
Investor Contact:
Mitchel J. Laskey
President and Chief Executive Officer
mlaskey@dht.com
1-800-832-3020
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