NEWS-(PR NEWSWIRE) CitX Founders Spin-off IntraMedX Corporation, to Focus on Pr
CitX Founders Spin-off IntraMedX Corporation, to Focus on Providing
Internet-based Services, Portals, and e-Commerce Solutions to Physicians,
Hospitals, Managed Care and Other Healthcare Entities
QUAKERTOWN, Pa., May 5 /PRNewswire/ -- CitX Corporation of Quakertown,
Pa., today announced that it has formed a new independent subsidiary called
IntraMedX Corporation, to more effectively target the healthcare market
segment. IntraMedX will take over all development, marketing, and management
functions for the Internet-based Practice Management System, online
subscription-based medical e-commerce services, and related vertical B2B
Portal services, from CitX.
CitX Corporation will have 10% equity ownership in IntraMedX, and is being
privately funded by its founders and selected venture partners. Bernie
Roemmele, CEO/Chairmen and founder of CitX Corporation, will become CEO and
Chairmen of IntraMedx Corporation, appoint a new Board of Directors, and hire
seasoned executive, level management team. The new company's corporate
offices will be based in Pennsylvania, with sales offices to be opened in
Florida, Texas, and California, within the next 12 months.
"For the past two years, CitX has been profitable and growing near 100%
per quarter, delivering cost-effective Internet-based e-Commerce and Web-
hosted vertical software solutions to the Healthcare market," said Bernie
Roemmele, CEO of CitX Corporation. "We are now ready to launch into our
national marketing plan to effectively become the technology and market leader
in the deployment of Internet-based integrated e-Business solutions for the
Healthcare market.
The formation of IntraMedX will give us the ability to focus and rapidly
execute on our business objectives, and be an effective provider of Y2K and
HIPAA compliant Practice Management and e-Business solutions for the
Healthcare community".
IntraMedX customers primarily include Traditional and Alternative Medicine
Practitioners, Hospitals, Managed-Care, Insurance and Pharmaceutical
companies, Nursing Homes, and Assisted-Living facilities. The company markets
its services through VAR's, System Integrators, Strategic Alliance partners,
and its internal direct sales force. Revenue is derived primarily from the
delivery of Internet-based transactional fee-for-use online e-Commerce
services, and Network-Centric subscription-based vertical software solutions,
such as the IntraMedX Web-based Practice Management system.
CitX and its technology partners have extended exclusive licenses to
IntraMedX Corporation for specific e-Commerce, vertical Portals, and Web-
delivered software application technology. In addition, all e-Commerce
services, such as the collection of medical receivables, will be provided
exclusively by CitX and its Intrapay electronic payment collection system.
CitX has proven the success and profitability of this business model
for the past 3 years. Senior management believes that their experience in
delivering Network-Centric subscription and transactional based services, via
the Internet, will enable IntraMedX to quickly scale its operations to meet
the needs of the small practitioner, or the large multi-national enterprise.
About CitX
CitX Corporation is a privately held, leading high-tech company that
primarily develops and markets B2B (business-to-business) Electronic Commerce
solutions, Community-Centric Portals, and Network-Centric (Web-Hosted)
software applications, delivered securely across the Internet and private
heterogeneous networks.
Most of CitX's products and services are provided on a fee-for-use basis
and are available through its many strategic partners, system integrators,
independent representatives, and direct online users. CitX's management team
has more than 8 years experience in providing Web-Hosted software
applications, Electronic Commerce solutions, and Community-Centric Portals for
Medical Societies, Hospitals, Physicians, and others in the Healthcare sector.
CitX has developed a specialized medical Community-Centric Portal and
Extranet called HCSIN.NET that currently services more than 50,000 healthcare
professionals throughout the United States. CitX has formed strategic
partnerships with Redix, NCR Corp., Priority One ECC, Bell Atlantic,
Alternative Link, Zonics, and others to effectively deploy secure Internet-
based, Business-to-Business Electronic Commerce, Community-Centric Portals,
and Web-hosted software applications, for small businesses as well as the
corporate enterprise.
Primary markets serviced are B2B, Healthcare, Insurance, Banking, Legal,
Retail, Organizations, and the Government.
Recently, CitX Corporation had entered into a merger agreement with CBQ
Inc., publicly traded as (OTC Bulletin Board: CBQI), of Dallas, TX, to build a
world-class B2B E-Commerce company. Merger to be completed the next few days.
For more information, contact CitX Corporation at 215-538-3535, by
email at bernie@citx.net, or visit the CitX Web Site at citx.net.
SOURCE CitX Corporation
-0- 05/05/99
/CONTACT: Bernie Roemmele, CEO and Chairman, 215-538-3535, or
Bernie@citx.net, or Brian Roemmele, VP of Marketing, 215-538-3535, or
brian@citx.net, or Richard Schwartz, National Sales Director, 215-538-3535, or
richards@team.citx.net, all of CitX/
/Web site: citx.net
(CBQI)
CO: CitX Corporation; IntraMedX Corporation; CBQ Inc.
ST: Pennsylvania, Texas
IN: HEA CPR
SU:
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