I think Rocap is important and it pending certification is a plus but I am much more interested in its Internet/E-commerce business. The Sabratek system allows patient vital sign monitoring, equipment status, allow doctors access to Pharmacy and Lab databases, provide for payor (insurance co.) {allowing real time oversight of drugs, lab results, diagnosis}, and connect the service provider all together. This will allow real time patient reviews by a doctor or a group of doctors, provide for a cost effective oversight by insurance companies etc etc etc. In short it does what the Healtheon system can do plus more. The amazing thing is that Sabratek has been developing this system for the last 3 years and nobody has known anything about it.
The reason they have the leg up is because they have the distribution that Healtheon lacks. I believe it is safe to say that this at least in my always humble opinion could be a major home run.
~~~~~
~~~~~
Sabratek Corporation (Nasdaq: SBTK) today announced that it has entered into a revised agreement to acquire Unitron Medical Communications Inc. d.b.a. Moon Communications Inc. (MOON) for a fixed purchase price of $14.8 million, subject to certain possible adjustments. The agreement provides for a call option to acquire either MOON capital stock or assets that may be exercised by Sabratek at any time prior to July 15, 1999. The revised agreement also provides for a put option, which may be exercised by the MOON shareholders if Sabratek does not exercise its call option. This revised agreement accelerates the time of the possible acquisition of MOON from the middle of the year 2000. The purchase price can be paid in cash, stock or a combination of cash and stock at the discretion of Sabratek, subject to certain limitations. The new agreement is subject to a number of closing and other conditions, and the previous acquisition agreement which MOON and Sabratek entered into in July 1997 will remain in place until among other things the requisite MOON shareholders enter into this revised agreement.
K. Shan Padda, the CEO of Sabratek commented, "This revised agreement with MOON is an important step in laying the groundwork to accelerate successfully bringing MOON into the Sabratek family of companies and to advancing the virtual hospital room strategy of Sabratek."
MOON develops the Medical Oriented Operating Network that allows for continuous on-line, real-time monitoring, tracking, recording and reporting of clinical patient information from any point of care, including the patient's home. The capability allows for physicians, hospitals and third-party payers to receive patient updates on a 24-hour, seven day a week basis.
~~~~~~~~
"We met our internal forecast for the first quarter of 1999, and believe the fundamentals of Sabratek remain consistent and strong. During the first quarter of 1999, we continued to gain momentum in our planned focus on providing advance technology based products and services to our customers: examples include the recently announced USA/MCO contract and our impending acquisitions of LifeWatch and SRS. With the addition of John Reilly, a medical technology veteran, to our management team, we believe that we are well positioned to pursue our strategy of broadening our offering of medical software-based monitoring systems and the related information management products focus of our business," concluded Padda.
Sabratek Corporation is a medical information technology and products company, developing, producing and marketing technologically advanced, user friendly, interactive therapeutic and diagnostic medical systems designed specifically to meet the needs of the healthcare market. The Company's multi-therapy infusion and other systems reduce operating costs while improving the delivery and quality of care, allowing high-acuity patients to be treated in various healthcare settings. Sabratek's proprietary MediVIEW® healthcare information system provides real-time, remote programming as well as real-time diagnostic and therapeutic data capture capabilities, allowing caregivers to monitor patient compliance effectively and providers to develop outcome analyses and optimal clinical protocols. Sabratek's PumpMaster facilitates mandatory equipment diagnostics without the costly retrieval of pumps for testing in centralized laboratories. The Company has designed its integrated hardware and software to permit providers to achieve cost-effective movement of patients along the continuum of healthcare settings. |
