JACKSONVILLE BEACH, Fla.--(BUSINESS WIRE)--Oct. 8, 1999-- Donaldson, Lufkin & Jenrette to Perform Analysis on
Untapped New Market
e-MedSoft.com (OTC:MDTK) today announced that it has entered into a memorandum of understanding with privately held
CypherSoft Inc.
regarding the prospective implementation, on an exclusive basis, of the only multi-patented contemporary communications
security technology
to manage the highly sensitive and private patient-based information throughout the health care Internet industry. This
technology provides
extensive additional security beyond what is now used in the Internet and encryption industries.
CypherSoft Inc. currently has exclusive access to the patented security technology, which has the unique ability to assure
secure
transmission of data without the limitations brought about through the industry's use of specific cryptographic implementations.
The CypherSoft
solution is a tremendous breakthrough in that it provides the possibility for real-time connections of technologies with
applications to high value
informational stockpiles with extended life-cycle requirements. Based upon the company's new investment banking contract
with Donaldson,
Lufkin & Jenrette Securities Corporation ("DLJ"), the company and DLJ will jointly perform a market analysis of the roll out of
these patented
and potentially revolutionary technologies.
As the company announced earlier this week, DLJ has entered into an investment banking contract with the company to assist
the company
during the next critical phase of implementation and growth that is an outgrowth of the company's roll out of several, existing,
large contracts
as well as several strategic acquisitions and alliances currently under advisement. The matriculation into the company of these
technologies is
important if the company's solutions are to be accepted on an industry-wide basis.
John F. Andrews, the company's President and Chief Executive Officer, remarked that, "this is a key development for the
future of this industry,
in view of the uniform market focus on total, as opposed to partial, security for patient records and related information.
Because of the vast
market potential of this important product, we felt it imperative to evaluate - with the assistance of DLJ - whether the market
size and scope of
the project merits this product being separately licensed or spun off for industry-wide-use not only by health care delivery
companies (e.g.,
hospitals) but even by the competitors of e-MedSoft.com. There appears to be no other technologies that can provide a total,
arguably
'bullet-proof,' security solution. Accordingly, it may be appropriate to support a roll out approach separate from our company's
core business,
and it makes sense for DLJ to evaluate these issues before we begin market penetration of the product."
About e-MedSoft.com:
e-MedSoft.com with its core medical software product, being sold under the trade name e-MedSoft.com, is leading a
transition in the medical
industry, as it is the first subscription-based healthcare management system available for delivery through the Internet. Users
of the software
are charged a small up front installation fee, and an ongoing subscription fee based on transaction volume. The medical
software is a complete
healthcare management system.
Through the Internet, its Java-based integrator, utilizing Sun Microsystems Inc.'s (NASDAQ:SUNW) Java technology, allows
the
e-MedSoft.com software to communicate across diverse platforms and languages in unlimited capacity, allowing for the inter
link of doctors,
hospitals, clinics, HMO's, insurance companies, financiers and government agencies.
The ease and low cost with which it can be implemented, its Internet connectivity, and its ability to allow for the exchange of
information across
diverse platforms and systems bode well for its widespread adoption by the medical community.
Additionally, through e-MedSoft.com's well-established and highly respected subsidiary - the e-Net Technology group of
companies - it is
possible for e-MedSoft.com to assure expansion of its technologies to industries and geographies beyond health care. This,
in turn, assures
maximum penetration into the health care industry in view of the intricate connection of health care into every industry.
For more information, see mdtk.com and www.enetgroup.co.uk.
About e-Net Software Ltd.:
e-Net Software provides leading edge, competitive, Web-based solutions designed and implemented to drive a clients'
Internet business to
success. e-Net Software's products are built on the foundations of speed, ease of use, security, scalability and resilience, and
are continually
advancing to ensure current and future business needs are met. e-Net Software is a subsidiary of the e-Net Technology group
of companies,
which also includes e-Net Systems Ltd. (formerly Relay Business Systems Ltd.) and IFA Systems Ltd. All of these companies
are owned by
e-MedSoft.com.
The e-Net group removes the complexity of Web-enabling key business processes with a complete range of Internet Managed
Services and
Information Technology solutions, and by utilizing strategic partners Sun Microsystems, Oracle Corporation and Cisco
Systems Ltd. More
information on the e-Net Technology group of companies can be viewed at www.enetgroup.co.uk.
Statements in this news release that relate to management's expectations or beliefs concerning future plans, expectations,
events and
performance are "forward-looking" within the meaning of the federal securities laws. Actual results or events could differ
materially from those
anticipated in the forward-looking statements due to a variety of factors, including, without limitation, acceptance by customers
of the
company's products, changing technology, competition in the healthcare market, government regulation of healthcare, the
company's limited
operating history, general economic conditions, and availability of capital. |
