added more MEHO to my long position:
I love this PR. :)
Wednesday July 19, 6:00 am Eastern Time
Company Press Release
SOURCE: Meridian Holdings, Inc.
Meridian Holdings, Inc. Completes Asset Purchase
LOS ANGELES, July 19 /PRNewswire/ -- Anthony C. Dike, Chairman and CEO of Meridian Holdings, Inc. (OTC Bulletin Board: MEHO - news), announced today that the company has
completed a purchase from Triad Microsystems, Inc. (Falls Church, Va.; ``Triad''), a privately held corporation, of all of the intellectual property rights (assets) associated with Triad's ``MedLinQ'' application service provider (ASP) solution for health care management. Bartola J. (John) Pacetti, Triad's chairman, president and chief executive officer, has been named executive vice president of business development and sales and chief operating officer of Meridian subsidiary CGI Communications, a specialized Internet and intranet services provider to the healthcare industry.
Additional terms of the transaction were not disclosed.
Triad specializes in the development of health care informatics in medical networks and the delivery of medical content that is compliant with federal regulations, and clinical and medical requirements. It has a key position as prime contractor in contract management, software and technology.
Triad/MedLinQ holds the intellectual rights to the architectural concept, the advancement in medical record verification, VPN (virtual private network) implementation using the Frames technology, encryption and the application of image miniaturization technology. Several of its technologies and hardware components are targeted for FDA approval for use in diagnostic and clinical applications,
in addition to medical record processing.
MedLinQ is designed to enable the transference of medical documents or content on a global basis using the existing infrastructure, including multimedia and satellite transmission, on a non-intrusive basis. Over 50 hospitals, including George Washington, Maryland Shock Trauma and the University Hospital System, are currently deploying the system. Additionally MedLinQ is in ``beta'' testing with
the U.S. Department of Defense and has contracts for telemedicine and tele-health with Denver General Hospital. Strategic alliances with a number of major commercial and government contractors, including Litton, TRW, IBM, Cisco Systems, SAIC and Siemens, to name a few, utilize the MedLinQ ASP.
``The MedLinQ acquisition is an excellent addition to the Meridian portfolio, and we are confident that this technology, and the talent of John Pacetti, will assist us in achieving a sizable market presence,'' said Dike.
About Meridian Holdings, Inc.
Meridian Holdings, Inc. is an acquisition-oriented business enterprise focused on building, operating and managing a portfolio of business-to-business companies. Meridian seeks to acquire majority or controlling interests in companies engaged in e-commerce, e-communication, and e-business
services, which will allow the holding company to actively participate in management, operations and finances. Meridian's network of affiliated companies is designed to encourage maximum leverage of information technology, operational excellence, industry expertise and synergistic business opportunity. Meridian is committed to building shareholder value by positioning affiliated companies
as independent business entities in which Meridian shareholders enjoy equity participation. Visit
Meridian's web site at www.meho.com.
NOTE: Statements in this news release that are not purely historical are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and any amendments thereto. Material that is forward-looking may
contain statements about expected future events and/or financial results that are forward-looking in
nature. Editors and investors are cautioned that such forward-looking statements invoke risk and
uncertainties that may cause the company's results to differ from such forward-looking statements.
These include, but are not limited to, economic, competitive, governmental, technological and other
factors discussed in the statements and/or in the company's filings with the Securities and Exchange
Commission.
SOURCE: Meridian Holdings, Inc. |
