e-MedSoft.com Signs $72 Million Contract With
Metropolitan Health Networks Inc.
Wednesday August 23, 5:33 pm Eastern Time
Press Release
JACKSONVILLE BEACH, Fla.--(BUSINESS WIRE)--Aug. 23, 2000-- e MedSoft.com (AMEX:MED - news), a leading application service provider (ASP) of comprehensive health-care portal solutions, today announced that it has been chosen by Metropolitan Health Networks Inc. (METCARE) (OTCBB:MDPA - news) to provide pharmacy and related services to METCARE's network of primary care physicians.
In total, the METCARE network encompasses 1,000 physicians serving more than 44,000 patients, including more than 30,000 senior lives. The contract is expected to generate an estimated $72 million in pharmacy services over the term of the three-year contract.
METCARE will use e-MedSoft's highly integrated, Internet based pharmacy management solutions to access a full spectrum of services that are designed to achieve cost-effective pharmacy management with quality outcomes.
e-MedSoft will provide to METCARE an integrated, turnkey system including pharmacy and formulary management, claims
auditing, drug utilization evaluation, physician office dispensing, and home delivery of prescriptions and other health-care products ordered via the Internet, all of which are designed to increase patient compliance and satisfaction.
Fred Sternberg, president and chief executive officer of METCARE, commented: ``e-MedSoft's integrated pharmacy services solution provides us with the leading-edge tools required to manage and improve the drug-delivery process throughout our growing network of physicians and patients.
``Encompassing pharmacy management, dispensing and audit services, among other applications, e-MedSoft's solution will enable us to efficiently and cost-effectively manage the drug-delivery process.''
Commenting on the contract, John F. Andrews, e-MedSoft.com chairman and chief executive officer, stated: ``We are excited to partner with METCARE, an innovator in the delivery of health care.
``Given the increasing focus on managing drug-related delivery costs, we continue to see strengthened demand for our pharmacy solutions, and our agreement with METCARE acknowledges the strength of these solutions in satisfying this growing market demand.
``Through our pharmacy solution, we have created a strong growth vehicle to help reduce the costs associated with drug delivery
while improving the quality of care. We believe this solution will significantly impact our top- and bottom-line results over the
months and years ahead.''
About METCARE
With headquarters in West Palm Beach, Fla., METCARE (OTCBB:MDPA - news) is a leading provider of health-care services in
Florida. The company is the fastest-growing health-care organization in the state and is currently running at approximately a $120
million annualized revenue run rate.
The company directly manages the lives of more than 44,000 patients, and indirectly has access to hundreds of thousands of
additional patients in Florida, providing an extensive network of affiliated physicians from Miami to Daytona Beach on Florida's
east coast.
METCARE is focused on providing a managed-care solution to physicians and managed-care organizations in a new health-care
delivery mode through Internet technology, solutions and e-commerce. For more information, visit www.metcare.com.
About e-MedSoft.com
e-MedSoft.com, a leading application service provider (ASP) of comprehensive health-care portal solutions, is leading a transition in
the medical industry, as it is the first subscription-based health- care management system available for delivery through the
Internet.
Through the Internet and its Java-based integrator which utilizes Sun Microsystems Inc.'s (Nasdaq:SUNW - news) Java technology,
e-MedSoft.com's software facilitates communication across diverse platforms and languages in unlimited capacity, allowing for the
interlink of doctors, hospitals, clinics, HMOs, insurance companies, financiers and government agencies.
The ease and low cost with which it can be implemented; its Internet-based ASP model, which reduces the need to build internal IT
infrastructures; 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.
e-MedSoft.com also operates the e-Net Technology group of companies. e-Net group focuses on removing the complexity of Web-
enabling business processes by providing a complete range of Internet Managed Services and Information Technology solutions,
and by utilizing strategic partners Sun Microsystems, Oracle Corp. and Cisco Systems Ltd.
e-MedSoft.com's products are built on the foundations of speed, ease of use, security, scalability and resilience. For more
information, see e-medsoft.com, www.enetgroup.co.uk and www.magnumfinancial.com.
Statements in this news release that relate to management's expectations, intentions or beliefs concerning future plans, expectations,
events and performance are ``forward-looking'' within the meaning of the federal securities laws. These forward-looking statements
include assumptions, beliefs and opinions relating to the company's business and growth strategy based upon management's
interpretation and analysis of its own contractual and legal rights, of management's ability to satisfy industry and consumer needs
with its technologies, of health-care industry trends, and of management's ability to successfully develop, implement, market and/or
sell its network transaction processing services, software programs, clinical and financial transaction services, and e-commerce
systems to its clientele. Management's forward-looking statements further assume that the company will be able to successfully
develop and execute on its strategic relationships. Many known and unknown risks, uncertainties and other factors, including
general economic conditions and risk factors detailed from time to time in news releases and the company's filings with the
Securities and Exchange Commission, may cause these forward-looking statements to be incorrect in whole or in part. The
company expressly disclaims any intent or obligation to update any forward-looking statements. Actual results or events could
differ materially from those anticipated in the forward-looking statements because of a variety of factors set out above, including,
without limitation, acceptance by customers of the company's products, changing technology, competition in the health-care
market, government regulation of health care, the company's limited operating history, general economic conditions, availability of
capital, and other factors.
Note to Editors: Java and 100% Pure Java are trademarks of Sun Microsystems Inc. in the United States and other countries. All
other trademarks, trade names, registered trademarks or registered trade names are the property of their respective holders.
Contact:
e-MedSoft.com, Jacksonville Beach
Beth Alpert, 904/543-1066 (media/investor contact)
balpert@e-medsoft.com
or
Magnum Financial Group LLC, Los Angeles
Michael Manahan, 213/488-0443 (investor relations)
mike@magnumfinancial.com
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