More Good news out!
January 15, 1999 07:43
HIE Divests Integration Services Group to Superior Consultant Holdings Corporation
MARIETTA, Ga., Jan. 15 /PRNewswire/ -- Healthdyne Information Enterprises, Inc (Nasdaq: HDIE), a leading enterprise application integration software tools and services provider, today announced that on December 31, 1998 Superior Consultant Holdings Corporation (Nasdaq: SUPC) and its wholly owned subsidiary, Superior Consultant Company, Inc. acquired HIE's Integration Services Group. While a part of HIE, the Integration Service Group (ISG) offered healthcare-related integration consulting services, which is unrelated to HIE's present core business of message brokering. The asset purchase is comprised entirely of cash and is valued at $2.2 million.
The Integration Services Group has served several large integrated delivery networks such as Promina Health Systems, Atlanta, Georgia and BJC Health Systems, St. Louis, Missouri. HIE will continue marketing, licensing, implementing and servicing its proprietary integration tools -- Cloverleaf(R), OM3(TM) and EMerge(TM) -- within healthcare and other industries.
The staff of ISG will join Superior, bringing more than 20 experienced professionals who possess broad experience in healthcare management, information systems, and operations. Under the terms of the agreement, Superior will be granted rights to incorporate HIE's Criterion(TM) Tool Suite into its data warehousing portfolio of solutions. Criterion Tool Suite is an enabling technology that allows healthcare enterprises to build and deploy a data warehouse incrementally. These tools include a healthcare-specific data model that can be built and modified over time to meet each organization's unique information consolidation and deployment needs.
Robert Murrie, president and CEO of Healthdyne Information Enterprises, comments: "The sale of ISG strengthens HIE's focus on our core business, enterprise application integration (EAI) tools and services. Furthermore, we expect no adverse affect on fourth quarter earnings, and anticipate utilizing the proceeds to finance our fast growing message brokering business. The Company will continue to expand into other vertical markets, such as banking, finance and other commercial segments. At the same time, HIE will maintain a strong relationship with Superior Consultant and will utilize their healthcare consulting practice for our strong and continuing healthcare business. This transaction is beneficial to both HIE and Superior."
Richard Helppie, chairman, president and CEO of Superior Consultant Holdings Corporation, comments: "Superior is pleased to welcome the employees of ISG, and we look forward to a growing relationship with HIE. This transaction caps a successful year for Superior. In calendar year 1998, key external accomplishments included seven acquisitions, several large Capitated Consulting outsourcing contracts, and a strategic relationship with Empower Health Corporation."
Deborah Davis, president of Superior's Information Technology Strategy and Implementation Division, states: "Data Warehousing has been identified as a key priority by healthcare executives across the country. The acquisition of ISG allows Superior to expand our breadth of services and resources in this market. This transaction also provides Superior with an opportunity to deliver implementation support to HIE in the areas of data warehousing and enterprise- wide master person indexing.
Jim Oakes, Senior Vice President of the Integration Services Group, comments: "ISG is excited about becoming part of Superior. Superior's size and scope will enable us to provide a broader array of services to our clients, and will provide enhanced professional opportunities for our staff. We look forward to a continuing close relationship with HIE."
About Superior Consultant Holdings Corporation
Superior Consultant Holdings Corporation is a national consulting firm comprising two subsidiaries: Superior Consultant Company, Inc. (established in 1984) offers a full array of strategic, managerial, operational and technical services to all segments of the healthcare industry; and Enterprise Consulting Group, Inc. (established in 1993), assists clients across a wide range of industries in the development, design, implementation and maintenance of groupware and intranet/Internet information systems and solutions. For more information on Superior Consultant Holdings Corporation, simply dial 1-800-PRO-INFO and enter the company ticker: SUPC (a no-cost fax-on-demand service) or visit the Company's website at www.superiorconsultant.com.
About HIE
HIE helps enterprises rapidly integrate their existing and new applications, using the Company's market leading software tools and strategic and tactical integration services. The Company's tools are used in more than 1,200 sites worldwide, including those in the healthcare, financial services and banking industries. HIE is headquartered in Marietta, Georgia, with offices in Dallas, Columbus, New York, London, England and Essen, Germany. For more information visit HIE's web site at hie.com.
This press release includes forward-looking statements in addition to historical information. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements; however, this press release also contains other forward-looking statements in addition to historical information. The Company cautions that there are various important factors that could cause actual results to differ materially from those indicated in the forward-looking statements; accordingly, there can be no assurance that such indicated results will be realized. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competitive pressures, the mix of software and service revenue, the mix of direct and indirect sales, sales timing, changes in pricing policies, undetected errors or bugs in the software, delays in the product development, lower-than-expected demand for the Company's software tools or services, business conditions in the healthcare and other complementary markets, the Company's ability to modify its software for use in non-healthcare industries, risks associated with possible acquisitions, general economic conditions and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 1997 and its Registration Statement on Form S-3 (Registration No. 333-55703). By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the Federal securities laws.
"HIE," "Cloverleaf," "EMerge," and "Criterion" are registered trademarks of Healthdyne Information Enterprises, Inc.
SOURCE Healthdyne Information Enterprises, Inc.
/CONTACT: Press: Sara Herrmann, Manager, Corporate Communications, of
HIE, 770-423-8572, or sara.herrmann@hie.com; or Investor Relations: Gordon
McCoun, Lauren Felice, or Press: Michael McMullan of Morgen-Walke Associates,
Inc., 212-850-5600, for HIE/
/Web site: morgen-walke.com
/Web site: superiorconsultant.com
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