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Is anyone following this company, Maesa Gaming ? Here is a recent press release: Maesa Gaming Management, Inc. Completes Agreement with MONITRx, Inc. LARKSPUR, Calif., Dec. 17 /PRNewswire/ -- Maesa Gaming Management, Inc. (MGMT) (OTC BULLETIN BOARD: MGMT) and MONITRx, Inc. announce that they have reached an accord regarding the terms of a Novation Agreement which restructures and clarifies arrangements made between the firms earlier this year. By the terms of the agreement, Maesa will convert an earlier investment in MONITRx to a preferred equity position equal to 21.25% of the total equity in MONITRx. Under the terms of the agreement, Maesa may make a further investment that will yield an additional 21.25% position in MONITRx. Maesa is also granted certain options that, if exercised completely, will result in a total equity position of 47.5% The Novation Agreement also grants Maesa the right to participate significantly in the management of the company through appointments to the Board of Directors. MONITRx is in the final stages of testing "The CADI System," an aggregate technology developed specifically for the Home Healthcare market. The CADI System utilizes advanced client/server and intranet technologies to fully automate the process of defining, administering, managing, and documenting home healthcare operations. MONITRx has developed a marketing model which allows its customers to implement the turnkey system and pay for its use via a simple fee-per-patient-visit model. Home health care currently represents the fastest growing segment of the health care marketplace. The U.S. Government's Health Care Financing Administration currently forecasts that the Medicare financed market will yield approximately 279 million patient visits in 1996 alone. It is estimated that an additional 120 million patient visits will be performed by non- Medicare financed activities. Furthermore, the market is expected to grow at approximately 22% annually through 2000. MONITRx is currently scheduled to release final beta test versions of The CADI System in early January to customer sites in California and Texas. General release of the product is currently scheduled for February 1997. MONITRx's current business plan targets sales of over 2,000 field based devices to 72 branch locations nationwide generating revenues of $4.04 million in 1997. The firm also expects aggressive growth in 1998 with over 4,500 field based devices operating through 160 branch locations generating annual revenues of $16.9 million. For more information regarding "The CADI System," please visit the MONITRx, Inc. Web site at monitrx.com or contact Cheri Lee at 415-925-8800. For more information regarding Maesa Gaming Management, Inc., please contact: Financial Internet Group, 619-770-7133, or toll-free, 888-770-7133. SOURCE Maesa Gaming Management, Inc. | ||||||||||||||
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