Acquisitions & Agreements
February 19, 1999
Acquisitions & Agreements
• Belgium-based CEDITI and Sequoia Software (Columbia, MD) have formed a strategic marketing and development agreement enabling CEDITI to resell and create new product packages with Sequoia Interchange2000 (i2K) or to use it in integration projects. i2K is an application framework for acquiring, managing, and presenting tailored, audience-specific information generated by disparate applications. CEDITI will be a direct distribution channel for i2K for Belgium, providing training, technical support, marketing and sales.
• The Codman Research Group (Andover, MA) has completed its merger with CareMonitor (Northbrook, IL). The CareMonitor web-based software allows healthcare providers to manage, monitor, educate, and communicate with consumers in their homes. Codman’s software is used to quantify various from benchmarks in provider cost and utilization and to find opportunities for improvement.
• Computer Task Group (CTG; Buffalo, NY) has signed a definitive agreement to acquire the stock of Elumen Solutions (Cincinnati). The transaction was valued at $89 million, with most of that in cash. Elumen is a healthcare information technology consulting company with revenues of approximately $36 million, and employing 220 consultants. Elumen President and CEO Christopher J. Bergmann will become vice president of CTG.
• FHC Health Systems (Norfolk, VA) has acquired controlling interest in STA)STAT, a division of American Medical Services (also Norfolk). STA)STAT is an emergency medical information service that provides instant data to medical personnel via telephone, fax, and the Internet. FHC, which works in social and behavioral health services, will initially market the product through its ValueOptions business unit.
• Incyte Pharmaceuticals (Palo Alto, CA) has expanded and extended its genomic partnership with Johnson & Johnson Medical (J&J; Arlington, TX). J&J will receive access to multiple Incyte databases in exchange for annual access fees. The databases include the LifeSeq Gold assembled database, the LifeSeq Atlas mapping database, and the ZooSeq animal gene sequence and expression database.
• InfoCure (Atlanta) has acquired and will merge with Medical Software Management (MSM; Macon, GA), developer of the Kiron practice management system for dermatologists. InfoCure issued 83,232 shares of common stock, with the merger to be accounted for as a pooling of interests. MSM adds approximately 500 dermatologists to InfoCure’s existing customer base. InfoCure’s practice management software products and services target healthcare practice specialties, including anesthesiology, dentistry, oral and maxillofacial surgery, orthodontics, podiatry and radiology, as well as larger general medical practices.
• Knowledge Express Data Systems (King of Prussia, PA) has reached agreements with Contact Canada (Georgetown, Ontario) and PharmaVentures to make data from their databases available to Knowledge Express clients. Contact Canada has data on Canada’s biotech and life science industries, and PharmaVentures supplies information about European drug and biotech companies, and new products seeking investors.
• The managed care firm Med Cap Resources (Rich mond, VA) has signed an agreement which will allow the physician clients of Pipeline Medical Technologies (King of Prussia, PA) to use Med Cap’s on-line, web-based information retrieval and interactive physician reporting service. PipeLine develops and markets healthcare software solutions. A practice management solutions provider, Med Cap offers services which include on-line analytical processing and ad hoc querying tools.
• Medicheck Services (Los Angeles) and the SSI Group (Mobile, AL) have formed an alliance to combine the former’s electronic data interchange capabilities with the latter’s experience in desktop business management systems. The goal is for Medicheck to use the SSI Renaissance Eligibility Verification system to provide a financial/admitting suite of products.
• Merge Technologies (Milwaukee) has renewed its distribution agreement with Fuji Medical Systems U.S.A. (Stamford, CT). The agreement allows Fuji to offer Merge Technologies’ medical imaging networking solutions at Fuji’s sales and service locations.
• National Eldercare Services (Bethesda, MD) and SOS Wireless Communications (Irvine, CA) have joined forces to create a prevention-oriented eldercare benefit in the state of Maryland. The device is a three-button emergency use cellular phone that allows the elderly single-button access to caregivers and emergency services. It is battery operated, hearing aid compatible, and operates in conjunction with a 24-hour, operator-staffed call center.
• Oceania (Redwood City, CA) and A.D.A.M. Internet Health (Atlanta) has struck an agreement under which A.D.A.M. will supply its Visual Components SDR product for inclusion in Oceania’s electronic medical record products. The companies said the result is that physicians will gain a faster and more intuitive way to use the EMR products by providing a user interface based on the human body.
• SmithKline Beecham Clinical Laboratories (SBCL; Collegeville, PA) and Healtheon (Santa Clara, CA) have signed a five-year services agreement extending the scope of their collaboration to automate and expand the exchange of medical information between clinical laboratories and physician offices. Healtheon will manage the electronic delivery of laboratory test results via a national network currently comprised of teleprinters. A significant segment of SBCL’s provider base is included in this network. Healtheon is now serving more than 100,000 physician providers. In January Healtheon began managing electronic order entry and results delivery services to SBCL’s high-volume-provider clients. The agreement also included cooperation to develop Healtheon Dx, a new browser-based laboratory connectivity solution.
• Soma.com (Seattle), an Internet-based pharmacy, and McKessonHBOC (San Francisco) have signed an exclusive agreement under which McKessonHBOC will be the sole-source distribution of pharmaceutical products to Soma.com. Soma.com launched Jan. 15 and dispenses prescription medications, over the counter drugs, vitamins, and healthcare and beauty products. In addition to the distribution agreement, McKessonHBOC has installed automated prescription fulfillment technology in Soma.com’s centralized pharmacy.
• Telefficiency Holding (Mississauga, Ontario) has issued a letter of intent to acquire Smiston Comm unications (Chatham, Ontario). The acquisition will give Telefficiency 1,500 additional customers. The purchase is expected to generate $1.5 million (CAN) in revenues with earnings of $200,000 for the 1999-2000 fiscal year. The acquisition price was stated at $550,000 U.S., to be paid in cash and restricted shares.
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