Tech Update
• Olsten Corp. (Melville, NY) has licensed five PeopleSoft Human Resources software modules to improve its payroll system. The software will enable the company to streamline processes and meet reporting mandates. The company will also be able to automate processes previously done manually.
• Sabratek Corp. (Skokie, IL) has launched a smart epidural pain management pump. Medications that are infused into the epidural space are less concentrated than those administered intravenously. The new product includes a yes/no programming option with a bright yellow pump. With an extra safety level through hardware, software, and disposables, the pump can help minimize drug delivery errors.
• Simione Central Holdings (Atlanta) and Mestek (Westfield, MA) have agreed to merge Simione with MCS, a Mestek subsidiary. Simione will issue Mestek .85 shares for each share of its common stock. MCS had about $17 million in revenues in FY98. Simione’s board will expand to 10 members, and Mestek Senior Vice President R. Bruce Dewey will become co-CEO. The transaction, which should close by the end of fall, is subject to shareholder approvals.
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