Tech Update
Tech Update
• Simione Central Holdings (Atlanta) has acquired Tropical Software Services, a home medical equipment management system, for $1.8 million in cash and 100,000 shares of Simione Central stock. The product will provide all functions for managing a home medical business, including retail and rental sales, scheduling, accounts receivable, accounts payable, claims processing, and inventory control. Simione reported $41.6 million in revenues in FY98 ended Dec. 31, an 11.3% decrease from FY97 revenues of $46.9 million. The company saw a net loss for the year of $12.2 million, $1.42 per share, compared with a net loss in the previous year of $4.5 million, 63 cents per share. The FY98 results include one-time restructuring costs due to the termination of the Columbia/HCA (Nashville, TN) contracts and the elimination of certain legacy development projects. In 4Q98, the company saw a net loss of $2 million, 23 cents per share, compared with a net loss in 4Q97 of $7 million, 83 cents per share. Revenues for the 4Q were $5.2 million, a 57.4% decrease from the previous year’s 4Q revenues of $12.2 million.
• CareFacts Information Systems (St. Paul, MN) has signed contracts with Chippewa County Health Department (Sault St. Marie, MI), and LMAS District Health Department (Newberry, MI) to provide its software solutions for home care and public health. Chippewa will implement the companies clinical software at their public health agency, and LMAS will implement it for the home health services.
• MedicaLogic (Hillsboro, OR) has signed a strategic marketing agreement with 3M Health Information Systems (Salt Lake City) to integrate Logician, MedicaLogic’s ambulatory electronic medical record solution, with 3M Care Innovation software, a suite of care management products that forms a comprehensive computer-based patient record system. Under the agreement, MedicaLogic and 3M will coordinate delivery of an integrated clinical information system to healthcare enterprises seeking best of class solutions to meet their clinicians’ needs.
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