3Com Ventures Selects VIRTMED as Sole Handheld-Related Investment in Healthcare Market; 3Com and VIRTMED Partner To Bring Vital Patient Information to the Bedside.Business/Technology Editors and Health/Medical Writers CAMBRIDGE Cambridge, city, Canada Cambridge (kām`brĭj), city (1991 pop. 92,772), S Ont., Canada, on the Grand River, NW of Hamilton. It was formed in 1973 with the amalgamation of Galt, Hespeler, and Preston, all founded in the early 19th cent. , Mass.--(BUSINESS WIRE)--March 27, 2000 VIRTMED announced today that 3Com Ventures has selected the company as its sole handheld-related investment in the burgeoning healthcare market. VIRTMED is an information services See Information Systems. company focused on creating healthcare applications, both administrative and clinical, that offer compelling economic benefits. 3Com Ventures is 3Com Corporation's business development group that invests in emerging technology companies around the world. VIRTMED's healthcare information service integrates three domains -- handheld computing computing - computer , Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the technology and existing healthcare information services -- to provide healthcare professionals with easy-to-use and comprehensive solutions that improve the quality and efficiency of patient care. 3Com Ventures, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of 3Com Corporation, sees the investment in VIRTMED as an opportunity to facilitate the sharing of valuable information across multiple devices, including its Palm(TM) family of handheld computers A computing device that can be easily held in one hand while the other hand is used to operate it. The Palm devices are a popular example. See Palm, smartphone and palmtop. . "The mission of 3Com Ventures is to identify best-of-breed companies whose vision is in accord with 3Com's vision of connecting people with their information anytime, anywhere," said Janice Roberts, president of 3Com Ventures and senior vice president, Business Development, 3Com Corporation. "VIRTMED's philosophy of empowering mobile healthcare professionals with critical information at the patient bedside via handheld devices, coupled with their strong business model, made them a smart investment for 3Com Ventures." "We are very pleased with the 3Com investment as a vote of confidence in our team, our technology, and our vision," said Gary Foster, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of VIRTMED. About 3COM Ventures 3Com Ventures, Inc. is a wholly-owned subsidiary of 3Com Corporation that invests in emerging technology companies around the world. Most recently 3Com Ventures has invested in companies that specialize spe·cial·ize v. 1. To limit one's profession to a particular specialty or subject area for study, research, or treatment. 2. To adapt to a particular function or environment. in wireless technologies, handheld devices, home networking, converged networking The integration of the telephone system with IP-based data networks. See softswitch. (networking) converged network - A single network that can carry voice, video and data. and Internet-related technologies. For further information, visit 3Com's World Wide Web site at www.3com.com/ or the press site at www.3com.com/pressbox/. About VIRTMED Based in Cambridge, Mass., VIRTMED is an information services company whose mission is to leverage innovative Internet technologies to help solve healthcare problems. The company is focused on identifying healthcare applications, both administrative and clinical, that offer compelling economic benefits. VIRTMED's GlobalSync(TM) Server integrates three domains -- handheld computers, Internet technology and existing healthcare information systems -- to provide healthcare professionals with easy-to-use and comprehensive solutions that improve the quality of patient care. VIRTMED combines a world-class technology, a world-class management team and world-class capital partners to offer a unique "last mile solution" in healthcare -- moving patient information from the hospital information system to the healthcare provider at the point-of-care. VIRTMED can be found on the World Wide Web at http://www.virtmed.com. 3Com is a registered trademark of 3Com Corporation. Palm is a trademark of Palm, Inc. |
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