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ALLTEL TO ACQUIRE TDS HEALTHCARE SYSTEMS

 LITTLE ROCK, Ark., Aug. 31 /PRNewswire/ -- ALLTEL Corporation (NYSE: AT) announced today that it has signed a definitive agreement to acquire TDS Healthcare Systems Corp. TDS will be operated under Systematics Healthcare Services, Inc. -- a newly formed subsidiary of ALLTEL's Systematics Information Services.
 Under the terms of the agreement, which will be accounted for as a pooling-of-interests, ALLTEL will exchange 2.0 million ALLTEL common shares for all outstanding shares of TDS' capital stock. Pending receipt of necessary approvals, ALLTEL expects to complete the acquisition later this year.
 TDS, a privately held company headquartered in Atlanta, is a leading provider of comprehensive patient care information systems. The company currently serves more than 200 hospitals in the United States, Canada, the United Kingdom and Europe. TDS has annual revenues of approximately $75 million and operating income of approximately $10 million. ALLTEL expects the acquisition of TDS to be anti-dilutive, excluding one-time merger expenses.
 Joe Ford, ALLTEL chairman and CEO, said, "We have been carefully pursuing the healthcare information processing market -- since 1992, when we signed a key outsourcing contract with Beverly Enterprises, the largest supplier of long-term healthcare and nursing home facilities in the U.S. We believe the acquisition of TDS is a key strategic move that will significantly expand our opportunities in healthcare. The combination of Beverly and TDS solidifies our presence and expertise in this growing market."
 According to industry sources, healthcare institutions in the United States will spend approximately $5 billion this year alone for patient care information processing services. This market is further expected to grow by nearly 13 percent annually -- to $8 billion by 1996.
 Gene Cattarina, TDS president and chief operating officer, commented, "The combination of Systematics' outsourcing expertise with TDS' acknowledged industry leadership in patient care-driven information systems has uniquely positioned us to meet the challenges and opportunities of the emerging healthcare environment. As the healthcare industry continues evolving, the need to integrate diverse information systems into a single system that manages and communicates information will be critical. Clearly, the proven performance of TDS software systems and Systematics outsourcing services capabilities will be an extremely powerful force in healthcare computing."
 TDS markets proven, comprehensive patient-centered healthcare enterprise information systems. Built on a computer-based electronic record (TDS' Permanent Patient Record,) the TDS system automates more than 80 percent of a patient's lifetime of care record and makes that information available on-line and in real-time from any system workstation -- from the patient's bedside to the physician's office. Additionally, TDS systems have been designed specifically for direct use by physicians and other clinicians for both order entry and results retrieval -- a key to reducing the cost while enhancing the quality of care.
 Systematics, with clients in 49 states and 32 countries outside the United States, provides information processing management and outsourcing services and software to the financial, telecommunications and healthcare industries. The company is a subsidiary of ALLTEL Corporation.
 ALLTEL Corporation (NYSE: AT) is a leading telecommunications and information services company. In addition to providing local telephone service, ALLTEL subsidiaries provide cellular telephone service, information services and communications products.
 -0- 8/31/93
 /CONTACT: Ron Payne, vice president-corporate communications of ALLTEL Corp., 501-661-8989/
 (AT)


CO: ALLTEL Corporation; TDS Healthcare Systems Corporation ST: Arkansas IN: TLS HEA SU: TNM

AR -- CL006 -- 7376 08/31/93 09:10 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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