Advanced Health Corporation Announces Bukstel & Halfpenny Incorporated Information Technology Acquisition.TARRYTOWN Tarrytown (târ`ētoun), village (1990 pop. 10,739), Westchester co., SE N.Y., a residential suburb of New York City, on the E bank of the Hudson opposite Nyack; settled in the 17th cent. by the Dutch, inc. 1870. , N.Y.--(BUSINESS WIRE)--Sept. 18, 1997--Advanced Health Corporation (Nasdaq:ADVH) today announced the acquisition of Bukstel & Halfpenny Incorporated's (B&H) proprietary laboratory and other health care information technologies business. These technologies expand ADVH's product and service offerings which provide electronic linkages between physicians and other health care organizations. The primary acquired asset is B&H's DR. CHART system, which links physicians with hospital-based clinical systems such as laboratory, radiology radiology, branch of medicine specializing in the use of X rays, gamma rays, radioactive isotopes, and other forms of radiation in the diagnosis and treatment of disease. , and pathology pathology, study of the cause of disease and the modifications in cellular function and changes in cellular structure produced in any cell, organ, or part of the body by disease. systems. This technology allows physicians to view clinical results rapidly and accurately regardless of which lab or facility produced the report. ADVH will acquire B&H's information technology in exchange for up to an aggregate of $4.5 million in equity and cash consideration, depending upon future performance. In addition each of the B&H principals has entered into an employment arrangement with Advanced Health Med-E-Systems. "We are excited about this acquisition," said Robert Alger, President of Advanced Health Med-E-Systems. "The B&H information tools expand and support our existing products by providing Med-E-Practice users with real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. access to lab, radiology and pathology information." Founded in 1987 by Ed Bukstel and Charles Halfpenny and based in Conshohocken, PA, B&H creates and markets clinical software solutions which allow health care providers to electronically connect with hospital information systems, reference laboratories, radiology groups and managed care organizations. Advanced Health Corporation provides a full range of integrated management services and clinical information systems to physician group practices and physician networks. The management services provided by Advanced Health Corporation include physician practice and network development, marketing, payor payor (payer) n. The one who must make payment on a promissory note. contracting, financial and administrative management, clinical information management, human resource management and practice and network governance Governance makes decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes. Sometimes people set up a government to administer these processes and systems. . Advanced Health Corporation developed its clinical information systems to provide physicians, at the point of care and on a real time basis, with patient- specific clinical and payor information and the ability to generate patient medical orders and facilitate the implementation of disease management programs. -0- Editor's Notes Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : This release is available on the 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 at http://www.advhealth.com and at http://www.noonanrusso.com. CONTACT: Advanced Health Corporation Ophelia Bumgardner 914/524-4720 e-mail: obumgardner@advhealth.com or Noonan/Russo Communications, Inc. 212/696-4455 Jennifer Angell (investors), ext. 240 Michele Helm (media), ext. 225 e-mail: news@noonanrusso.com |
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