Advisory Regarding MedicaLogic.HILLSBORO, Ore.--(BUSINESS WIRE)--Aug. 12, 1998--Today MedicaLogic became aware of speculation that the company is nearing bankruptcy. This rumor is completely false and should be dismissed. MedicaLogic is in a solid cash position with no long term debt. Initial funding came from two of the premier venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] in the country, Sequoia Capital and New Enterprise Associates. In May the company announced the formation of a strategic partnership with CNA (Certified NetWare Administrator) See Novell certification. , one of the world's leading insurance organizations. This partnership includes both an equity position for CNA and the distribution of MedicaLogic's electronic medical record technology through CNA Health Partners' MSO Services. Our strategic distribution relationship with VHA, a network of over 1,750 leading community-owned healthcare organizations and 175,000 physicians, continues to be mutually beneficial. VHA also holds an equity position in MedicaLogic. MedicaLogic continues to invest in the research and development of its core electronic medical records solution, Logician(R), and recently announced a web-based EMR (ElectroMagnetic Radiation) The emanation of energy from everything in the universe. Although the EMR from electrical and electronic devices is typically measured for practical, every-day situations, every object, including humans, emanates energy. , Logician Quickstep quick·step n. A march for accompanying quick time. quickstep Noun 1. a modern ballroom dance in rapid quadruple time 2. music for this dance Noun 1. , which will be demonstrated at the Medical Group Management Association (MGMA MGMA Medical Group Management Association MGMA Metro Global Media, Inc. (stock symbol) MGMA Metal Gutter Manufacturers Association (UK) MGMA Michigan Gospel Music Association ) conference in October. More than 30 of the nation's leading integrated healthcare delivery systems and many group practices are implementing Logician with the assistance of MedicaLogic's Professional Services team and its Implementation Partners, including CSC, First Consulting Group, Ernst & Young LLP, and Arthur Anderson LLP. MedicaLogic now has more than 6,000 users of its clinical software at 250 sites. For more information, please contact David Moffenbeier, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for MedicaLogic, at 503/531-7010.
CONTACT: MedicaLogic, Inc.
David Ray, 503/531-7166
503/531-7001 FAX
http://www.medicalogic.com
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