Applied Digital Solutions' Wholly Owned Subsidiary, Digital Angel.net, Inc., Agrees to Acquire 16.6% Interest in Medical Advisory Systems, Inc. and Receives Control of Board.Business Editors/High Tech Writers PALM BEACH, Fla. & OWINGS, Md.--(BUSINESS WIRE)--Feb. 8, 2001 Telemedicine Pioneer to Offer FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. Compliant ASP Facility, Medical Assistance, Medical Equipment and Pharmaceutical Distribution,and Occupational Health Services health services Managed care The benefits covered under a health contract Worldwide to Digital Angel Customers Applied Digital Solutions, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ) and Medical Advisory Systems (AMEX AMEX See: American Stock Exchange : DOC) today announced that Digital Angel.net, Inc., has agreed to purchase a 16.6% interest in Medical Advisory Systems, Inc. ("MAS") from members of senior management of MAS. In conjunction with the purchase, Digital Angel.net will be nominating four members to the Board of Directors of MAS including Mercedes Walton and David A. Loppert, President and former CFO See Chief Financial Officer. , respectively, of Applied Digital Solutions, and two as yet unnamed outside directors with strong medical backgrounds. Ron Picket will continue in the role of President and Chairman and Dr. Thomas Hall Thomas Hall may refer to:
MAS operates a secure ASP facility under FDA guidelines for the tracking of clinical studies. MAS also offers a variety of services to individuals and Fortune 100 clients including: 24/7 physician-staffed Medical Telecommunications Response Center, emergency/non-emergency medical advice for maritime customers including, recreational boaters, cruise ships This is a list of cruise ships, both those in service and those that have since ceased to operate. Both cruise ships and cruiseferries are included in this list. (Ocean liners are not included on this list, see List of ocean liners. , and off-shore oil platforms, and emergency/non-emergency distribution of medical equipment and supplies under FDA and DEA DEA - Data Encryption Algorithm guidelines. Commenting on the transaction, Mercedes Walton, President and COO of Applied Digital Solutions, stated: "This furthers our strategy to define the Digital Angel `product' in terms of both device and service. Through this transaction, we have added another facet to the service side of the Digital Angel products. Applied Digital will now have a secure, FDA approved ASP facility for management sensitive data and a 24/7 physician-staffed medical call center for use by Digital Angel customers and end-patients. In addition to location and bio-monitoring, Digital Angel will now be able to offer subscribers to the Digital Angel Delivery System the ability to have their medical needs and emergencies monitored and treated by a physician 24 hours a day, 7 days a week, 365 days per year from anywhere in the world. This additional layer of value-added service A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. stands to further distance us from potential competitors." Ms. Walton expanded on further synergies within the overall business of Applied Digital Solutions: "We intend to fully leverage the interrelationship in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in of our core businesses of applications and call center solutions with MAS. Moreover, the international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. of MAS are in lock step with our own plans for a global presence. Through this relationship, we will enjoy a first-mover advantage First-mover advantage is the advantage gained by the initial occupant of a market segment. This advantage may stem from the fact that the first entrant can gain control of resources that followers may not be able to match. into key geographic markets. " Ron Picket, Chairman and President of MAS, echoed Ms. Walton's excitement: "This transaction is mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" to MAS and Digital Angel.net for a variety of reasons. For three years, we have been building the telecommunications infrastructure necessary to offer an array of healthcare services and assistance worldwide. This strategic alliance serves as the final pillar to our company's platform. We will not only be the backbone to ensure Digital Angel's customers receive the highest level of service possible, but we will also provide marketing expertise to our extensive international customer base. In addition, we believe that Applied Digital Solutions, the parent company of Digital Angel.net, will be instrumental in bringing potential customers to MAS." About Digital Angel In December of 1999, Applied Digital Solutions announced that it had acquired the patent rights to a miniature digital transceiver -- which it has named Digital Angel. Digital Angel represents the first-ever operational combination of advanced sensor technology and Web-enabled wireless telecommunications linked to GPS systems. The company believes this technology will enable it to tap into a multi-billion dollar marketplace with a number of applications that will prove to be extremely popular. Potential applications include: medical and location monitoring for at-risk patients; emergency location of lost or missing children; finding lost or missing household pets; managing livestock and other farm-related animals; pinpointing the location of valuable stolen property; and managing the commodity supply chain. Digital Angel data is transmitted wirelessly, on a real time basis, to an Internet-integrated ground station and made available on a Web-enabled desktop, laptop or wireless device. A new Digital Angel wristband wristband An identifying bracelet attached to a Pt's wrist at the time of admission to a health care facility, which may be the only identifier used during a person's stay in a hospital device will be unveiled at Cyberposium at Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. on February 10, 2001. For more information about Digital Angel, visit www.digitalangel.net . About Medical Advisory Systems Medical Advisory Systems, Inc. is a telemedicine pioneer that has operated a 24/7, physician-staffed call center in Owings, MD for almost 20 years. Through a worldwide telecommunications network, MAS provides health care to ships-at-sea and other remote locations, one-on-one "chats" with a physician via the Internet or telephone, as well as medical and non-medical services for the travel industry. MAS owns a 12% stake in Paris-based CORIS Group, which provides it with the ability to offer its services (including travel assistance and insurance) in over 30 countries worldwide. As Application Service Provider (ASP) for eResearchTechnology, Inc. ( www.ert.com ), a subsidiary of PRWW, Ltd. (NASDAQ: PRWW), MAS will deploy and support a post market safety surveillance service marketed to the pharmaceutical, medical device and biotechnology industries. For additional information, visit www.mas1.com . About Applied Digital Solutions, Inc. Applied Digital Solutions is a leading, single-source provider of e-business solutions. The company grew revenues a remarkable 14,315 percent over the past four years. In recognition of its strong growth record, the company has been ranked in the top tier of the fastest growing technology companies in the "Technology Fast 500" listing compiled annually by Deloitte & Touche. With a ranking of 27 in the listing for the year 2000, Applied Digital was ranked in the Top Ten of the Fast 500 in two of the past four years. For more information, visit the company's website at http://www.adsx.com . Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are `forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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