Base Ten Seeks Buyer for Its Health Imaging Development Unit.TRENTON, N.J.--(BW HealthWire)--Oct. 15, 1998--Base Ten Systems Inc. (Nasdaq:BASEA BASEA Boston Area Solar Energy Association ) announced Thursday that it is seeking a buyer for a majority stake in the Company's Health Imaging Development Company (HIDC HIDC Holland International Distribution Council HIDC Holder in Due Course HIDC Home Innovations Display Centre (Mornington, Victoria, Australia) HIDC Human Investment and Development Corporation ) unit. Wm Sword & Company, a Princeton, N.J. investment bank, has been retained to raise the private equity capital required for HIDC to market its new IDA Ida (ē`dä), city (1990 pop. 91,859), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural market and railway junction. (Imaging Diagnostics and Archiving) Version 2.0 product line. Health Imaging Development Company develops software used by hospitals and imaging centers to manage diagnostic medical images in picture archiving and communications systems (PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. ). The new IDA 2.0 product line is expected to be launched at the Radiological Society of North America The Radiological Society of North America (RSNA), founded in 1915, has the purpose to "promote and develop the highest standards of radiology and related sciences through education and research". meeting and exposition in November.(a) Thomas E. Gardner, chairman 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 Base Ten, stated, "We are excited about the potential of our new mini-PACS technology and the productivity improvements that can be realized by installing IDA 2.0 software in hospital systems and free-standing imaging departments. "Since this market represents a different customer set than our core businesses, however, the Board of Directors of Base Ten has made the decision to sell a majority stake."(a) Gardner will become chairman of Health Imaging Development Company while continuing in his current positions with Base Ten. Michael G. Elser, an experienced industry executive, will serve as president of HIDC. U.S. market potential for HIDC's products is estimated by the Concord Group, a market research and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , to be about $846 million annually.(a) Base Ten Systems is a leading software technology company, focused on execution systems and services for the pharmaceutical, chemical and medical products industries. Through installation of the company's software, customers around the world can enjoy more effective regulatory compliance, improved manufacturing flexibility and reduced production cycle time. BASE10(TM) execution systems are easily integrated with complementary software partners as manufacturers consolidate their manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. into global supply chain processes. You can learn more about Base Ten Systems by visiting its web site at www.base10.com. (a)Forward Looking Statements The foregoing contains "forward looking information" within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward looking statements may be identified by a letter 'a' in parenthesis parenthesis: see punctuation. The left parenthesis "(" and right parenthesis ")" are used to delineate one expression from another. For example, in the query list for size="34" and (color = "red" or color ="green") ("a") or by such forward looking terminology as "may", "will", "believe", "anticipate", "expect", or similar words or variations thereof. Such forward looking statements involve certain significant risks and uncertainties. Important factors that the Company believes may cause actual results to differ materially from such forward looking statements are discussed in the "Risk Factors," "Business" and "MD&A" sections of the Company's current S-3 registration statements and annual and quarterly reports on file with the Securities and Exchange Commission. Additional risk factors include the effectiveness of the software and ability of the software to operate without "bugs" in the technology, acceptance of the product by customers and actual rollout of the product. In assessing such forward looking statements you are urged to read carefully those reports and other filings. The Company does not undertake to publicly update or revise its forward looking statements even if experience or future changes indicate that any such results or event (expressed or implied) will not be realized. |
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