CCES To Acquire Medical Software Company.Business Editors & High Tech/Medical Writers HOUSTON--(BUSINESS WIRE)--April 9, 2002 Crescent Communications, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCES CCES China Civil Engineering Society CCES Canadian Center for Ethics in Sport CCES Contingency Communications Extension Switch CCES Corporate & Continuing Education Services CCES Command Center Evaluation System CCES Child Custody Evaluation Service ) announced it has signed a non-binding Letter of Intent to acquire privately held eMedical Records Online, LLC., ("eMRO"), a Coral Springs, Florida Coral Springs, officially chartered July 10, 1963, is a city in Broward County, Florida, United States, approximately 20 miles (32 km) northwest of Fort Lauderdale, Florida. According to the U.S. , medical software technology company (www.emedicalrecordsonline.com). eMRO is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that has developed a unique software platform whereby clients in the medical industry can deliver their applications and data securely over the internet. eMRO's software solution allows legacy based applications to take several large strides towards supporting Internet environments. The software shortens the development cycles for application vendors that need to migrate their products into the ASP space but are concerned about the resources necessary to fully web-enable their applications. By shortening time-to-market for these entities, this approach can accelerate revenue generation for ASPs. Clients can retain their own servers and manage their own security and policies. eMRO delivers its services based upon a subscription basis, and enables the clients to focus on core competencies rather than software management and infrastructure. The system makes HIPPA Hip´pa n. 1. (Zool.) A genus of marine decapod crustaceans, which burrow rapidly in the sand by pushing themselves backward; - called also bait bug ltname>. See Illust. under Anomura. compliance possible with minimum cost. The agreement is subject to standard due diligence, representations, warranties, covenants, indemnifications, and conditions customary for transactions of this type and is expected to close by May 31, 2002. The purchase price of the acquisition was not disclosed. "This is another opportunity for Crescent to fully integrate itself as a leading edge 'Last Mile' software and connectivity solution for the medical industry," stated Manfred Sternberg, 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. . "With these platforms running over our secure medical network, we can deliver a host of services and products to the medical community via our secure HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, compliant network." "eMRO is very excited about CCES' acquisition, this new partnership will truly allow out company to empower healthcare professionals to provide cost effective patient care management," said Michael Reale, Sr Vice President of eMRO. At closing, Mr. Reale will join the management team of CCES. Prior to forming eMRO, Mr. Reale was Vice President for a $1.5 billion revenues technology division of Xerox; COO of Boca Research, Inc a publicly held technology company and Director of Manufacturing for the PC division of IBM. About Crescent Communications, Inc. Crescent Communications (OTCBB:CCES) headquartered in Houston, Texas, is a Healthcare technology holding company, focusing on providing industry specific solutions for the Federally mandated Health Insurance Portability and Accountability Act The Health Insurance Portability and Accountability Act (HIPAA) was enacted by the U.S. Congress in 1996. According to the Centers for Medicare and Medicaid Services (CMS) website, Title I of HIPAA protects health insurance coverage for workers and their families when , ("HIPAA") legislation. This legislation requires the health care industry to process all health care information, including billing, through a secure data interchange as mandated by the Secretary of Health and Human Services Noun 1. Secretary of Health and Human Services - the person who holds the secretaryship of the Department of Health and Human Services; "the first Secretary of Health and Human Services was Patricia Roberts Harris who was appointed by Carter" , as of October 2003. Crescent's business strategy is divided into three key areas; HIPAA Solutions (an integrated service solution division); Electronic Data Interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. (a verification organization); and Secure Medical Networks ("SMN") ( broadband digital connectivity for medical office buildings). All three-divisions work seamlessly together to provide a "total solution" for the entire health care industry. Crescent's recently formed Health Care Division will integrate "front-end" point of service transactions with "back-end" administrative processes. Integrated solutions will be available through Electronic Data Interchange (EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. ) includes real-time electronic eligibility, physician practice management with electronic transactions, claims status and history, and provider identification. This news release contains "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. |
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