CareDecision Corp. Completes Acquisition of Former Kelly Company CareGeneration, Inc. and Its Associated Properties.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Merger Creates Emerging Prescription Drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, Channels Leader That Generated $100 Million+ Revenues in 2003-2004 CareDecision Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CDED CDED Canadian Digital Elevation Data CDED Common Desktop Environment Developers (Unix) ), a leading Wi-Fi PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). technology provider to the lodging and satellite media industries, and the developer of patent-pending technologies for e-health and 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. applications, and its subsidiaries, Pharma Tech Solutions, Inc. and Medicius, Inc., today announced the closing of the acquisition of CareGeneration, Inc. into CareDecision's subsidiary Pharma Tech Solutions, Inc., which will now assume the businesses and manage the associated properties of CareGeneration, Inc. ("CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. "). This acquisition creates a combined company that possesses expertise in the development and delivery of wireless solutions for handheld devices, specifically software to facilitate the Company's important entry into retail prescription drug distribution channels serving America's 40+ million uninsured and under-insured, e-prescribing initiatives, and the distribution of bulk pharmaceuticals. The Company also possesses Wholesale Drug Distribution Licenses in Indiana and Illinois, and an FDA-approved drug distribution warehouse facility in Carthage, Illinois. "This is a milestone day, not just for the employees and shareholders of CareDecision but for the more than 40 million uninsured and underinsured un·der·in·sure tr.v. un·der·in·sured, un·der·in·sur·ing, un·der·in·sures To insure under a policy that provides inadequate benefits: Be certain that you are not underinsured against catastrophic illness. citizens who will soon gain access to more affordable, discounted prescription drugs, improving their lives and preserving their health," commented Robert Cox, 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 CareDecision Corp. "Our distribution agreements initiated last month are already providing CareDecision with important revenue and cash flow streams and have enabled us to begin the work of linking our wireless applications to this drug distribution infrastructure. Our improved cash flow picture has allowed for the accelerating of our plans to connect physicians and clinics serving the uninsured to our unique prescription delivery system." Mr. Cox concluded, "Now, we can begin the work in earnest of integrating the wireless handheld software capabilities from legacy CareDecision and its subsidiaries and the drug distribution capabilities of the legacy Kelly Companies. This was, truly, an ideal merger, providing large opportunities and leveraging unique capabilities with real-world delivery channels. The future of our Company is one of excitement and ultimate success." About CareDecision Corp. CareDecision Corp. is an emerging leader in the distribution of discounted prescription drugs via a unique wireless handheld e-prescribing platform and a robust drug distribution network. The Company is leveraging its capability of producing Internet-enhanced PDA devices into applications within the healthcare, lodging, and satellite rebroadcast industries. Its proprietary ResidenceWare, MD@Hand and Satelink, technologies manage critical data, enhance productivity and e-commerce, and facilitate communication with applications in the healthcare, apartment, hotel/motel and satellite rebroadcast industries. The Company operates a 5000 square foot, state-of-the-art, 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. approved drug distribution facility in Carthage, Illinois. Learn more at http://www.caredecision.net. For further information, please contact: Carla Hintz, The Wells Group, 480-391-7400 or visit the company's Web Site: http://www.caredecision.net. Safe Harbor Statement Under 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: This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934. |
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