CareDecision Corp. and Kelly Co. World Group Agree to the Structure of Initial $50 Million Wireless E-Prescription Initiative for the Medically Uninsured.Business Editors/Health/Medical Writers/High-Tech Writers NEW YORK--(BUSINESS WIRE)--May 3, 2004 Kelly Co. to Acquire Equity Stake in CareDecision, Companies Also Plan Revenue and Profit Sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of Strategies and Further Pooling of Mutual Interests CareDecision Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CDED CDED Canadian Digital Elevation Data CDED Common Desktop Environment Developers (Unix) ), the developer of patent-pending 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). 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 a leading provider of technology and products to the lodging and satellite media industries, and CareGeneration, Inc., a leading distributor of pharmaceutical products and a division of Kelly Co. World Group, Inc. (Kelly), today announced that the companies have agreed to the structure of a sweeping e-health initiative for America's medically uninsured medically uninsured A person or group that has/have no health insurance. See Underinsured. . Implementation is scheduled to begin later this month. The initiative will involve the distribution of CareDecision's MD@Rx PDAs to an expected 20,000 physicians, who will use these units and other CareDecision technologies to electronically prescribe medications for the medically uninsured. The program to be jointly administered, calls for CareDecision to provide its patent pending MD@Rx, MD@Desktop, MD@Practice-Probe and MD@Server products and technologies, which build and support e-health networks, linking physicians who are primarily treating the medically uninsured. There are over 40 million Americans without any healthcare insurance. This nationwide collaboration, with an initial value of $50 million, net of the cost of the filled prescriptions, will initially be rolled out in several states, and is arguably the largest e-Script program conceived. Robert Cox Robert Cox may refer to several different people or things:
An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . The current arrangement, a $50 million e-script initiative, provides a viable solution to the growing problems faced by uninsured and under-insured Americans. In the coming days we plan to announce additional details related to this exceptional and unique opportunity." Ronald R. Kelly, founder and CEO of Kelly Co. World Group, Inc., stated, "CareDecision's sophisticated and patent pending technologies will allow this extraordinary undertaking to proceed. This e-health initiative, the largest of its kind to date, will create significant opportunities for our two companies, and is a giant step toward helping to solve the crisis faced by the millions of Americans without health insurance. We have been working on this endeavor for a number of months and are elated by the broad-based support and excitement we are receiving from all sides of this initiative." About Kelly Co. World Group Kelly Co. World Group, Inc. is a private, closely-held Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. that was incorporated in 1988 by Ronald R. Kelly to be the operating vehicle for an international import and export business specializing in high-quality commercial products from a variety of wholesale sources. The Kelly Co. World Group, Inc. pharmaceutical division is licensed for the distribution of pharmaceuticals throughout the United States from its warehousing facility in Illinois. About CareDecision Corp. CareDecision Corp is a leading provider of Internet-enhanced PDA devices applicable to 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. For more information, visit: www.caredecision.net. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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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