DAOU Systems, Inc. Announces $100 Million, Five-Year Information Technology Contract With Saint Mary's Health Network, Reno, Nevada.SAN DIEGO--(BW HealthWire)--Jan. 11, 1999--DAOU Systems, Inc. (Nasdaq:DAOU) announced today an approximately $100 million Information Systems Outsourcing contract with Saint Mary's Saint Mary's, island, Scilly Islands Saint Mary's, England: see Scilly Islands. Health Network, Reno, Nevada. The contract, which spans over five years, encompasses DAOU Systems, Inc. providing a complete range of Information Technology (IT) outsourcing solutions to Saint Mary's Health Network. Georges Daou, chief executive officer of DAOU Systems, Inc., stated, "We have successfully completed a comprehensive acquisition strategy, and now provide a full complement of IT outsourcing services including, Application Implementation, Communications Infrastructure, including voice, video, the network and the desktop, Consulting and Data Integration. "DAOU will leverage its relationships with the leading Healthcare Information Services See Information Systems. (HIS) vendors, hardware vendors and apply our expertise to improve the effectiveness of Saint Mary's IT operations. Our partnering with Saint Mary's represents the first major fulfillment of our ability to provide a full range of, single source, value-added solutions." Jeff Bills, president 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 Saint Mary's Health Network, stated, "We are very pleased to have DAOU handle all of our Information Technology needs. They have demonstrated to us over the years that they can enhance our productivity and efficiency, and ultimately help us deliver better healthcare. That is why we have entered into this strategic partnership." Saint Mary's has allocated the approximately $100 million agreement across professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , vendor support contracts and capital expenditures to execute their IT strategy under DAOU management. DAOU management will be responsible for the entire IT budget and currently plans to have about 60 employees on site and leverage its industry relationships to enhance support contracts where possible. DAOU also plans to utilize its own nearly 800 person workforce to deliver on portions of the operating budget Noun 1. operating budget - a budget for current expenses as distinct from financial transactions or permanent improvements budget items, operating cost, operating expense, overhead - the expense of maintaining property (e.g. that DAOU services can handle productively and economically for Saint Mary's. The contract, which spans five years, has a renewal option for a sixth year. DAOU Systems, Inc. is a provider of integrated Information Technology (company) Integrated Information Technology - (IIT) A Santa Clara based company producing a programmable, single chip H.261 and MPEG system. The chip contains a RISC processor, originally based on the MIPS architecture but now called RISCit, and a "Pixel Processor". (IT) solutions and services to the U.S. healthcare U.S. Healthcare is a now-defunct healthcare company. The logo had an apple. The merger with Aetna In 1996, the company merged with Aetna, calling it Aetna U.S. Healthcare. The U.S. Healthcare apple logo was next to the Aetna name, and U.S. Healthcare under it. U.S. industry. DAOU's capabilities range from up-front strategic consulting to IT system design, implementation and long-term tactical support. DAOU's IT offerings include data, voice and video networking, applications consulting and implementation, as well as operational and Internet solutions. DAOU has nearly 800 employees, and has provided services to more than 1,300 healthcare organizations, including many of the nation's top 100 integrated delivery systems integrated delivery system Integrated provider Medical practice A coordinated health care system formed by physician groups and hospitals which ↑ efficiency and ↓ redundancy in providing health care; IDSs coordinate delivery of a broad range of health . DAOU's clients include organizations such as Catholic Health Care West, The Cleveland Clinic Cleveland Clinic (formally known as the Cleveland Clinic Foundation) is a multispecialty academic medical center located in Cleveland, Ohio, USA. Cleveland Clinic was established in 1921 by four physicians for the purpose of providing patient care, research, and medical , Mercy Health Services health services Managed care The benefits covered under a health contract , Saint Barnabas Health Care, and Humana Healthcare. More information about DAOU Systems can be found at www.daou.com on the World Wide Web. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve numerous risks and uncertainties. The company's actual results could differ materially from those projected in such forward-looking statements and will depend upon a number of factors, including those discussed in the company's filings with the Securities Exchange Commission and other press releases of the company. |
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