Germany's Third Largest Health Insurance Corporation Implements AuthentiDate's Scan Signature Solution.Business Editors SCHENECTADY, N.Y. & HANNOVER DUESSELDORF, Germany--(BUSINESS WIRE)--June 27, 2003--Authentidate International, AG, a subsidiary of AuthentiDate Holding Corp. (AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADAT (Alesis Digital Audio Tape) A digital audio recording technology from Alesis, LLC, Cumberland, RI (www.alesis.com). In 1992, Alesis introduced the first 8-track digital tape recording system. ) today announced that the Kaufmaennische Krankenkasse (KKH KKH Karakoram Highway (between Pakistan and China) KKH Kaufmännische Krankenkasse Halle (German) KKH Kandang Kerbau Hospital ), Germany's third largest health insurance corporation, has implemented AuthentiDate's Scan Signature Solution for electronic processing and archiving for payment documentation. While financial terms for the agreement were not disclosed, AuthentiDate stated that revenue would be generated through an upfront installation fee and recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. transaction fees. AuthentiDate's Scan Signature Solution is compliant with German laws and regulations for health insurance companies and was approved by the German Regulatory Office for health insurance (Bundesversicherungsamt/BVA). KKH began using the AuthentiDate technology last week. KKH processes monthly payment documentations of more than 300,000 companies. German law requires documents be archived for a minimum of six years. By using AuthentiDate's Signature Technology, KKH is now able to scan electronically all relevant paper payment documents and attach automatically qualified signatures, compliant to stringent German signature laws, to each document. The signatures and corresponding legally signed electronic documents are archived and can be retrieved, for accounting and legal purposes. The AuthentiDate Signature Technology is legally binding under German law and for the first time, German health organizations using the technology are no longer required to keep paper files once documents have been scanned. KKH is using the AuthentiDate Scan Signature Solution through its scan service provider Cocq Datendienst GmbH. For implementation and integration, AuthentiDate provided a non-vendor specific software module which seamlessly integrated into the high volume scan systems at Cocq. This module provides automated high volume signatures, compliant with German laws. "By using legally compliant signatures, KKH is now able to receive legally binding proofs and fulfill legal requirements", stated Jens Burger, the responsible manager of KKH. "We have chosen AuthentiDate's solution because of the substantial cost reductions we are now able to achieve. This will show a short ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). , which is mandatory for the health insurance industry in Germany, which has very tight budgets these days." Marc Willems, a member of the executive board at AuthentiDate International AG also remarked: "Now, all health insurance corporations, which require mass paper processing may benefit substantially from using signatures. This scan solution provides another proof that signatures increase efficiency and reduce costs in many areas and many industries." About AuthentiDate Holding Corp. AuthentiDate Holding Corp. (AHC) is the holding company of five business units: DocSTAR, AuthentiDate International AG, AuthentiDate, Inc., DJS Marketing Group/Computer Professionals International and Trac Medical Solutions, Inc. AuthentiDate and AuthentiDate AG provide the authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. of digital data through its proprietary and patent pending technology. AuthentiDate is establishing itself as the authority on "content security," a growing sector of the electronic network security infrastructure market. Trac Medical Solutions uses the AuthentiDate service to improve speed, accuracy and security in processing medical forms. These three business units comprise the AuthentiDate Segment for financial reporting purposes. DocSTAR sells a complete line of document imaging products and DJS delivers professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. centered on systems integration projects, staff augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. , out-tasking and outsourcing services, and resells computer related products. About AuthentiDate International AG: AuthentiDate International AG (www.authentidate.de), Dusseldorf, Germany is the first accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. certification provider, certified See certification. by the German Regulatory Authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities for Telecommunications and Posts (RegTP), focusing legal binding timestamps compliant to the strong German electronic signature laws and European signature directives. AuthentiDate is also the first accredited vendor focusing business process solutions, based on electronic signatures and timestamping technology. These solutions are featuring by easy integration, high economic efficiency, platform independence and protection of investment. The AuthentiDate solutions are nationally and internationally used by well-known companies. The customers utilize the signature solutions to achieve legal security within eBilling, archiving, scanning and workflow. In addition AuthentiDate's technology is already integrated in different products of other manufacturers, therefore legal security for business processes is automatically available for many companies. AuthentiDate is present in Europe, USA and also through partners in Asia. AuthentiDate Holding Corp, Inc. located in USA (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 ) is listed on the NASDAQ stock exchange (ADAT) and in Germany (WKN WKN Wertpapier-Kenn-Nummer (identifying number assigned to securities traded in Germany) WKN Warrior Knowledge Network (US Army) 893715). This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of The Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. |
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