Panasonic and HealthTech Form Strategic Alliance.SECAUCUS, N.J./NORTHBROOK, Ill.--(BUSINESS WIRE)--Sept. 15, 1997-- New Partnership to Identify, Penetrate Specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. Health Care Markets Panasonic Home and Commercial Products Company, a division of Matsushita Electric Corp. of America, and HealthTech Services Corp. announced today the formation of a strategic business alliance in the field of health care automation in the home and other alternate sites. Under the terms of the strategic alliance, Panasonic has invested $2 million in HealthTech stock. Panasonic and HealthTech plan to jointly develop innovative technological applications that incorporate HealthTech's software and technology. In addition, Panasonic has secured certain distribution rights for these technologies in Japan and other Asian markets. "Through our partnership with HealthTech, Panasonic gains access to important new segments in the health care market," said Ronald B. Richard, president of Panasonic Home and Commercial Products Company. "Drawing on HealthTech's proprietary software and medical market expertise, Panasonic will help to develop state-of-the-art hardware that strengthens our position in the consumer health care arena." The new alliance reflects the recognition by Panasonic and HealthTech that the primary site of patient care is moving from the hospital to the home and other alternate site settings. As this fundamental shift continues, the two companies plan to develop innovative applications for this growing market, which includes acute patient care and, increasingly, the more routine health needs of consumers. Speaking on behalf of HealthTech, Michael J. Glynn, 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. , said, "We are pleased with Panasonic's commitment to creating a portfolio of next-generation applications. Panasonic provides HealthTech with the significant resources to develop and apply new technologies that will have a powerful impact in the home and alternate site settings." Panasonic Home and Commercial Products Company is a unit of Matsushita Electric Corp. of America (MECA MECA Maine College of Art MECA Middle East Children's Alliance MECA Manufacturers of Emission Controls Association (Washington, DC) MECA Marriage Equality California MECA Mars Environmental Compatibility Assessment ), which is headquartered in Secaucus, N.J., and was established in 1959. MECA is the principal North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE NYSE See: New York Stock Exchange :MC), a $61 billion electronics manufacturer and marketer based in Osaka, Japan. Based in Northbrook, Ill., HealthTech Services Corp., uses state-of-the-art technology to automate To turn a set of manual steps into an operation that goes by itself. See automation. key health care processes in the home and alternate site settings. HealthTech's first product The HANC HANC Hebrew Academy of Nassau County (New York) HANC Haight Ashbury Neighborhood Council HANC Horizontal Ancillary Data (Video, SMPTE, DVB, SDI* (TM) Network enables physicians and other health care providers to manage stable, high acuity acuity /acu·i·ty/ (ah-ku´i-te) clarity or clearness, especially of vision. a·cu·i·ty n. Sharpness, clearness, and distinctness of perception or vision. patients at home instead of in the hospital. CONTACT: Panasonic Corporate News Center, Secaucus Kurt Praschak, 201/392-6124 or HealthTech Services Corp. Timothy Sipols 212/696-4455, ext. 272 |
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