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MICRO HEALTHSYSTEMS REPORTS RECORD SECOND QUARTER, FIRST HALF RESULTS; EXTENDS BAXTER DISTRIBUTION AGREEMENT

MICRO HEALTHSYSTEMS REPORTS RECORD SECOND QUARTER, FIRST HALF RESULTS;
                 EXTENDS BAXTER DISTRIBUTION AGREEMENT
    WEST ORANGE, N.J., Nov. 14 /PRNewswire/ -- Micro Healthsystems, Inc. (NASDAQ: MCHS), a producer of Bedside Nursing Patient Care Systems and Healthcare Financial Management Systems for hospitals, achieve record operating results for the second quarter and first half ended Sept. 30, 1991, "despite the loss of $.06 per share, as expected, in the recently acquired AISCorporation subsidiary," S.M. Caravetta, chairman, announced today.  Caravetta also reported a 24-month extension of the exclusive MedTake(R) distribution agreement with Baxter Healthcare Corporation, at Baxter's request, and a stretch out of the remaining guaranteed $22.1 million of MedTake(R) revenues through the extended term to end March 31, 1995.  This is expected to cause a reduction of per share estimates of $.10 this fiscal year.
    Said Caravetta, "Under the revised Baxter agreement, guaranteed minimum payments will be paid at the rate of $1,750,000 during the next ten fiscal quarters, and at the rate of $1,150,000 during the last four quarter of the extended term ending March 31, 1995.  Baxter this week signed a contract to sell MedTake(R) Bedside Information Systems to St. Joseph's Hospital in Dickinson, N.D., a 90-bed institution, with installation to begin before Dec. 31.  Baxter also announced recently two new MedTake(R) interface products, created by Micro Healthsystems for Baxter.
    "The first interface links the MedTake(R) bedside charting system and the laboratory at Inter-Community Medical Center, Covina, Calif., and allows physicians to review lab results at the patient's bedside. Baxter's I.V. Systems Division also announced the first live interface between a bedside computer charting system, two medication-dispensing units and electronic infusion pumps.  The interface links the MedTake(R) automated bedside system, ATC 212 Automated Medication Dispensing System, Baxter's new Sure-Med(TM) narcotic control and distribution system and the Flo-Gard(R) electronic infusion pump.  These developments all augur well for MedTake(R)."
    Caravetta noted that, "We believe the MedTake(R) Bedside Charting System introduced at the Inter-Community Medical Center, Covina, Calif. is the first step in extending MedTake(R) into new areas, since it gives the physician up to the minute information on the most important patient evaluation data.  Our interest in the physician market is great, and led to our purchase last June of the $5 million a year AISCorporation, which has more than 150 physician groups as clients in the U.S., giving us entry into the billion dollar physician billing market.  This customer base should provide the foundation for the extension of our MedTake(R) Bedside System into doctors' offices.  We are successfully introducing programs which should enable AIS to become a more profitable entity next fiscal year.  Also, our Healthcare Financial Management System subsidiary for hospitals continues to grow profitably," he said.
    For the three months ended Sept. 30, 1991, Micro Healthsystems had record revenues of $5,175,000, up 117 percent from the $2,386,000 in the corresponding period the year before.  Net income rose 56 percent to a record $686,000 or $.15 per share on a weighted average of 4,557,000 common shares outstanding, after a loss of $.06 per share at AIS.  This compared with net income of $440,000 or $.10 per share on a weighted average of 4,220,000 shares outstanding in the like period the year before, when AIS was not a component of Micro Healthsystems.
    For the six months ended Sept. 30, 1991, revenues rose 75 percent to a record $8,928,000 from $5,091,000 in the first fiscal half the year before.  Earnings increased 60 percent to $1,428,000 or $.32 per share on a weighted average of 4,530,000 shares outstanding, compared with net income of $892,000 or $.21 per share on 4,208,000 weighted average shares outstanding in last year's first half.
                       MICRO HEALTHSYSTEMS, INC.
                     Consolidated Income Statement
    Three Months ended Sept. 30;       1991         1990
    Revenues                       $5,175,000   $2,386,000
    Income before income taxes      1,274,000      770,000
    Provision for federal &
     state income taxes               588,000      330,000
    Net income                        686,000      440,000
    Weighted average shares         4,557,000    4,220,000
    Net income per share                 $.15         $.10
    Six Months ended Sept. 30;
    Revenues                       $8,928,000   $5,091,000
    Income before income taxes      2,545,000    1,548,000
    Provision for federal
     & state income taxes           1,117,000      656,000
    Net income                      1,428,000      892,000
    Weighted average shares         4,530,000    4,208,000
    Net income per share                 $.32         $.21
    -0-        11/14/91
    /CONTACT:  S.M. Caravetta, chairman & CEO, or Walter Cruickshank, chief financial officer, 201-731-9252, both of Micro Healthsystems/
    (MCHS) CO:  Micro Healthsystems, Inc. ST:  New Jersey IN:  HEA SU:  ERN SM-JT -- NY096 -- 1229 11/14/91 17:11 EST
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Date:Nov 14, 1991
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