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NEW YORK, April 26 /PRNewswire-FirstCall/ -- Ramp Corporation today announced that it has entered into a letter of intent to purchase Berdy Medical Systems, Inc., the publisher of the SmartClinic point-of-care software, which has become an
NEW YORK, April 26 /PRNewswire-FirstCall/ -- Ramp Corporation today announced that it has entered into a letter of intent to purchase Berdy Medical Systems, Inc., the publisher of the SmartClinic point-of-care software, which has become an indispensable clinical tool for over 300 physicians. Over a decade of product development is embodied in core SmartClinic technologies enabling off-line device utilization, interoperability, integration with facility based and reference labs, continuous speech recognition and natural language processing. Ramp, through its wholly owned HealthRamp subsidiary, markets the CarePoint and CareGiver technology suites. CarePoint enables electronic prescribing, lab orders and results, Internet-based communication, data integration, and transaction processing over a handheld device or browser, at the point-of-care. CareGiver allows long term care facility staff to easily place orders for drugs, treatments and supplies from a wireless handheld PDA or desktop Internet web browser.
SmartClinic has been awarded industry recognition for its integration capabilities utilizing industry standards by HIMSS (Healthcare Information and Management Systems Society) and Health Level Seven (HL7). In 1995, Berdy Medical Systems received a $2 million grant from the National Institute of Standards and Technology (NIST), as part of the Advanced Technology Program (ATP), to voice-enable SmartClinic. After 3-years, attracting leading academic specialists in the fields of linguistics and pattern recognition, the project was deemed successfully completed by the NIST. When completed, the acquisition will give Ramp the speech engine and natural language processor technologies, SmartVoice(TM) and SmartGist(TM) respectively, created by this effort.
"This acquisition demonstrates our commitment to providing our customers with the most valuable and pragmatic point-of-care solutions. For healthcare professionals to truly adopt a point-of-care tool incorporating an electronic patient health record, the product must support reliable and secure interoperability among disparate systems, reside on devices that support the mobility and long hours commonly experienced by healthcare professionals and permit both touchscreen and voice data capture," stated Andrew Brown, Ramp CEO and President. "By incorporating SmartClinic's core technologies into our CarePoint and CareGiver technology suites we will be able to provide our customers with practical ways to populate and access electronic patient health records in an easily adaptive fashion."
SmartClinic's founders, Jack Berdy, MD and Rick Holtmeier, each of whom are expected to join Ramp, have significant backgrounds in Information Technology that will enhance Ramp's management team. After 20 years as CEO of On-line Software International Inc., which was listed on the New York Stock Exchange until it was sold to Computer Associates in 1991, Dr. Jack Berdy, received his medical degree from the New York Mount Sinai School of Medicine in 1993. Mr. Rick Holtmeier, MBA, was formerly an EVP at On-line, and its chief technology officer. Both founders have been ongoing contributors to numerous organizations including the HL7 Organization, HIMSS, American Academy of Family Physicians and the Medical Group Management Association on the topics of interoperability and electronic patient health records.
The proposed acquisition is subject to definitive documentation and other customary closing conditions, the satisfaction of which cannot be assured. Under the letter of intent, Ramp would purchase all of the assets of Berdy Medical Systems, subject to completion of satisfactory due diligence on the part of Ramp, the negotiation and execution of definitive documents and the closing of the acquisition by June 30, 2004.
Ramp Corporation, through its wholly owned HealthRamp subsidiary, markets the CareGiver and CarePoint technology suites. CarePoint enables electronic prescribing, lab orders and results, Internet-based communication, data integration, and transaction processing over a handheld device or browser, at the point-of-care. CareGiver allows long term care facility staff to easily place orders for drugs, treatments and supplies from a wireless handheld PDA or desktop Internet web browser. HealthRamp's products enable communication of high value-added healthcare information among physician offices, pharmacies, hospitals, pharmacy benefit managers, health management organizations, pharmaceutical companies and health insurance companies. Ramp's Frontline division provides a state of the art telecommunications center that enables 24/7 communication between a medical practice and its patients. Additional information about Ramp, and its products and services, can be found at http://www.ramp.com/.
Safe Harbor Statement: To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance the development of its Internet services and related software, the effectiveness, profitability and the marketability of those services, the ability of the Company to protect its proprietary information and to retain and expand its user base, the establishment of an efficient corporate operating structure as the Company grows and, other risks detailed from time-to-time in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements.
CONTACT: Mitch Cohen of Ramp Corporation, +1-212-440-1551
Web site: http://www.ramp.com/