UAE to raise $3.7 million in private stock placement

February 2, 2000

UAE to raise $3.7 million in private stock placementHealthcare information technology firm United America Enterprises last month moved to raise $3.7 million in a private stock placement in an effort to complete the first phase of its proposed

UAE to raise $3.7 million in private stock placement

Healthcare information technology firm United America Enterprises last month moved to raise $3.7 million in a private stock placement in an effort to complete the first phase of its proposed acquisition of a 60% interest in WorldCare Technologies, as well as to generate working capital for the firm. Vancouver, BC-based UAE signed the $6 million agreement with WorldCare in September, and plans to establish a new healthcare Internet portal using WorldCares OpenMed software suite (PNN 9/99).

On Jan. 19, the company made its first move in that direction. UAE and WorldCare announced the installation of a clinical imaging intranet based on OpenMed for a client in Portugal, accomplished in collaboration with WorldCares partner, Data General. The package allows users to import multimedia data from CT, CR, ophthalmology, and digitized radiology, and to combine the information with outpatient referral letters and clinical notes to create electronic clinical records that can be distributed to other physicians through Web browsers.