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AMICAS Maintains Market Momentum Into 2005
New Name, New Products, 19 New Radiology Contracts in Q4, and Cash Influx Set the Tone
Boston, MA, February 16, 2005 /PRNewswire/ -- AMICAS, Inc. (Nasdaq: AMCS), a leader in radiology and medical image and information management solutions, announced today that 2005 has begun with significant momentum based upon strong Q4 sales, as well as several recent strategic product and corporate initiatives implemented at the conclusion of 2004. Following the January 3rd closing of the $100 million cash sale of VitalWorks’ medical division to Cerner Corporation, VitalWorks changed its corporate name to AMICAS, along with its Nasdaq ticker symbol (AMCS), leading into 2005 with a radiology-focused corporate identity and business plan. Additionally, AMICAS established the Vision Series™ as the central corporate brand, encompassing Vision Series RIS, Vision Series PACS, and Vision Series Financials. With radiology as the corporate focal point, AMICAS has announced its intent to leverage its technology and product suite, installed base, and implementation know-how to continue building a world-class image and information management solutions company.
Underscoring the above strategic events, a record-setting 62 new PACS customers were signed by AMICAS in 2004, with five new Vision Series RIS and 14 new Vision Series PACS customers in the fourth quarter alone. Of these PACS customers, five were for integrated solutions of Vision Series RIS and Vision Series PACS. Demonstrating our HIS/RIS independence, AMICAS Vision Series PACS has been integrated with at least 20 different RIS platforms, at least ten different electronic medical record platforms, and at least seven different interface engines.
AMICAS’ acute care market penetration into healthcare institutions that utilize MEDITECH health care information systems (HCIS) continued in the quarter, with an additional six MEDITECH customers. Offering a strong value proposition rooted in affordable, repeatable PACS integration, AMICAS is proud to have 26 unique MEDITECH institutions as PACS customers. Of important note, the vast majority of these customers have chosen to integrate PACS images into their electronic medical record, empowering filmless operations. AMICAS’ dominance of the MEDITECH integrated PACS market segment is evidenced across all MEDITECH radiology platforms, in individual hospitals, as well as in complex, multi-facility delivery networks connected via enterprise master patient index (EMPI). At this week’s Healthcare Information and Management Systems Society (HIMSS) Annual Conference in Dallas, TX, AMICAS is demonstrating real-time integration to MEDITECH’s HCIS in AMICAS’ booth, number 3904.
Some of the more significant customer partnerships that were recently signed include:
- San Diego Diagnostic Radiology (SDDR)/Children’s Hospital and Health Center San Diego (San Diego, CA)
AMICAS will provide SDDR with Vision Series PACS to optimize radiology interpretation services delivered across the hospital’s renowned healthcare campus, focused on pediatric care. The hospital utilizes MEDITECH HCIS for information technology operations in their 234-bed facility.
- Western Maryland Health System (Cumberland, MD)
AMICAS will optimize medical imaging across two hospitals of this respected integrated delivery network with Vision Series PACS, providing care to the residents of Cumberland, MD and their surrounding communities. Western Maryland is a MEDITECH HCIS customer.
- Greater Baltimore Medical Center (Baltimore, MD)
AMICAS will provide Vision Series PACS to this nationally recognized care provider (www.gbmc.org) specializing in women’s services, oncology, and surgical services. This premier facility will utilize PACS across their 300-bed campus, servicing over 1,300 physicians, complete with both a new adult/pediatric emergency department and a soon-to-open, state-of-the-art medical office building.
- Xtria / Howard Regional Health System (Kokomo, IN)
AMICAS is pleased to provide radiology PACS to Xtria, a respected information technology service provider, who will deliver Vision Series PACS from AMICAS as well as Heartlab Encompass™ Cardiology PACS to the Howard Regional Health System via a managed services agreement. These premier, leading edge, integrated products and services will establish Howard Regional, a MEDITECH HCIS customer, as one of the most technologically advanced community health systems in the nation.
About AMICAS, Inc.
AMICAS, Inc. (www.amicas.com) is a leader in radiology and medical image and information management solutions. The AMICAS Vision Series™ products provide a complete, end-to-end solution for imaging centers, ambulatory care facilities, and radiology practices. Acute care and hospital clients are provided a fully-integrated, HIS/RIS-independent PACS, featuring advanced enterprise workflow support and scalable design. Complementing the Vision Series product family is AMICAS Insight Solutions™, a set of client-centered professional and consulting services that assist our customers with a well-planned transition to a digital enterprise.
Safe Harbor Statement
Except for the historical information herein, the matters discussed in this release include forward-looking statements. The forward-looking statements contained in this release include statements about future financial and operating results. When used in this press release, the words: believes, intends, plans, anticipates, expects, estimates, and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause actual results to differ materially which include, but are not limited to, the following: a significant portion of the company’s quarterly sales are concluded in the last month of the fiscal quarter; the length of sales and delivery cycles; the deferral and/or realization of deferred software license and system revenues according to contract terms; the timing, cost and success or failure of current and new product and service introductions and product upgrade releases; the inability to achieve revenues from combined lines of products; the ability of AMICAS to comply with all government laws, rules and regulations; and other risks affecting AMICAS’ businesses generally and as set forth in AMICAS’ most recent filings with the Securities and Exchange Commission. All forward-looking statements in this release are qualified by these cautionary statements and are made only as of the date of this release. AMICAS is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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Anne Gagne
1.800.490.8465 x 7741
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investorrelations@amicas.com
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