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Industry Watch

June 1, 1998
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[Industry Watch]SUPERIOR BUYS OUTSOURCING COMPANY
Superior Consultant Holding Corp., Southfield, Mich., announced it will purchase Wallingford, Conn.-based Lincoln Computer Corp. for $9 million in Superior stock. Superior’s interest is in NetLine, Lincoln’s outsourcing business that provides network administration services to healthcare organizations.

MEDICAL MANAGER CONTINUES ACQUISITIONS
Medical Manager Corp., Tampa, Fla., continues acquiring its independent dealerships The company announced it will buy four of its resellers with combined revenues of $6.8 million. Medical Practice Support Services, Inc., Zelienople, Pa.; Healthcare Informatics, Inc., Springfield, Ill.; Strategic Systems, Inc., Denver; and Management Integrated Solutions, Houston, join the 22 other dealerships that Medical Manager has acquired since the company consolidated and went public in February, 1997.

DAOU ACQUIRES TWO NETWORKING FIRMS
Daou Systems Inc., the San Diego-based healthcare network services firm announced it is acquiring network integration and consulting firm, Sentient Systems Inc. of Kensington, Md. for $26 million in Daou common stock. The company also said it would acquire Synexus Inc., Exton, Pa., for $3 million in stock. Synexus specializes in project management and application interfacing. Both companies will become wholly owned subsidiaries of Daou. Sentient provides Daou with an expanded client base and a broader offering of network services, particularly consulting and integration.

THE MRC GROUP GAINS ANOTHER TRANSCRIPTION COMPANY
The MRC Group, Cleveland, providers of medical transcription services, said it has purchased Transcription Concepts, a $1.5 million service company based in Sacramento, Calif. The MRC Group, completing its fourth acquisition in the past year, boosts its marketshare in California and Nevada with the purchase. Terms of the sale were not released.

PROXYMED ACQUIRES CALIFORNIA EDI COMPANY
ProxyMed, Inc., Ft. Lauderdale, Fla., announced it will acquire electronic claims processing company, Integrated Medical Systems (IMS), Santa Ana, Calif., for $27.5 million in cash and ProxyMed common stock. ProxyMed will offer its prescription and laboratory electronic data interchange services to IMS clients, comprised of 35,000 providers in California. With access to IMS’ network, the company believes it has a greater chance of securing contracts with physician practice management software vendors, according to a statement issued by the company.

MEDIC JOINS AWG
Medic Computer Systems, Raleigh, N.C., announced it has joined the Andover Working Group, a standards development organization sponsored by Hewlett-Packard. Medic joins other healthcare IT vendors that collaborate on the HP Enterprise Communications Framework, an interoperability standard based on the HL7 messaging protocol.

MEDISOLUTION EXPANDS CANADIAN BUSINESS
Toronto’s MediSolution, providers of healthcare information technologies and services announced it will acquire healthcare networking firm InterSignal, Montreal. The purchase provides MediSolution with an increased Canadian healthcare client base and an expansion of its IT offerings.

LANDACORP RAISES EQUITY
Resource management software vendor, Landa Management Systems Corp. (Landacorp), Chico, Calif., secured $8 million in equity financing that will be used to grow the company. Investments were made by Bedrock Capital Partners, Greylock Management Corp. and Sequoia Capital.

HEALTHPOINT CHANGES NAME
To better reflect the company’s direction, HealthPoint, the computer-based patient record developer owned by Glaxo Wellcome and Physician Computer Network, Inc., is changing its name to HealthMatics. President William Baicy said the name sends a clear signal about the products the company offers. HealthMatics’ CPR product, designed for ambulatory care, is being used as part of an HIV outcomes observational database called CHORUS, sponsored by Glaxo Wellcome’s Care Management division.


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