MXR news
Medix Resources Announces Technology Purchase
/FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS, MEDICAL AND TECHNOLOGY EDITORS:
Medix Resources Announces Technology Purchase
Technology Purchase Accomplishes Same Objective of Acquisition, and Terminates
Letter of Intent to Purchase Serca Technologies
NEW YORK, Aug. 22 /PRNewswire-FirstCall/ -- Medix Resources, Inc.
(Amex: MXR) today announced that it has contracted for the purchase of certain
technologies intended to permit narrow band multicasting video conferencing
over POTS lines. Based on this acquisition, Medix has terminated its
previously executed letter of intent to purchase Serca Technologies. Medix,
through its wholly owned HealthRamp subsidiary, provides Internet-based
communication, data integration, and transaction processing technologies
designed to provide access to safer and better healthcare at the point of
care.
"We are enthusiastic about the potential development of multicasting video
conferencing over plain old telephone service lines. This purchase provides
us the opportunity to acquire this technology, which we believe could have
many substantial applications. Our interest in Serca has always been on the
potential for their technologies to enable a new form of video conferencing,
with our focus being on applications in healthcare. In addition, Serca is
pursuing the capability of moving data more broadly, through the use of
multicasting, but that is less important to Medix at this time. A simpler
transaction -- a technology purchase -- enables us to pursue the specific
technology we desire, for less consideration, and without the normal
complexities of company integration," stated Darryl Cohen, Medix CEO and
President.
Medix, through its wholly owned HealthRamp subsidiary, provides
Internet-based communication, data integration, and transaction processing
designed to provide access to safer and better healthcare. Medix's products
enable communication of high value-added healthcare information among
physician offices, hospitals, health management organizations, and health
insurance companies. Additional information about HealthRamp, and its
products and services, can be found at www.HealthRamp.com .
Information in this press release contains forward-looking statements.
Actual results could differ materially from such statements as a result of
risks and uncertainties that could adversely affect Medix in the future to a
material degree. Such risks and uncertainties include, without limitation, the
ability of Medix to raise capital to finance the development of its Internet
services and related software, the effectiveness and the marketability of
those services, the ability of the Company to protect its proprietary
information, and the establishment of an efficient corporate operating
structure as the Company grows. These and other risks and uncertainties are
presented in detail in the Company's Form 10-K for 2002, which was filed with
the Securities and Exchange Commission on March 27, 2003. This information is
available from the SEC or the Company
