IVP Technology (Tall)

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TALL - Press ReleaseSource: ActiveCore Technologies, Inc.
ActiveCore Acquires Healthcare Integration Services Division of SCI Healthcare Group
Monday September 29, 9:01 am ET
Acquisition Includes 18 Active Service Contracts In 12 States
TORONTO, Sept. 29 /PRNewswire-FirstCall/ -- IVP Technology Corp. (OTC Bulletin Board: TALL - News), d.b.a. ActiveCore Technologies, Inc., announced today that it has acquired the Integration Services Division of SCI Healthcare Group, Inc. for a combination of shares and cash. Details were not disclosed. The transaction closed September 19, 2003.
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The Integration Services Division is an experienced provider of IT services to the healthcare market, with over 120 clients serviced during the past few years. SCI is divesting the division to concentrate on services relating to applications developed by McKesson, Siemens, Cerner and other back-office systems development vendors.
ActiveCore said that Rhonda Lindsay has been appointed vice president of U.S. operations. Lindsay has over 20 years of experience in the information technology field. Her background includes 14 years of managing and selling integration services to the healthcare, financial, utilities and retail industries. She will head up the new six-person unit responsible for marketing MDI software products in the United States as well as expanding the division's existing business.
Peter Hamilton, president of ActiveCore, said, "We are excited about acquiring this group of professionals who will facilitate the sale of our software products to an existing healthcare client base in the U.S. The new division will operate under the MDI Solutions Group umbrella and will give MDI an immediate presence in 12 states ranging from Hawaii to Florida with 18 active service contracts."
Brian MacDonald, chairman and CEO of ActiveCore, said, "We expect this operation to initially generate about $1 million in annual revenue. In addition, the acquisition provides us with a solid prospective customer base for our healthcare-specific software products. With this solid foothold in the U.S. healthcare market, we are confident we can rapidly grow organically from our new base."
"I look forward to further work with ActiveCore as they take over the reins of the Integration Services Division," said Tom Rohrer, executive vice president of SCI Healthcare. "The combination of obtaining additional trained staff from Canada and the products represented by MDI and ActiveCore will allow the division to grow its revenues and profitability over the next few months."
About SCI Healthcare Group, Inc.
SCI Healthcare Group is a leading provider of information technology professional services for the healthcare industry. Since its inception in 1994, the company has been a leader in providing quality IT professional solutions to the healthcare environment. Areas of specialization include IT for all McKesson product lines and document imaging. SCI also has created and markets a consolidated statement software billing solution for hospitals. The privately held company is headquartered in Toledo, Ohio. For more information go to www.scihg.com.