Ostara Corporation Contracted To Develop Advanced Adverse Drug Event Software [DWCDJSG]
Business Editors/High-Tech Writers/Health/Medical Writers
WERNERSVILLE, Pa.--(BUSINESS WIRE)--Jan. 31, 2005--Ostara Corporation (OTC:OTRC) is pleased to announce that the Company has been contracted by a major healthcare provider ("Client") to develop the most advanced adverse drug event (ADE) software currently available to the industry. The Client is a health care and health plan insurance provider with 21 hospitals in addition to dozens of health center clinics and instacare emergency stand alone facilities. The client currently serves millions of patients a year and employs over 25,000 healthcare workers.
The much needed product will be a reporting and verification software solution. It will have the ability to extract potential ADEs from the existing enterprise systems and provide a web interface allowing physicians and nurses to enter new potential ADE information. Potential ADEs will then be available for review, verification, and additions by a pharmacologist. The resulting system will allow for a determination as to whether the event is a medical error or true ADE. The software will also provide the option of sending the information to MedWatch or other ADE tracking agencies.
Ostara Corporation has agreed to build this solution using its proprietary Draagon Meta Objects and Draagon Framework software. Ostara will have the right to resell and distribute the product after its completion. The end product will be highly configurable by potential customers, providing for customizable fields, data displays, validations, look & feel, and more. The solution will be 100% pure Java and run in a J2EE environment. It will allow for Oracle, MS SQL Server, and other database options while providing a web-based reporting interface using Crystal Reports. The end product will provide advanced reporting and drill-down capabilities, while allowing for its own internal user management integration with MS Active Directory or other LDAP capable directories, and/or Single Sign-On for integration with existing Portals and other web frameworks.
The resulting product is anticipated to have great synergies with the hardware and software development currently underway at Ostara's PSNet Communications Inc. The ADE software will join a suite of Company products for the healthcare industry that are currently focused on efficiency, cost reduction, and advanced hardware products for physicians and medical groups.
Chad Sayers, CEO of Ostara, stated, "The ADE software is expected to mix very well with our current and anticipated offerings to the healthcare industry. As the Company progresses over the next few months I believe that Ostara will become one of the most important technology providers in that sector."
Ostara Corporation is a developer and manager of emerging technologies. The Company currently offers its software and hardware products to the international marketplace. Its offerings span various industries including, healthcare, communications, education, real estate, and wireless mobile communications, to name a few. Ostara wholly owns and primarily operates its subsidiaries, PSNet Communications Inc., Mountain Top Associates Inc., Draagon Software LLC, and soon Health One Global Ltd. and its US operations.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's operations, imprecision in estimating product reserves and the Company's ability to replace and expand its real estate and software interests. Ostara Corp. assumes no obligation to update the information contained in this press release, whether as a result of new information, future events or otherwise.
--30--RB/ph*
CONTACT: Ostara Corporation, Inc., Wernersville
Alfonso Knoll, 610-678-7900
www.OstaraCorp.com
KEYWORD: PENNSYLVANIA
INDUSTRY KEYWORD: HARDWARE PHARMACEUTICAL MEDICAL SOFTWARE NETWORKING PRODUCT MARKETING AGREEMENTS
SOURCE: Ostara Corporation, Inc.
Copyright Business Wire 2005
31Jan05 14:53 GMT
Symbols: us;OTRC
Source BW Business Wire
Categories: MST/I/CMT MST/I/CPM MST/I/DRG MST/I/MTC MST/I/SOF MST/L/EN MST/R/US/PA MST/S/PDT TGT/BWN
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