Netsmart (NASDAQ:NTST)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Netsmart Charts. Click Here for more Netsmart Charts.](/p.php?pid=staticchart&s=N%5ENTST&p=8&t=15)
Netsmart Technologies Acquires ContinuedLearning
Netsmart Will Now Offer Online Learning to its Base of More Than 600 Customers
GREAT RIVER, N.Y., April 28 /PRNewswire-FirstCall/ -- Netsmart Technologies,
Inc. (NASDAQ:NTST), a leading supplier of enterprise-wide software for health
and human services providers through its wholly owned subsidiary, Creative
Socio-Medics Corp. (Creative), today announced that it has acquired certain of
the assets of ContinuedLearning, LLC of St. Petersburg, Florida for $250,000 in
cash, 20,000 shares of Netsmart common stock and potential additional payments
of up to $550,000 if certain targets are met. Creative has agreed to provide
working capital to the acquired business to help it achieve its business plan
targets. ContinuedLearning is a leading e-learning vendor in the field of
behavioral healthcare and human services.
James Conway, CEO of Netsmart and Chairman of Creative said, "We are excited
about the ContinuedLearning acquisition and believe that we have added a
complementary product to our offerings that provides value for the markets we
serve." Mr. Conway continued, "In our industry, workforce development and
training opportunities are essential to the success of an organization and its
employees. Our customers will now receive the tools and knowledge necessary to
contribute to the growth and success of their organizations."
ContinuedLearning offers a comprehensive family of web-based training products
and services including its Learning Management System, a robust multi-media
online course catalog. With provider organizations, behavioral professional
associations, employee assistance programs and managed care companies as
clients, ContinuedLearning's online training is focused on offering regulatory,
clinical, direct service and administrative training.
Creative intends to leverage the capabilities of ContinuedLearning's learning
management system products and services by offering these products to its
existing customer base of over 600 human service providers nationwide. Creative
also plans to use the online course-building and online training deployment
capabilities that ContinuedLearning offers to develop its own "next generation"
of online training products for its health and human service customers.
Sheree Graves, president of ContinuedLearning, said, "Online training is one of
the fastest growing product areas on the Internet because it simply costs less
than traditional training. E-learning also saves time without decaying
learning benefits." She continued, "The value of this new relationship will
positively impact health and human services providers by combining
ContinuedLearning's electronic learning expertise and Creative's market
presence and financial strength. We expect to increase training content
production to meet the growing demands for training in this industry."
About Netsmart Technologies, Inc.
Netsmart Technologies, Inc. of Great River, NY, through Creative Socio-Medics,
is an established, leading supplier of enterprise-wide software solutions for
health and human services providers with over 600 clients, including 26 systems
with state agencies. Creative's clients include health and human services
organizations: public health agencies, mental health and substance abuse
clinics, psychiatric hospitals, and managed care organizations. Avatar Practice
Management and the Avatar Clinician Work Station, Creative's core products, are
full-featured information systems that operate on a variety of operating
systems, hardware platforms, and mobile devices and offer unlimited
scalability.
Statement on Behalf of Netsmart Technologies, Inc.
Statements in this press release may be "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the company or its management, identify
forward-looking statements. These statements are based on current expectations,
estimates and projections about the company's business based, in part, on
assumptions made by management. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are difficult
to predict. Therefore, actual outcomes and results may, and probably will,
differ materially from what is expressed or forecasted in such forward-looking
statements due to numerous factors, including those described above and those
risks discussed from time to time in Netsmart's filings with the Securities and
Exchange Commission. In addition, such statements could be affected by risks
and uncertainties related to product demand, market and customer acceptance,
competition, pricing and development difficulties, as well as general industry
and market conditions and growth rates, and general economic conditions. Any
forward-looking statements speak only as of the date on which they are made,
and the company does not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this release.
Information on Netsmart's or Creative's website do not constitute a part of
this release.
DATASOURCE: Netsmart Technologies, Inc.
CONTACT: Ron Marge of Netsmart Technologies, +1-800-421-7503, ext. 2026,
; Stuart Fine of Carpe DM, Inc., +1-908-490-0075,
, for Netsmart Technologies, Inc.
Web site: http://www.netsmartech.com/