Netsmart Technologies Announces Completion of Sale of Securities

GREAT RIVER, N.Y., Oct. 14  /PRNewswire-FirstCall/ -- Netsmart Technologies, Inc. (NASDAQ:NTSTNASDAQ:-NASDAQ:News), a leading supplier of enterprise- wide software solutions for health and human services providers announced today that, pursuant to amendments to its previously announced contracts with certain institutional investors, it has completed a private placement of units consisting of an aggregate 490,000 shares of its common stock and warrants to purchase 122,504 shares of common stock.

Netsmart has received net proceeds of approximately $4,200,000 million which proceeds will be used for working capital, including acquisitions. Griffin Securities, Inc. served as the placement agent.

About Netsmart Technologies, Inc.

Netsmart Technologies, Inc., based in Great River, N.Y., is an established, leading supplier of enterprise-wide software solutions for health and human services providers, now with over 1000 clients, including 30 systems with state agencies. Netsmart's clients include health and human services organizations, public health agencies, mental health and substance abuse clinics, psychiatric hospitals, and managed care organizations. Netsmart's 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 website does not constitute a part of this release. 

DATASOURCE: Netsmart Technologies, Inc.



CONTACT:  Anthony Grisanti of Netsmart Technologies Inc., 1-800-421-7503,

 



Web site:  http://www.netsmartech.com/

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