Netsmart (NASDAQ:NTST)
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Netsmart Technologies Moving to Long Island Business and Technology Center
Netsmart's Move Is Indicative of Growth and Expansion for Corporation
ISLIP, N.Y., Nov. 13 /PRNewswire-FirstCall/ -- Netsmart Technologies, Inc. , a
leading supplier of enterprise-wide software for health and human services
providers through its wholly owned subsidiary, Creative Socio-Medics (Creative),
today announced that corporate headquarters will be relocating by December 2003
to the Long Island Business and Technology Center in Great River, NY.
James Conway, CEO of Netsmart, said, "This move to our new corporate
headquarters is a critical step in our evolution as a leading information
technology solutions provider to the health and human services marketplace." He
continued, "The space at 3500 Sunrise Highway in Great River is expected to
provide us with an ideal platform from where we can further expand our business
which includes services and infrastructure necessary in creating a community
approach with our staff."
Netsmart will join such prominent Long Island Business and Technology Center
tenants as Verizon Communications and Stony Brook University Emerging
Technologies in one of the most high-technology facility in the region. In
addition to its new headquarters, Netsmart will continue to operate regional
offices in Columbus, Ohio; Ann Arbor, MI; and San Diego, CA.
"In line with our solid growth pattern over the past five years, we have decided
to move to a larger, more technology friendly environment. After a
comprehensive search, we choose the Long Island Business and Technology Center,"
said Jerry Koop, CEO of Creative. Koop continued, "With 160 staff and climbing,
our current facility's 17,000 sq. ft. is insufficient. The Great River facility
has over 32,610 sq. ft. dedicated to Netsmart and the infrastructure has been
designed with high-technology companies in mind."
Robert B. Simonson and Arthur R. Stern of CRG Real Estate Services, LLC, an
affiliate of Cogswell Realty Group, LLC, represented the Long Island Business
and Technology Center in the negotiations. The Long Island Business and
Technology Center is a joint venture of the Rudin Family and Cogswell Realty
Group, LLC.
About Netsmart Technologies, Inc.
Netsmart Technologies, Inc. of Islip, N.Y., through its wholly-owned subsidiary
Creative Socio-Medics, is an established, leading supplier of enterprise-wide
software solutions for health and human services providers with over 580
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, Inc., 1-800-421-7503,
ext. 2026, ; or Stuart Fine of Carpe DM, Inc.,
+1-908-490-0075, , for Netsmart Technologies, Inc.
Web site: http://www.netsmartech.com/