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NTST Netsmart Technologies (MM)

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Share Name Share Symbol Market Type
Netsmart Technologies (MM) NASDAQ:NTST NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Netsmart Technologies Moving to Long Island Business and Technology Center

13/11/2003 4:50pm

PR Newswire (US)


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/

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