Netsmart (NASDAQ:NTST)
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Netsmart Technologies Signs Six Contracts With North Carolina
Payors and Providers With Combined Value of $1.36 Million
Netsmart is moving forward with its plan to implement its integrated solutions
for evolving North Carolina Managed Care Requirements
GREAT RIVER, N.Y., June 16 /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 Creative has been awarded
six contracts with a total value of $1.36 million for Local Management Entities
(LME's) and providers for mental health services in North Carolina. These
contracts are with Crossroads Mental Health, Sandhills Mental Health, Tidelands
Mental Health, Albermarle Mental Health, and Eastpoint Mental Health LME's and
Port Human Services. The contracts cover licensing, services and maintenance
of Creative's Avatar and value-add web-based ASP products in a multi-tiered
delivery environment with services that are to be performed over a multi-year
period.
Creative's CEO, Jerry Koop stated: "Creative's purchase of the web-based
CareNet managed care product was instrumental in meeting the requirements of
each LME and its contract providers in North Carolina. Up to this point,
CareNet was only used in Michigan. This further amplifies our corporate
strategy of providing a full complement of software solutions for the health
and human services industry through internal development and acquisitions."
The five LME's under contract represent more than 20 percent of the counties in
the State. Each LME is responsible for authorizing treatment, monitoring
outcomes, and billing State governed funds, including Medicaid through an
Integrated Payment and Reporting System. Creative's HIPAA compliant integrated
Avatar MSO and CareNet solution is designed to enable the LME to seamlessly
communicate with its contract provider network, manage enrollments,
authorizations, and complete the claims process.
Port Human Services is a new entity that will be providing substance abuse
services to local LME's.
James Conway, CEO of Netsmart, said: "The expansion of our traditional and new
product lines in the North Carolina marketplace is expected to allow us to be
more aggressive in capitalizing on the balance of the prospects within the
state. The value of the CareNet acquisition is proving itself over and over
again."
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 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,
Web site: http://www.netsmartech.com/