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AMICAS, Inc. New Corporate Name; Medical Division Sold for $100M
New Ticker Symbol "AMCS"
BOSTON, Jan. 3 /PRNewswire-FirstCall/ -- VitalWorks Inc. (NASDAQ:VWKS), a
leader in radiology and diagnostic image and information technology solutions,
announced today that it has completed the sale of its medical division to
Cerner Corporation (NASDAQ:CERN) for $100 million in cash pursuant to the
definitive agreement signed on November 15, 2004. In addition, the Company
announced that it changed its name to AMICAS, Inc. effective immediately, and
its NASDAQ stock trading symbol will become "AMCS" effective Tuesday, January
4, 2005. The Company also reported that its headquarters are now based in
Boston, Massachusetts at 20 Guest Street, Suite 200, Boston, MA 02135.
With the divestiture of the medical division complete, the Company said that it
plans to intensify its focus on the radiology market. Management believes that
the Company is now in a very strong position to leverage its technology and
product suite, installed base, and implementation know-how to continue building
a world-class image and information management solution company.
The Company is targeting early February to provide year-end results. Details
will be provided as soon as possible.
About AMICAS, Inc.
AMICAS, Inc. (http://www.amicas.com/) is an industry-recognized leader and
pioneer of Web-based medical image and information management solutions. The
AMICAS Vision Series(TM) products provide a complete, end-to-end solution for
imaging centers, ambulatory care facilities and radiology practices. Acute
care and hospital clients value the acclaimed Vision Series PACS with its RIS
and HCIS independence, enterprise workflow, and scalable design. Complementing
the Vision Series product family, AMICAS Insight Services(TM) are a set of
client-centered professional and consulting services that assist our customers
with a well-planned transition to a digital enterprise.
Safe Harbor Statement
Except for the historical information herein, the matters discussed in this
release include forward-looking statements. The forward-looking statements
contained in this release include statements about future financial and
operating results. When used in this press release, the words: believes,
intends, plans, anticipates, expects, estimates, and similar expressions are
intended to identify forward-looking statements. Such forward-looking
statements are subject to a number of risks, assumptions and uncertainties
which include: the length of sales and delivery cycles; the size and timing of
orders for products and services; changes in the mix of products and/or
services sold; the deferral and/or realization of deferred software license and
system revenues according to contract terms; the timing, cost and success or
failure of new product and service introductions and product upgrade releases;
competition including product offerings, price and service; customer attrition;
uncertainties concerning threatened, pending and new litigation against the
Company including related professional services fees; changing economic,
political and regulatory conditions, particularly with respect to the
IT-spending environment; the risk that AMICAS' businesses and/or products will
not be integrated successfully; costs related to the merger with the Company's
subsidiary; compliance with all government laws, rules and regulations for all
applicable products; the inability to achieve revenues from combined lines of
products; and other risks affecting AMICAS' businesses generally and as set
forth in AMICAS' most recent filings with the Securities and Exchange
Commission. Also, management's projections for revenues and operating results
include significant sales of new product and service offerings, including the
Company's image management systems, AMICAS(R) Vision Series(TM) PACS, and
Vision Series(TM) RIS, which may not be realized. Due to these and other
factors, the Company's revenues and operating results are very difficult to
forecast. All forward-looking statements in this press release are qualified by
these cautionary statements and are made only as of the date of this press
release. AMICAS is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
DATASOURCE: VitalWorks Inc.
CONTACT: Susan Fedor of VitalWorks Inc., +1-203-894-3288,
Web site: http://www.vitalworks.com/
http://www.amicas.com/