Claimsnet to Acquire Acceptius
14 12월 2007 - 2:04AM
PR Newswire (US)
Acquisition Will Extend Product Offering to Healthcare Customers
DALLAS, Dec. 13 /PRNewswire-FirstCall/ -- Claimsnet.com (OTC:CLAI)
(BULLETIN BOARD: CLAI) , a leading provider of electronic
transaction services to the Healthcare industry, announced today
that it has entered into an agreement to acquire substantially all
the assets of Acceptius, Inc., also located in Dallas, Texas. The
agreement is subject to due diligence and is structured as an asset
purchase for stock and a minimal amount of cash. It is anticipated
that the transaction will close in early January 2008, and that
when completed will add approximately 35% to the revenue of
Claimsnet. The parties are in agreement as to the terms and
conditions. The transaction is also subject to the approval of
Acceptius shareholders, and such approval is now being obtained.
Acceptius, based in Dallas, Texas, will be a strategic addition to
Claimsnet's transaction processing suite of services for the
Healthcare industry and includes paper conversion and claims
repricing. The acquisition will extend Claimsnet's claims
processing capabilities and increase the company's client base
allowing a more complete service offering. "This will be a major
step forward for our company as it will boost our growth. We look
forward to continuing to scale that growth, both by organic and
strategic acquisition opportunities," said Don Crosbie, chief
executive officer of Claimsnet Claimsnet has had for a number of
years an existing business relationship with Acceptius and
following the anticipated completion of the transaction looks
forward to serving the combined customer base with a more complete
health care service offering. About Claimsnet.com -- Claimsnet is a
leading provider of electronic transaction services for the
healthcare industry. Headquartered in Dallas, Claimsnet offers
services that are distinguished by ease of use, customer care,
security and measurable cost advantages. More information on
Claimsnet can be found at the Company's web site at
http://www.claimsnet.com/. Safe Harbor Statement Under the Private
Securities Litigation Act 1995 -- With the exception of historical
information, the matters discussed in this press release are
forward looking statements that involve a number of risks and
uncertainties. The actual future results of the company could
differ significantly from those statements. Factors that could
cause or contribute to such differences include, but are not
limited to, maintaining access to external sources of capital,
regulatory actions, success of marketing strategies, actions of the
Company's competitors, dependence on business partners and
distribution channels, and continued use of the Internet. Further
information on the Company's risk factors is contained in the
Company's quarterly, annual, and other periodic reports as filed
with the Securities and Exchange Commission. DATASOURCE:
Claimsnet.com CONTACT: Don Crosbie of Claimsnet.com,
+1-972-458-1701, Ext. 112, Web site: http://www.claimsnet.com/
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