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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) - August 31, 1998
MEDICAL MANAGER CORPORATION
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-29090 59-3396629
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(State or Other Jurisdiction (Commission (IRS Employer of
of Incorporation) File Number) Identification No.)
3001 North Rocky Point Drive East, Suite 400, Tampa, Florida 33607
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(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code) (813) 287-2990
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Not Applicable
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(Former Name or Former Address; if Changed Since Last Report)
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Item 5. Other Events.
This Current Report on Form 8-K is being filed for the sole purpose of
reporting the press release attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
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Exhibit 99 Press Release dated
August 31, 1998
2
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MEDICAL MANAGER CORPORATION
August 31, 1998 By: /s/ Lee A. Robbins
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Lee A. Robbins
Vice President and
Chief Financial Officer
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EXHIBIT 99
CONTACT:
Medical Manager Corporation
Lee Robbins
Chief Financial Officer
(813) 287-2990, ext. 119
MEDICAL MANAGER CORPORATION ANNOUNCES
EXPANDED YEAR 2000 POLICY
TAMPA, Fla. (August 31, 1998) - Medical Manager Corporation (Nasdaq: MMGR)
announced today that it is developing and has begun in-house testing of a patch
that would allow its previous version, Version 8, first released in November
1993, to handle the date change to the new century. The Company believes that
this patch will be available for general distribution to its independent sales
offices and its installed base prior to the end of calendar year 1998. The
current release of The Medical Manager(R) software, Version 9, first released in
November 1997, is Year 2000 compliant and will remain the only enhanced and
maintained version of the software.
"Desired features, regulatory changes and three years of development on
requested enhancements have created a tremendous demand for Version 9," said
Michael Singer, chairman and chief executive officer of Medical Manager
Corporation. "The sheer number of sites that must be converted prior to the new
century has led us to this expansion of our Year 2000 solution. Our number one
priority is the service of our clients, especially to help them be prepared for
the new century."
"The patch is merely intended to allow Version 8 the ability to handle the date
change to the new century," said John Kang, president of Medical Manager
Corporation. "We strongly encourage all users to upgrade to Version 9 as soon as
possible in order to take advantage of the many new features, as well as be in a
position to keep up with changes in the industry's electronic data interchange
(EDI), regulatory billing, and rapidly expanding clinical data processing
requirements."
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Medical Manager Corporation's formal Year 2000 Statement follows.
Medical Manager Corporation Year 2000 Statement
Version 9 of The Medical Manager software, which was released by Medical Manager
Corporation (the "Company") in November of 1997, is Year 2000 compliant and
contains numerous other new features and enhancements. In addition, Version 9 is
the only version of the Company's software that is intended to take into account
current industry and regulatory requirements. The Company continues its
historical practice by encouraging its entire installed base to migrate to
Version 9, which is the only maintained and actively enhanced version of The
Medical Manager software.
The Company is developing and has begun in-house testing of a patch (the "Y2K
Patch") for The Medical Manager software Version 8, which was first released in
November of 1993. The Y2K Patch is intended to allow this older version to
handle the date change to the new century. The Y2K Patch is intended only to
address the Year 2000 issue and, in all other respects, Version 8 will operate
substantially the same as prior to the Y2K Patch without any of the new features
and enhancements introduced in Version 9. The Company is no longer enhancing,
updating or maintaining versions prior to Version 9 and, therefore, the Company
will make no representations with respect thereto, including those concerning
the current or future ability of Version 8 or any prior versions to handle
industry and regulatory requirements. The Company believes that the Y2K Patch
will be available for general distribution to its independent sales offices and
its installed base prior to the end of calendar year 1998. Alternatively, in
order to achieve Year 2000 compliance and to obtain the additional benefits of
Version 9, users of Version 8 may purchase an upgrade to Version 9 that includes
a data conversion program.
All versions prior to Version 8 have previously been retired by the Company. In
order to achieve Year 2000 compliance and to obtain the additional benefits of
Version 9, users of these older versions may purchase an upgrade to Version 9
which includes a data conversion program.
Cautionary Note Regarding Forward Looking Statements and Other Matters
Certain of the foregoing statements, including but not limited to those relating
to the Y2K Patch, are forward-looking statements within the meaning of the
Securities
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Exchange Act of 1934, as amended (the "Exchange Act"). These statements are
based on current plans and expectations of the Company and involve risks and
uncertainties that could cause actual future activities and results to be
materially different from those set forth in the forward-looking statements.
Important factors that could cause actual results to differ include, among
others, the following: (i) the Y2K Patch is currently under development and, as
with any software development project, there is no assurance that the Y2K Patch
will ultimately be successfully developed, tested and released; (ii) there may
be delays in the development, testing and release of the Y2K Patch because of
factors which may or may not be within the control of the Company, including,
without limitation, acts of nature, labor disputes and technological obstacles;
(iii) the Y2K Patch, even if successfully implemented, will not contain an eight
digit date field for input and data storage, but will utilize the "century
inferencing" programming logic; (iv) there is no assurance that Version 8, with
or without the Y2K Patch, will continue to be viable because of other non-Year
2000 issues or that the Y2K Patch will not create additional issues for users of
the software including, but not limited to, additional costs for upgraded
hardware, new operating systems and personnel training; (v) the users may
encounter difficulties with changes in the requirements for electronic data
interchange, including electronic media claims; (vi) many of the users will not
be able to load the Y2K Patch without the assistance of a trained systems
analyst, and users of Version 8.0 will need the assistance of a trained systems
analyst to perform a conversion of their data to the Version 8.11 format, and
there is no assurance that these services will be available; (vii) many users of
Version 8 may utilize hardware or operating systems which fail to operate beyond
the turn of the century notwithstanding the installation of the Y2K Patch;
(viii) while the Company intends not to provide any warranties with respect to
the Y2K Patch, there can be no assurance that warranties will not apply to the
Y2K Patch; and (ix) changes in industry and regulatory requirements could
adversely affect the utilization of Version 8 notwithstanding the use of the Y2K
Patch. Forward-looking information provided by the Company under the Exchange
Act should be evaluated in the context of the foregoing factors and the risk
factors described in the Company's filings with the Securities and Exchange
Commission.
While the Company does not believe costs incurred by the Company to develop,
test, distribute and install the Y2K Patch will be material, there can be no
assurance that such costs will not have a material adverse effect on the
Company's financial condition or results of operations. Additionally, while the
Company believes that the items discussed above will provide its installed base
with the means to handle
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the date change to the next century, there can be no assurance that this will
resolve the existing litigation involving the Company and Year 2000 issues.
Further, there can be no assurance that the existence of the Y2K Patch will not
delay or reduce the migration of users to Version 9 from earlier versions.
Medical Manager Corporation develops, markets, implements and supports The
Medical Manager physician practice management system, which addresses the
financial, administrative, clinical and practice management needs of physicians.
Since its development in 1982, The Medical Manager software has grown to become
the most widely installed physician practice management system in the United
States. Further information about The Medical Manager software is available
on-line at http://WWW.MEDICALMANAGER.COM.
