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EXHIBIT 99.1
NEWS RELEASE (PER-SE TECHNOLOGIES LOGO)
FOR IMMEDIATE RELEASE
PER-SE TECHNOLOGIES, INC.
2840 Mt. Wilkinson Parkway
Atlanta, Georgia 30339
877/ 73PER-SE toll free
CONTACT:
Michele Howard
Per-Se Technologies, Inc.
voice: 770/ 444-5603
e-mail: [email protected]
PER-SE TECHNOLOGIES ANNOUNCES ACQUISITION TO EXPAND POSITION IN
HOSPITAL ELECTRONIC TRANSACTION PROCESSING BUSINESS
THE PER-SE EXCHANGE IS NOW THE ONLY SINGLE SOURCE PROVIDER FOR ELECTRONIC CLAIMS
MANAGEMENT SOLUTIONS IN THE MARKETPLACE
ATLANTA - DECEMBER 11, 2000 - Per-Se Technologies, Inc. [Nasdaq: PSTI], a
leading provider of integrated business management services, enterprise software
and Internet-enabled connectivity with business intelligence for healthcare
providers, today announced the acquisition of Health Data Services, Inc. and its
affiliate company, providers of electronic claims clearing and other services
for hospitals.
The acquisition of Health Data Services almost doubles Per-Se's presence in the
electronic medical transaction processing market for hospitals and integrated
delivery networks and increases the Company's medical transaction processing
volume to 240 million on an annual basis. More importantly, the addition of
Health Data Services' suite of offerings establishes The Per-Se Exchange,
currently the third largest electronic clearinghouse for the healthcare
industry, as the only clearinghouse capable of being a single source provider of
a full suite of electronic claims management solutions, including connectivity,
back-end claims auditing and point-of-service editing. Health Data Services'
ClaimTrack, a turnkey application that allows for the real-time management of
claims at the point-of-service, provides further functionality to the Per-Se
e-Health Solution division's existing capabilities for enhancing revenue cycle
management.
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"Health Data Services expands Per-Se's footprint in the hospital electronic
transaction processing and hospital compliance auditing marketplace. Health Data
Services provides mature and rich functionality that assists hospitals and
integrated delivery networks in improving revenue cycle management and editing
of claims for payer specific edits including Medicare compliance," stated
William N. Dagher, President of Per-Se's e-Health Solutions division.
"The combination of Health Data Services and Per-Se provides an unparalleled
collection of product offerings to both companies' existing customer base. The
addition of point-of-service coding and compliance auditing that ClaimsTrack
provides enhances the functionality currently available to Per-Se's customers.
The availability of PerYourHealth.com, our web-based patient portal, and
Decision1, Per-Se's web-based business intelligence solution designed to provide
simplified financial business management and compliance data analysis, provides
functionality not previously available to Health Data Services' customers,"
stated Dagher.
"Health Data Services is a strategic addition to our e-Health Solutions
division, increasing our leadership position in electronic claims processing
with business intelligence for the healthcare industry," stated Philip M. Pead,
Per-Se's President and Chief Executive Officer. "We are very pleased that the
senior management of Health Data Services has joined Per-Se to continue the
unprecedented growth their company has experienced over the last several years."
Health Data Services, with its affiliate company Patient Account Management
Services, Inc., is a privately held company headquartered in Cleveland, Ohio
which offers fully integrated medical claims clearing as well as other services
for hospitals and integrated delivery networks. The transaction has a total
purchase price of approximately $25 million and is expected to be both accretive
to earnings and cash flow positive to Per-Se in 2001.
A conference call for securities analysts and institutional investors will be
held Tuesday, December 12, at 11:00 am eastern time to discuss the transaction.
A simultaneous, listen-only mode webcast of the call will be available on the
Company's website at www.per-se.com under the Investor News section. For those
unable to attend the live broadcast of the call, a replay will be available
shortly after completion of the call and will be archived on Per-Se's website
through Monday, December 18, 2000.
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ABOUT HEALTH DATA SERVICES
Health Data Services, with its affiliate company Patient Account Management
Services, Inc., is a privately held company headquartered in Cleveland, Ohio.
Focused primarily on the hospital and integrated delivery network marketplace,
the Company provides a fully integrated medical claims clearinghouse as well as
other services for their clients.
ABOUT PER-SE TECHNOLOGIES, INC.
Per-Se Technologies, Inc. [Nasdaq: PSTI] is a global leader in delivering
comprehensive business management services, financial and clinical software
solutions, and Internet-enabled connectivity with business intelligence and
e-health solutions. Per-Se Technologies enables integrated delivery systems and
physician practices to optimize the quality of care delivered and profitability
of business operations simultaneously. The leading provider of business
management services to physicians, Per-Se supports 35,000 physicians and 2,000
healthcare organizations. Atlanta-based Per-Se processes more than 240 million
medical transactions annually and its solutions manage 20 million patient lives
online. Additional information is available at www.per-se.com.
SAFE HARBOR STATEMENT
This Press Release contains statements that constitute forward-looking
statements within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act
of 1995. Forward-looking statements contained in this Press Release include the
intent, belief or current expectations of the Company and members of its
management team with respect to the Company's future business operations as well
as the assumptions upon which such statements are based. Forward-looking
statements include specifically, but not limited to, profitability projections,
cash flow projections, transition expense projections and the outcome of
reorganization and integration projects undertaken by the Company. Prospective
investors are cautioned that any such forward-looking statements are not
guarantees of future performance, and involve risks and uncertainties, and that
actual results may differ materially from those contemplated by such
forward-looking statements. Additional factors that would cause actual results
to differ materially from those contemplated within this Press Release can also
be found in the Company's Safe Harbor Compliance Statement included in the
Company's Form 10-Q for the quarter ended September 30, 2000. The Company
disclaims any responsibility to update any forward-looking statements.
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