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EXHIBIT 99.1
Contact: Karen Miller
Vice President Finance & CFO
(703) 847-1400, ext 131
APACHE Medical Systems, Inc. in Receipt of Nasdaq Notice
Regarding Trading Price of its Common Stock
McLEAN, VA - December 29, 2000 - APACHE Medical Systems, Inc. (NASDAQ: AMSI)
today announced that it has received notification from The Nasdaq Stock Market
that the Company has been trading below the minimum bid price of $1.00 for 30
consecutive trading days and that its common stock is therefore subject to
delisting from The Nasdaq National/SmallCap Market.
The Company has requested a hearing before a Nasdaq Listing Qualifications Panel
("Panel") to review the Staff Determination. There can be no assurance the Panel
will grant the Company's request for continued listing.
In early December, APACHE said it was continuing to pursue a variety of
strategic alternatives along with its financial advisor, Allen & Company
Incorporated. The Company is exploring new strategic directions including
building on APACHE's strong clinical foundation in order to provide additional
services to hospitals based on the Company's historical strength in data
management. The Company has reconstituted its Board of Directors and has also
expanded its restructuring plan to bring expenses more in line with revenues
with the intent of putting APACHE on the path to future profitability.
APACHE Medical Systems, Inc. -- a recognized leader in clinical decision
support/outcomes management systems and consulting services for the care of
high-risk patients--provides products and services that enable health systems,
hospitals and providers to apply an evidence-based approach to achieve clinical
performance excellence, reduce cost and compete effectively under managed care.
APACHE is helping providers better manage the clinical, financial and patient
outcomes of high-risk, high-cost patients in critical, acute, cardiovascular and
HIV/AIDS care. APACHE provides advanced clinical data collection tools, registry
management and analytic services for federal government research, as well as in
support of clinical trial design and product-effectiveness evaluations for the
pharmaceutical and medical device industries.
APACHE (www.apache-msi.com) is headquartered in Northern Virginia.
Statements in this press release which are not historical facts are
forward-looking statements under provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be recognized by the use of
words such as "anticipate,"
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"believe," "expect," "intend" and "estimate" or similar language. All
forward-looking statements involve risks and uncertainties. The Company wishes
to caution readers that the following important factors, among others, in some
cases have affected, and in the future could affect, the Company's actual
results and could cause its actual results in fiscal 2000 and beyond to differ
materially from those expressed in any forward-looking statements made by, or on
behalf of the Company.
Important factors that could cause actual results to differ materially include
but are not limited to the Company's having sufficient sales and timely
collections to meet cash requirements and achieve profitability; ability to
attract and retain key employees; success of its strategy to concentrate its
product offerings on high-risk, high-cost patients; ability to timely develop
new products and enhance existing products; ability to compete in the
competitive and rapidly evolving healthcare information technology industry;
success of its marketing and consulting efforts and ability to effectively
utilize its direct sales force; ability to protect proprietary information and
to obtain necessary licenses on commercially reasonable terms; and ability to
comply with and adopt products and services to potential regulatory changes.
All forward looking statements in this press release are made as of the date of
the release and are based on information available to the Company's management
as of the date of the release. The Company undertakes no obligation to update
any statement in this release to reflect information that becomes available to
the Company after the date of this release.
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