ATLANTA, Dec. 1, 2016 /PRNewswire/
-- Streamline Health Solutions, Inc. (NASDAQ: STRM),
provider of the Looking Glass® platform of integrated
solutions, technology-enabled services and analytics supporting
revenue cycle optimization for healthcare enterprises in the new
value-based world, today announced the sale of its Looking
Glass® Patient Engagement suite of solutions to Document
Storage Systems, Inc. (DSS), located in Juno Beach,
Florida. DSS specializes in the integration, development and
innovation of healthcare technology to promote interoperable
information exchange throughout the industry.
Streamline Health's Looking Glass® Patient Engagement
suite consists primarily of Patient Scheduling and Surgery
Management software. This suite of products is based upon the
legacy ForSite2020 solution, which Streamline Health acquired in
connection with its acquisition of Unibased Systems Architecture,
Inc. (USA, Inc.), in February,
2014. The company plans to discuss specifics of the
transaction and will update any potential impact during its Third
Quarter earnings call on Wednesday, December
7, 2016.
"As we sharpen our focus on delivering integrated solutions and
analytics services supporting revenue cycle optimization, we
recognized a company like DSS could better leverage our patient
engagement solutions when compared with our go forward strategy,"
stated David Sides, President and
Chief Executive Officer, Streamline Health. "We've worked with
DSS for a number of years and felt they were the right strategic
buyer. These award-winning solutions are supported by a team of
dedicated professionals we've been proud to call colleagues here at
Streamline Health."
Streamline Health received $2
million from DSS in the transaction.
About Streamline Health
Streamline Health Solutions, Inc. (NASDAQ: STRM) is a
healthcare industry leader in capturing, aggregating, and
translating enterprise data into knowledge—delivering actionable
insights that support revenue cycle optimization for healthcare
enterprises. Our Looking Glass platform delivers integrated
solutions, technology-enabled services and analytics that enable
providers to drive reimbursement in a value-based world. We share a
common calling and commitment to advance the quality of life and
the quality of healthcare—for society, our clients, the communities
they serve, and the individual patient. For more information,
please visit our website at www.streamlinehealth.net.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995
Statements made by Streamline Health
Solutions, Inc. (the "Company") that are not historical facts are
forward-looking statements that are subject to certain risks,
uncertainties and important factors that could cause actual results
to differ materially from those reflected in the forward-looking
statements included herein. Forward-looking statements contained in
this press release include, without limitation, statements
regarding the Company's expectations regarding its core business
and strategies. These risks and uncertainties include, but are not
limited to, the failure of the Company to realize any operational
and costs savings associated with the sale of any assets or similar
such divestitures as well as the opportunities associated with
the Company's business, including the timing of
contract negotiations and execution of contracts and the related
timing of the revenue recognition related thereto, the potential
cancellation of existing contracts or clients not completing
projects included in the backlog, the impact of competitive
solutions and pricing, solution demand and market acceptance, new
solution development and enhancement of current solutions, key
strategic alliances with vendors and channel partners that resell
the Company's solutions, the ability of the Company to control
costs, availability of solutions from third party vendors, the
healthcare regulatory environment, potential changes in
legislation, regulation and government funding affecting the
healthcare industry, healthcare information systems budgets,
availability of healthcare information systems trained personnel
for implementation of new systems, as well as maintenance of legacy
systems, fluctuations in operating results, effects of critical
accounting policies and judgments, changes in accounting policies
or procedures as may be required by the Financial Accounting
Standards Board or other similar entities, changes in economic,
business and market conditions impacting the healthcare industry
generally and the markets in which the Company operates and
nationally, and the Company's ability to maintain compliance with
the terms of its credit facilities, and other risks detailed from
time to time in the Streamline Health Solutions, Inc. filings with
the U. S. Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which reflect management's analysis only as of the date hereof. The
Company undertakes no obligation to publicly release the results of
any revision to these forward-looking statements, which may be made
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, except as required
by law.
Company Contact:
Randy
Salisbury
SVP, Chief Marketing Officer
(404) 229-4242
randy.salisbury@streamlinehealth.net
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SOURCE Streamline Health, Inc.