McKessonHBOC Completes Acquisition of Prospective Health, Inc., Leading Healthcare Software Developer
Monday, January 31, 2000 08:10 AM
PALOS HEIGHTS, Ill.--(BUSINESS WIRE)--Jan. 31, 2000--McKesson HBOC, Inc. (McKessonHBOC) (NYSE:MCK, news, msgs), the world's leading supply management and healthcare information technology company, announced today that is has completed its acquisition of Palos Heights, Illinois-based Prospective Health, Inc., a privately held developer of integrated software solutions for the healthcare industry. Financial terms of the full acquisition were not disclosed.
The company made an initial investment in the company in 1995 when PHI was selected to provide software for McKessonHBOC's OmniLink(R) pre- and post-adjudication system for third-party prescriptions.
PHI will operate as a separate company under the direction of Tom George, President of McKessonHBOC's Customer Technology Group. Michael Gremillion and David D'Altorio continue to serve as PHI's Executive Vice President and General Manager, and Senior Vice President of Sales and Marketing respectively.
"Over the past four years, as OmniLink expanded to include a wide range of independent and chain pharmacies we recognized the strategic value of PHI to our Supply Management Business," commented Tom George. "PHI provides healthcare management software to customers in a wide range of benefits management areas including vision, dental and prescription medications, as well as communications networks and data warehousing. With existing software products and a solid customer base in these industry segments, PHI is expected to be a key player in the emerging e-health initiative," he added, "and we took the necessary steps to make PHI and integral part of McKessonHBOC."
McKessonHBOC, Inc., a Fortune 100 corporation, provides pharmaceutical supply management and healthcare information technologies across the entire continuum of healthcare, including market-leading businesses in pharmaceutical and medical surgical distribution, information technology for health care providers, services for payors and outsourcing. McKessonHBOC is located at One Post Street, San Francisco, California, 94104. More information about McKessonHBOC is available at mckhboc.com.
Based near Chicago in Palos Heights, IL, PHI has nearly 50 employees in its offices in Palos Heights, Scottsdale, Arizona and Kansas City, Kansas, and has sales teams in Irvine and San Diego, California. Prospective Health is a leading software development company that designs, develops, consults, and installs software solutions for the healthcare industry. Designed to meet the demanding requirements of online, real-time transaction processing and relational database management, PHI systems, ProPBM(TM), ProINTERCEPT(TM), ProHEALTHi(TM) and ProDENTAL, provide centralized claim editing, adjudication and data control related to pharmacy, medical and dental transactions, and are available to the marketplace in a license or service bureau arrangement. More information about Prospective Health, Inc. is available at prospective-health.com.
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