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News, Links, and Reference Boston, September 8, 2000
Keane Acquires CARE Computer Systems
Keane Attains Dominant Position within Rapidly Growing Long-Term Care Software Industry.Leading e-business and information technology (IT) consulting firm Keane, Inc. (AMEX:KEA) today announced it has acquired Care Computer Systems, Inc., a leading provider of software solutions for the long-term care industry, based in Bellevue, Wash. Those operations will be combined with Keane’s Healthcare Solutions Division (HSD), establishing Keane as the dominant provider to the long-term care industry with a 26% market share in the United States. The acquisition was completed on September 7, 2000. Financial terms of the transaction were not disclosed. "The combination of Keane’s best-of-breed financial applications for long-term care facilities and Care’s industry leading clinical applications, establishes Keane as the clear market leader with a comprehensive solution for our customers,” said Raymond W. Paris, senior vice president, Keane Healthcare Solutions Division. “In addition, this combination now positions us to launch a complete ASP solution for long-term care facilities which will enable Keane to offer flexible solutions to meet the unique business needs of its customers," he said. Care Computer Systems develops, markets, and supports a range of clinical and financial software for long-term care facilities such as skilled nursing facilities, sub-acute facilities, residential care facilities, assisted living centers, and rehabilitation facilities. Established in 1969, the privately held company is based in Bellevue, Wash., and has approximately 3,200 software installations throughout the United States. The company’s Microsoft Windows-based clinical products are regarded as the leading solution for long-term care facilities. The long-term care industry is a direct beneficiary of the changing demographics in the United States with the aging of the population. About Keane A leader in healthcare information systems and services since 1975, Keane’s Healthcare Solutions Division (HSD) helps overcome the twofold challenge of providing higher quality patient care while administering more efficient operations through the use of information technology. Keane HSD provides a complete line of Patient Management, Financial Management, Managed Care, Clinical, Long-Term Care, and Practice Management systems to the healthcare community. Keane’s long-term care products are recognized as the leading financial applications for the industry and are used by many of the largest post acute organizations in the country. Headquartered in Boston, Massachusetts, Keane, Inc. is a $1 billion firm that helps companies and government agencies plan, build, and manage application software to achieve business advantage. Keane does this by adhering to rigorous process and management disciplines and performance metrics incorporated in its core IT solutions. Keane's services include Business Innovation Consulting, Digital Strategy, e-Solutions, Customer Relationship Management (CRM), and Application Development and Maintenance (ADM) outsourcing. Information about Keane is available via www.keane.com or 1-800-75-KEANE. This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the future benefits Keane expects to derive as a result of the acquisition of Care Computer Systems. There are a number of factors that could cause actual results to differ materially from those indicated. Such factors include, without limitation, Keane's success in integrating Care Computer Systems into its own operations, and the various factors set forth under the caption "Certain Factors That May Affect Future Results" in Keane's annual report or Form 10-K for the year ended December 31, 1999, which important factors are incorporated herein by reference. |
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