NTST Netsmart Technologies (MM)

Netsmart Technologies Signs Six Contracts With North Carolina Payors and Providers With Combined Value of $1.36 Million Netsmart is moving forward with its plan to implement its integrated solutions for evolving North Carolina Managed Care Requirements GREAT RIVER, N.Y., June 16 /PRNewswire-FirstCall/ -- Netsmart Technologies, Inc. (NASDAQ:NTST), a leading supplier of enterprise-wide software for health and human services providers through its wholly-owned subsidiary, Creative Socio-Medics Corp. (Creative), today announced that Creative has been awarded six contracts with a total value of $1.36 million for Local Management Entities (LME's) and providers for mental health services in North Carolina. These contracts are with Crossroads Mental Health, Sandhills Mental Health, Tidelands Mental Health, Albermarle Mental Health, and Eastpoint Mental Health LME's and Port Human Services. The contracts cover licensing, services and maintenance of Creative's Avatar and value-add web-based ASP products in a multi-tiered delivery environment with services that are to be performed over a multi-year period. Creative's CEO, Jerry Koop stated: "Creative's purchase of the web-based CareNet managed care product was instrumental in meeting the requirements of each LME and its contract providers in North Carolina. Up to this point, CareNet was only used in Michigan. This further amplifies our corporate strategy of providing a full complement of software solutions for the health and human services industry through internal development and acquisitions." The five LME's under contract represent more than 20 percent of the counties in the State. Each LME is responsible for authorizing treatment, monitoring outcomes, and billing State governed funds, including Medicaid through an Integrated Payment and Reporting System. Creative's HIPAA compliant integrated Avatar MSO and CareNet solution is designed to enable the LME to seamlessly communicate with its contract provider network, manage enrollments, authorizations, and complete the claims process. Port Human Services is a new entity that will be providing substance abuse services to local LME's. James Conway, CEO of Netsmart, said: "The expansion of our traditional and new product lines in the North Carolina marketplace is expected to allow us to be more aggressive in capitalizing on the balance of the prospects within the state. The value of the CareNet acquisition is proving itself over and over again." About Netsmart Technologies, Inc. Netsmart Technologies, Inc. of Great River, NY, through Creative Socio- Medics, is an established, leading supplier of enterprise-wide software solutions for health and human services providers with over 580 clients, including 26 systems with state agencies. Creative's clients include health and human services organizations: public health agencies, mental health and substance abuse clinics, psychiatric hospitals, and managed care organizations. Avatar Practice Management and the Avatar Clinician Work Station, Creative's core products, are full-featured information systems that operate on a variety of operating systems, hardware platforms, and mobile devices and offer unlimited scalability. Statement on Behalf of Netsmart Technologies, Inc. Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Netsmart's filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates, and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Netsmart's or Creative's website do not constitute a part of this release. DATASOURCE: Netsmart Technologies, Inc. CONTACT: Ron Marge of Netsmart Technologies, Inc., 1-800-421-7503, Ext. 2026, , or Stuart Fine of Carpe DM, Inc., +1-908-490-0075, Web site: http://www.netsmartech.com/

Copyright