VisualMED Clinical Solutions Corp.
OTC Bulletin Board : VMCS

VisualMED Clinical Solutions Corp.

October 30, 2006 08:01 ET

VisualMED to License Technology to Leading French Software Company in a Deal Worth Up to $5.4 Million

Bids for Multi Billion Government Initiative will Incorporate VisualMED Adapted Technology

MONTREAL, QUEBEC--(CCNMatthews - Oct. 30, 2006) - VisualMED Clinical Solutions Corp. (the "Company") (OTCBB:VMCS) is pleased to announce a technology licensing agreement with Post Logic of Paris, France, a leading French software contractor in the fields of imaging and connectivity. Post logic will adapt selected VisualMED modules to be included in a connectivity offering to the French healthcare administration. Post Logic intends to bid for tenders from the French Government's multi-billion dollar initiatives to create a universal electronic medical record for all French citizens.

"Post Logic is ideally positioned to play a central role in responding to the government call to provide new and unprecedented ways to access one's own healthcare records, on line, remotely, in total security, and at all times," says Gerard Bonnet, President and CEO of Post Logic.

Post Logic believes that VisualMED components and support can help them win key parts of this French government project to create a national electronic patient database accessible to all French citizens over the internet. In the initial phase, Post Logic will pay VisualMED for consulting work that will be executed over the coming six months. The next phase will see VisualMED adapt modules for Post Logic connectivity business in France. The entire agreement could be worth as much as $5.4 million to VisualMED. Phase I begins immediately and will pay $1.3 million in Q3 and Q4 of current fiscal year 2007. Phase II and subsequent phases are expected to bring in another $2.1 million in fiscal 2008.

"The fact that our components already exist in French language played a role in concluding this agreement," says VisualMED Chairman Gerard Dab. "In fact this deal is due in part to a new business cooperation between the cities of Montreal and Paris which have together created a Bio-Tech corridor to promote new business. We benefited directly from the personal attention of the mayor of Montreal, Mr. Gerald Tremblay, in this matter."

The VisualMED Clinical Information System comprises many modules, and much of the basic information retrieval technology, that will complete the Post Logic offering, whose web-based internet imaging treatment capability is expected to help them win a number of tenders.

The national electronic health record initiative is being mandated by a law passed by the French parliament in 2004 under the leadership of then health minister Philippe Douste-Blazy, a senior French politician who is now serving as foreign affairs minister in the same government. The government of France has set aside large funding for the project, and Post Logic is ideally positioned to play a central role in the provision of new and unprecedented ways to afford the public access to its own healthcare records, remotely, in total security, and at all times. More information on the French Universal patient record can be found on the following government official website: http://www.d-m-p.org

During the first phase, VisualMED will provide a detailed blueprint laying out a comprehensive mapping of the functionalities of those key elements of the VisualMED technology that will be critical to the French initiative. Once this phase is completed in early 2007 there will be a series of subsequent phases dealing with French clinical standards and data repository pilot projects through 2007 and 2008. During phase two of the agreement, Post Logic will build an interactive services centre to act as a connectivity hub to be established in the Biotechnology Corridor in Paris.

Concludes Gerard Dab: "This agreement is another example where we can license part of our technology to companies active in other sectors of the healthcare industry. Armed with our latest generation information retrieval, distribution, and security protocols, Post Logic will likely secure a share of the large budget the French will have to spend to comply with their new law."

About Post Logic

Post Logic, a private French company, is a distributor of post production and imaging solutions to the French private and public broadcast industry and film production with a range of cutting edge technology product lines that have helped the company win and hold a dominant share of its markets. It has recently begin to expand its expertise into the medical imaging market. More information can be found at http://www.com-media.fr/.

About VisualMED

Clinical Solutions Corp. is a leading provider of clinical informatics solutions that help hospitals and healthcare authorities reduce medication errors, increase personnel efficiency and bring down operating costs. One of its key components, a fully integrated Clinical Information System with decision support, is a core solution in the new agenda to promote greater patient safety and reduce the morbidity and mortality associated with medication error. The company is involved in major government initiatives on three continents to modernize hospitals and healthcare delivery.

Detailed information on our company and its products is available on our web site at www.visualmedsolutions.com.

Forward-Looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

Contact Information

  • Source:
    VisualMED Clinical Solutions
    or
    VisualMED Clinical Solutions Corp.
    Barry Scharf, COO
    514-274-1115, Ext.108
    www.visualmedsolutions.com