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Carilion Health System to Implement CPSI System in Community Hospitals

Posted on: Thursday, 21 July 2005, 18:00 CDT

Computer Programs and Systems, Inc. (NASDAQ/NM:CPSI) and Carilion Health System announced today that in June they entered an agreement to implement the CPSI system in Carilion's community hospitals.

Over the next three years, the agreement calls for Carilion to install the system in six facilities. Stonewall Jackson Hospital, located in Lexington, VA, will be the first Carilion facility to implement the CPSI system. The hospital will install the complete suite of CPSI's integrated patient accounting, health information management and clinical software solutions in October of this year.

Commenting on the selection of CPSI for its community hospitals, Greg Walton, senior vice president and CIO for Carilion Health System, stated, "We are very pleased with the product vision CPSI has developed for community hospitals as well as their service model and track record. We believe their solutions will be an excellent fit for our community hospitals and our total organization."

According to David Dye, chief executive officer and president of CPSI, "CPSI is excited about the opportunity to partner with Carilion Health System to facilitate their need for an integrated information technology solution for their community hospitals. Carilion has a long and successful history of aggressive use of information technology to improve patient care and hospital productivity. Through the use of the CPSI clinical applications in Carilion's community hospitals, we look forward to playing a significant role in Carilion's system-wide electronic patient record."

About Carilion Health System

Carilion Health System is Western Virginia's Medical Center, serving almost 1 million Virginians, who overwhelmingly choose Carilion for their care, and thousands of others who travel from surrounding states to be treated by specialists in areas such as cardiology, neurosurgery, orthopedics, emergency medicine, neonatology and imaging. The Carilion system is anchored by Carilion Roanoke Memorial Hospital, a 628-bed medical center, teaching hospital and Level 1 Trauma Center. High-tech, community-based care is also provided at six community hospitals throughout the region. With more than 800 affiliated physicians, including the teaching faculty of the University of Virginia School of Medicine's residency program, Carilion has the expertise to meet the region's most advanced healthcare needs.

About Computer Programs and Systems, Inc.

CPSI is a leading provider of healthcare information solutions for community hospitals with over 500 client hospitals in 45 states. Founded in 1979, the Company is a single-source vendor providing comprehensive software and hardware products, complemented by complete installation services and extensive support. Its fully integrated, enterprise-wide system automates clinical and financial data management in each of the primary functional areas of a hospital. CPSI's staff of over 800 technical, healthcare and medical professionals provides system implementation and continuing support services as part of a comprehensive program designed to respond to clients' information needs in a constantly changing healthcare environment. For more information, visit www.cpsinet.com.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as "expects,""anticipates,""estimates,""believes,""predicts,""intends,""plans,""potential,""may,""continue,""should,""will" and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and future financial results are forward-looking statements. We caution investors that any such forward-looking statements are only predictions and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause actual results to differ materially from those projected in the forward-looking statements. Such factors may include: overall business and economic conditions affecting the healthcare industry; saturation of our target market and hospital consolidations; changes in customer purchasing priorities and demand for information technology systems; competition with companies that have greater financial, technical and marketing resources than we have; failure to develop new technology and products in response to market demands; fluctuations in quarterly financial performance due to, among other factors, timing of customer installations; failure of our products to function properly resulting in claims for medical losses; government regulation of our products and customers; interruptions in our power supply and/or telecommunications capabilities and other risk factors described from time to time in our public releases and reports filed with the Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K. We also caution investors that the forward-looking information described herein represents our outlook only as of this date, and we undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this press release.

Source: Business Wire

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