Matria agrees to acquire MarketRing.(Matria Healthcare Inc.)(Brief Article)

2002 JUL 11 - (NewsRx.com & NewsRx.net) -- Matria Healthcare, Inc., (MATR) announced the signing of a definitive agreement to acquire MarketRing.com, an Atlanta-based healthcare information technology company.

The acquisition of MarketRing is expected to be completed in early June, subject to customary conditions including third party approvals and consents.

MarketRing has certain proprietary technology that Matria has previously licensed and currently utilizes with its TRAX disease management system. The MarketRing technology allows the rapid and inexpensive setup of sophisticated website portals for patients, physicians, payors, and employers. These websites have connectivity aspects that Matria is using in its latest TRAX upgrade, scheduled to be in production July 1, 2002. In addition, MarketRing, in conjunction with Matria's IT Development staff, has developed applications and delivered enhancements to Matria's TRAX system.

Parker H. Petit, Matria's chairman, president, and CEO, commented, "The acquisition of MarketRing will enhance our secure connectivity capabilities with all the constituents in our disease management process...the patients, their physicians, the health plans' case managers and administrators, and the benefits staff for the self-insured employers. In addition, MarketRing's experience and vision for healthcare information management are directly aligned with ours. This acquisition should allow Matria to expedite the completion of the majority of our technology development this year. We have made continuous upgrades to our TRAX disease management system, and development will continue at this rapid pace as we enhance the integration and connectivity aspects.

"In ...