Netsmart Technologies Signs Exclusive Product Integration Agreement with Geneva Software
Netsmart to be the Exclusive Provider of Genevaâ??s Financial Software to the Health and Human Services Industry
Orlando, Florida (April 10, 2006) –
Netsmart Technologies, Inc. (NASDAQ SC: NTST), a leading provider of enterprise-wide software for health and human services organizations, and Geneva Software, a leading provider of financial accounting systems for behavioral and mental healthcare, today announced that they have entered into a three-year exclusive product integration, sales and marketing partnership agreement designed to provide a comprehensive solution offering.
The agreement was announced at the National Council for Community Behavioral Healthcare’s 36th Annual Training Conference in Orlando.
Under the agreement, the terms of which were not disclosed, Netsmart will be the exclusive provider of Quantum, Geneva’s Windows-based financial management software, to the health and human services industry, including behavioral health, public health, substance abuse, social services and other areas.
Quantum will be an integrated financial management solution for all Netsmart products, which is expected to minimize the conversion process for customers who move between Netsmart products. Quantum is currently used by organizations that employ Netsmart’s Avatar software suite, and it will continue to be interfaced to the billing and clinical components of Netsmart’s CMHC/MIS software.
“Geneva has a solid track record of success in the industry,” said James L. Conway, Netsmart chairman and CEO. “We are pleased to provide our current and prospective clients with this financial management package that closely complements our product offerings.”
Quantum is designed to facilitate financial accounting processes critical to the operation of human services and behavioral healthcare provider organizations, including general ledger, accounts payable, inventory, payroll, human resources, purchasing, and asset and materials management.
“After years of working with multiple software vendors in this industry, we’re excited about this opportunity to sign an exclusive agreement with a long-standing and financially secure partner with a diverse range of customers nationwide,” said Tom Vincent, president of Geneva Software. “This partnership links us with a leader in enterprise behavioral healthcare software.”
For information about Netsmart Technology’s full range of solutions for health and human services, visit www.ntst.com or call 1-800-421-7503.
About Netsmart Technologies, Inc.
Netsmart Technologies, Inc., based in Great River, N.Y., is an established, leading supplier of enterprise-wide software solutions for health and human services providers, with more than 1,250 clients, including more than 30 systems with state agencies. Netsmart’s clients include health and human services organizations, public health agencies, mental health and substance abuse clinics, psychiatric hospitals, and managed care organizations. Netsmart’s products are full-featured information systems that operate on a variety of operating systems, hardware platforms, and mobile devices, and offer unlimited scalability.
About Geneva Software Company
Geneva Software, located in Greensboro, N.C., markets, deploys and supports the Quantum financial accounting solution primarily to mental and behavioral health care organizations around the country. Geneva has added many features to Quantum that make it a better fit to this industry than off-the-shelf canned packages. Quantum represents the best value of software for back-office mental and behavioral healthcare organizations.
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 website does not constitute a part of this release.