Penny Stocks to Watch – Authentidate Holding Corp. (Public, NASDAQ:ADAT) – 12/23/2011
Authentidate Holding Corp. is currently a provider of secure health information exchange, workflow management services and telehealth solutions. Authentidate and its subsidiaries provide software programs and Web-based services that address a number of small business needs. Its Web-based services are shipped as software (SaaS) to the clients interfacing effortlessly with their billing and document management systems.
The company has managed to develop their technology in anticipation of the massive changes that will be taking place in the healthcare industry as the U.S. begins its transition to Affordable Healthcare Act. Authenidate offers solutions that incorporate multiple features and security technologies, for example rules based electronic forms, intelligent routing, transaction management, electronic signatures, identity credentialing, content authentication, automated audit trails and remote patient monitoring abilities. Both Web and fax-based communications are built-into automated, secure and reliable workflow solutions. Authentidate works its business within the U.S. and Germany. On November 21, 2011, the organization acquired ExpressMD Solutions, LLC as part of its core group of holdings.
Authenidate Holding Corp. reported that it has signed a non-exclusive national merchant agreement with SHI International Corp. The agreement enables SHI International Corp. to provide several of their systems to their current clients. Among the services they will provide are:
- Authentidate’s Inscrybe Health care Referral and Order Management
- Inscrybe Hospital Discharge
- ExpressMD Remote Patient Monitoring
Authentidate’s software and services are offered to health care organizations in order to accelerate placement at care facilities, speed care order completion and approval, connect patients for their with care providers, and monitor patients remotely. The proprietary systems are modular and saleable for maximum flexible to meet individual provider needs.
The company also announced that it has completed a transaction with EncounterCare Solutions, Corporation. its joint venture in ExpressMD Solutions, LLC. The deal meant that EncounterCare Solutions would agree to transfer all of its ownership interest in the joint venture to Authentidate. ExpressMD Solutions will be a wholly-owned subsidiary of Authentidate Holding Corp.
EncounterCare Solutions as well as an affiliated company granted Authentidate an international, perpetual, irrevocable, royalty-free, non-transferable (except as defined), non-exclusive license to make use of their intellectual property. This arrangement was to assist in the commercialization and development of the Electronic House Call remote patient monitoring device. Authentidate decided to pay EncounterCare Solutions $1,000,000 in cash, due during a period of a year. The company also issued 1,500,000 shares of its common stock as part of the transaction. The transaction closed on November 21, 2011.
Authentidate Holding Corp. (Public, NASDAQ:ADAT) 52wk Range:0.40 – 1.60 Avg Vol: (3m):95,809Tags: ADAT, Authentidate Holding Corp, penny stocks to watch