California Software´s healthcare software subsidiary AHN expands

California Software Company Ltd has announced that its US subsidiary American HealthNet Inc (AHN) had received an additional equity funding of US $ 1 million from a venture capital firm, Andorra Ventures Corporation (AVC) to meet its expansion needs. AVC, an angel investment and venture capital Company headquartered in Hong Kong, will hold approximately 18% of the expanded capital of AHN.

Simultaneously Calsoft group´s stake in AHN also has increased now to 52.81% through stock buyouts from existing shareholders. The Company had acquired a majority stake of 51% in AHN in February 2005 (through the Company´s wholly owned US subsidiary CSWL Inc).

Founded in 1980 and headquartered in Omaha, Nebraska, American HealthNet Inc (AHN) is a healthcare software product Company. AHN provides Integrated Enterprise Software applications to Community Healthcare Organizations and is a leading player in the US Community Healthcare Software market.

According to Mr S (Sam) Santhosh, Managing Director, of the Company, "These changes are in line with Calsoft´s overall strategy and this funding move reinforces healthcare as one of our core focus areas. With a strong team of committed professionals both in India and US, we look forward to emerging as one of the niche players in the healthcare software arena".

AHN has bagged prestigious contracts recently from Mountain Community Medical Services, California and Winner Regional Healthcare Center, South Dakota, to offer its Clarus suite of products. The Company expects that the expansion of AHN will add to the Company´s overall growth and contribute to its consolidated profits before the next fiscal.

AHN´s Clarus suite of products with its core enterprise master patient index features a full complement of clinical applications - from electronic medical records to order management - and is fully integrated with all financial applications. The Clarus suite provides its target segment of healthcare providers a cost effective integrated solution that meets HIPAA requirements for EDI, Privacy and Security, and delivers total paperless practice capabilities. The system shares data between hospitals, clinics, labs, and pharmacies. Future enhancements of the Clarus application suite include long-term care, practice management and managed care modules.

Source : Equity Bulls

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