FOR IMMEDIATE RELEASE
New Rochelle, N.Y., November 8, 2001 -- OCG Technology, Inc. (OTC BB:
"OCGT") and NetImpact Holdings, Inc. (OTC: "NTHD")
announced today that they have signed a Letter of Intent that provides
for OCGT to acquire all the issued and outstanding stock of NTHD in
exchange for OCGT stock. NTHD and OCGT believe that the integration
of their proprietary software technologies will create an extremely
powerful and flexible medical information acquisition and management
system with unprecedented comprehensive decision support analysis.
NTHD is pursuing several international healthcare programs that would
benefit from the integration of the two companies' products. NTHD recently
was selected for a major multi-year international healthcare information
management program with initial revenue projected to be in excess of
$50,000,000 per year. The company expects to receive the contract soon.
Completion of the proposed acquisition is subject to both OCGT and
NTHD executing a definitive agreement and approval of the stockholders
of both companies. Although OCGT will be the surviving entity, the company's
name will be changed to NetImpact Holdings, Inc. The proposed new Board
of Directors will consist of Edward C. Levine, OCGT's Chairman and President,
John D. Looney, NTHD's President and CEO; Jeffrey P. Nelson, OCGT's
Executive Vice President and Secretary; John A. Paolicelli, NTHD's Chairman
and Executive Vice President; James L. Tolley, NTHD's Vice Chairman
and Executive Vice President; and James Zilli, President of NetImpact, Inc.
Levine is a member of the New York Bar and prior to joining OCGT was
in charge of International Taxation at Laventhol & Horwath. Looney
prior to joining NTHD was President of National Solutions Corporation
and earlier held executive positions with Technology Systems Corporation
and Chrysler Corporation's Technology Division. Nelson prior to joining
OCGT was Vice President in the Asset Based Finance Division of Marine
Midland/Hong Kong Shanghai Bank. Paolicelli held executive positions
at National Solutions Corporation, Technology Systems Corporation, the
Iacocca Institute at Lehigh University, and Chrysler Corporation's Technology
Division. Tolley is retired Vice President of Public Affairs of both
Chrysler Corporation and American Motors Corporation, and Director of
Public Relations for the Chevrolet Division of General Motors. Zilli
held management consulting positions at Vitria Technology, Inc., Cinergi
Consulting Partners, the American Productivity & Quality Center
Consulting Group, and Coopers & Lybrand Management Consulting Services.
OCGT's unique technology, PrimeCareTM System, acquires medical information
and data at the point of origin from the patient, physician, and/or
staff and analyzes it in real time. NTHD's technology is a suite of
healthcare-oriented analytical modules that can operate independently
or as an integrated data warehouse with comprehensive decision support
capabilities. The suite focuses on patient, provider, outcomes, diagnosis,
treatment, and financial data. Three of NTHD's officers have marketed
healthcare management and analytical software to the automobile industry
and insurers, including Blue Cross/Blue Shield.
NTHD is also an information technology and productivity management
company. It focuses its competence on behalf of organizations that want
to improve productivity and business analytical capabilities by making
their various software applications work together with maximum efficiency
and output.
Through it's wholly-owned subsidiary, NetImpact, Inc., NTHD has a partnering
Agreement with Vitria Technologies Inc., a leading integration server
provider, to install and maintain Vitria's BusinessWare software.
Vitria's BusinessWare integrates applications and automates mission-critical
business processes within and across the extended enterprise, reducing
time to market, shortening lead times, lowering operating costs, and
increasing customer satisfaction. Vitria is a publicly traded company
(NASDAQ: VITR) based in California. The company's Web site is www.vitria.com.
NTHD has just completed a first phase installation and integration
of BusinessWareTM at a BP (British Petroleum) facility near Chicago.
The installation has already improved the flow and management of the
supply of refined products from BP refineries to their outlets. The
U.S. General Services Administration has listed NTHD on the GSA's on-line,
web-based purchase order system as a pre-approved vendor of middleware
systems integration for the U.S. Government.
NTHD also is developing software, code named eWeasel, that will allow
intelligent, secure, seamless access to remote computers (mainframes,
legacy systems, and client servers) via the Internet. It will enable
the user of the host computer to operate authorized remote computers
as if they were his or her own and to run jobs on them regardless of
hardware, platform, or command (JCL) operating language disparity.
OCGT and its wholly owned subsidiary, PrimeCare Systems, Inc. ("PSI")
developed, own, maintain, update, expand and market the PrimeCareTM
Patient Management System ("PrimeCareTM System") and three
Internet sites that use various sections of the PrimeCareTM System:
www.PrimeCareOnTheWeb.com, www.YourOwnDoctor.com and www.YourOwnHealth.com.
The PrimeCareTM System is an in-office client-server based, user friendly,
unique patient-physician interactive system that creates an electronic
medical record documenting the entire patient-physician encounter. It
enables the physician to obtain the patient's detailed history of present
illness ("HPI") including an alphabetical list of the diagnostic
risk considerations with the patient's answers repeated that support
each diagnostic consideration, without requiring any physician time
and prior to seeing the patient. It also allows the physician to document
the normal and abnormal physical findings, assessment, tests, treatment
plan, medications prescribed and patient education handouts regarding
disease management given to the patient. In addition, it automatically
calculates, in real time, the proper E&M code level for Medicare
and other third party reimbursement for the office visit.
The PrimeCareTM System contains an authoritative and comprehensive
knowledge database of approximately 275 symptom and problem oriented
patient HPI Questionnaires for the diagnostic and follow-up office visits
and collectively, over 100,000 complaint and disease state questions,
1,600 diagnoses, 1,100 physician quick reference summaries and 1,500
patient education handouts. The Company has migrated the HPI Questionnaires
for the diagnostic and follow-up office visits, physician reference
and patient education material, CodeComplierTM for real time E&M
code calculation and scheduler sections of the PrimeCareTM System to
its Internet Products. The Company continues to migrate the entire PrimeCareTM
System to the Internet. The Company plans to implement connectivity
with hand held, wireless and satellite devices where appropriate and
technically feasible.
PrimeCareOnTheWeb.com (www.primecareontheweb.com) is restricted to use
by registered physicians. It enables physicians to obtain their patients'
detailed HPI by having the staff select the appropriate Questionnaire
and then have their patients securely complete, via the Internet, one
or more HPI Questionnaires related to the patients' symptoms or problems.
YourOwnDoctor.com (www.yourowndoctor.com) is a Web community that provides
individual web sites for registered physicians to promote the physician's
practices and services offered, and provide a quick and convenient point
of access for the physician's patients.
YourOwnHealth.com (www.yourownhealth.com) is a consumer health and
wellness site that includes current medical news, medically reviewed
reference materials, and more than 100 of PSI's most frequently used
problem-specific medical questionnaires. It also features a personal
health Notebook where consumers can securely store medical information
about themselves.
OCGT is headquartered in New Rochelle, New York, and has a technical
support office in Newport News, Virginia. NTHD is located in Temecula, California.
Safe Harbor statement:
The statements that are not historical facts contained in this release
are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, and OCGT and NTHD intend that such forward-looking statements
be subject to the safe harbors created thereby. These forward-looking
statements include predictions, estimates and other statements that
involve a number of risks and uncertainties any, or all, of which could
cause actual results to differ materially from any future performance
suggested herein. While this outlook represents OCGT's and NTHD's current
judgment on the future direction of the business, such risks and uncertainties
may individually, or mutually, impact the matters herein described,
including but not limited to product acceptance, economic, competitive,
governmental, results of litigation, technological and/or other factors,
which are outside the control of both OCGT and NTHD as well as those
risks and uncertainties detailed in both Company's Security and Exchange
Commission filings.
Company Contact:
| OCG
Technology, Inc. |
NetImpact Holdings. Inc.
|
| Jeffrey
P. Nelson |
James L. Tolley |
| Executive Vice President |
Executive Vice President |
| Tel.
(914) 576-8457, ext 21 |
(941) 346-3400 |
| jnelson@pcare.com |
jltolley@aol.com |
|