Newsroom > For immediate Release
Dateline Kingston, Ontario
June 30, 2003AdapCS announces establishment of partially-owned Canadian subsidiary
AdapCS Canada Corporation has announced its formation as a privately held company located in downtown Kingston, Ontario. The company name is derived from the phrase "Adaptive Clinical Solutions." "Our name," says CEO Dr. Kurt Sligar, "refers to the use of cutting edge analytical technology in the delivery and management of healthcare."
Among the founding principals of AdapCS are physicians, programmers and business people from both Canada and the United States. AdapCS plans to introduce two new software products this summer. These products are designed for use by doctors and hospitals to monitor and improve the quality and access to patient care. Founders of the company include Canadian healthcare professionals and AdapCS, Inc. of Marina, California.
Under contract with GE Medical Systems, AdapCS, Inc. of California has adapted DYNAMO (short for "Dynamic Analysis of Measured Outcomes") to meet the needs of Canadian Healthcare. GE Medical Systems markets this product in the U.S. and has piloted its use in Canada as a joint effort with Kingston General Hospital and the Ontario Hospital Association. As a result of this successful pilot and in accordance with a pending agreement with GE Medical Systems, AdapCS Canada anticipates release of its own product which will be similar to DYNAMO in design and function. "This product will be used by healthcare management to improve quality and monitor cost," adds Dr. Sligar.
AdapCS's other product is Axcess.Rx. This software tool helps doctors manage patients who are waiting for surgery and provides information to healthcare management and the public regarding trends in waiting times for various surgical procedures. This product is the brainchild of Dr. John Marshall, a long-time Kingston neurosurgeon and past Chief of Staff of Kingston General Hospital. He and John Lott, who is on the management team at KGH, have pending patents on the technology behind Axcess.Rx.
Both Kingston General Hospital and Queens University will share in a portion of sales revenue from this product through a proposed technology transfer agreement with AdapCS Canada. Such public-private partnership arrangements are becoming a popular way to allow society to benefit from academic research and for public institutions to bolster their increasingly scarce financial resources. PARTEQ Innovations is a company formed by KGH and Queens to manage technology transfer activity. "PARTEQ was instrumental in the formation of AdapCS Canada," comments Dr. Sligar.
Dr. Marshall, Dr. Sligar and other AdapCS Canada principals have extensive experience in both clinical medicine and hospital administration. On behalf of AdapCS Canada, they plan to offer consultation services to healthcare organizations in Ontario and throughout Canada.
"AdapCS develops healthcare software and has a special interest in corporate development with an emphasis on facilitating the transition of academic research to practical applications in healthcare and AdapCS Canada will support both of these interests", says Dr. Kelly O'Keefe, Chairman of AdapCS, Inc. As a founding equity holder in AdapCS Canada, AdapCS, Inc. provided funding, product license and management services to AdapCS Canada.
AdapCS, Inc. is based in Marina, California and is a privately held healthcare technology company. AdapCS is dedicated to improving healthcare delivery with innovative technology. The company has a special interest in information technology and business development with an emphasis on facilitating the transition of academic research to practical applications in healthcare. AdapCS provides primary and consultative services in the areas of software development, corporate development, healthcare information technology and management. Additional information regarding AdapCS and its products and services can be found on their website at www.adapcs.com, or contact the corporate offices at (831) 582-9760.
