EXHIBIT 99B
IDX News Release
IDX Systems Corporation Contacts: IDX Systems Corporation
1400 Shelburne Road Nina Fraley, Public Relations
P.O. Box 1070 (206) 689-1378
Burlington, VT nina_fraley@idx.com
95402-1070 Debbie Drewniak, Investor Relations
www.idx.com (802) 862 - 1022
- ----------- deborah_drewniak@idx.com
FOR IMMEDIATE RELEASE
IDX Systems Corporation Announces Acquisition of ChannelHealth
Physician connectivity tools improving the healthcare delivery process
Burlington, VT, April 21, 1999--IDX Systems Corporation (Nasdaq: IDXC) today
announced that on April 1, 1999 IDX purchased 80 percent of ChannelHealth of
Bedford, Massachusetts. IDX paid $6.5 million in cash for its interest and
committed an additional $16 million in cash to fund operations over the next
three years. IDX has also agreed to pay an additional $3 million, contingent on
achieving certain performance goals. ChannelHealth develops Web-based services
designed to provide healthcare consumers with comprehensive drug information,
extensive disease, health, and wellness information, and e-commerce for ordering
and fulfillment of medical products. ChannelHealth's Web services, expected to
be available to consumers by midyear, is designed to enhance the traditional
physician-patient and pharmacy-patient relationships by pointcasting custom
tailored healthcare information and product offerings to patients and physicians
through a secure and confidential private community network.
According to IDX Chief Executive Officer Richard E. Tarrant, "Our Internet track
record began three years ago with the launch of OutReach, our Web-based product
that connects physicians and other healthcare providers to data from IDX
systems. We are building on this success to improve healthcare by integrating
patient access to the healthcare system through our Web initiative. We believe
patients will want to go to their physicians' websites to request a scheduled
visit, view lab results, and interact with IDX transaction and clinical systems.
And once online, we expect that patients will demand information on medical
conditions, drugs and other health products. Through acquisitions such as
ChannelHealth, IDX is positioned to push health information and e-commerce
anywhere on the value chain. With this capability, IDX expects to continue the
lead in transforming healthcare on the Internet."
David R. Page, a pharmacist and expert in direct marketing for healthcare
products, founded True Channel Communications in 1996. Mr. Page will remain with
ChannelHealth. "It is an exciting opportunity to be aligned with a corporate
leader in the HCIS industry. This acquisition validates the ChannelHealth
solution for physicians, patients and healthcare plans," said Page. "With the
IDX and ChannelHealth combination, we expect physicians and pharmacists to
extend their capabilities for patient education with online healthcare
information in a way that will be easily accessible and meaningful to the
patient."
Page 9 of 10
- more -
IDX/Channel Health...Page 2
The ChannelHealth acquisition is a key component of a comprehensive Web
initiative for IDX that includes the use of browser technology on existing IDX
products, and the use of the Internet as a connectivity tool for content
delivery and e-commerce capabilities. With the ChannelHealth acquisition, IDX is
adding a critical building block in the IDX Web strategy.
About IDX
Founded in 1969, IDX Systems Corporation provides complete healthcare
information solutions for integrated delivery networks including group
practices, MSOs and hospitals. To connect systems and sites across the
enterprise, IDX offers IDXtendR(TM) @ the Site Series. The IDXtendR product line
provides comprehensive, integrated products and services to manage costs and
contracts, measure utilization, capture clinical data and monitor patient
outcomes - while streamlining patient flow and automating business processes.
IDX is the company of choice at more than 1,600 customer sites nationwide.
***
This press release contains forward-looking statements that involve a number of
risks and uncertainties, including statements regarding the expected development
of IDX's Web-based strategy and the future benefits IDX expects to derive as a
result of that strategy. Among the important factors that could cause actual
results to differ materially from those indicated by such forward-looking
statements are the satisfaction of various closing conditions, volume and timing
of systems sales and installations, length of sales cycles and installation
process, seasonal patterns of sales and customer buying behaviors, procurement,
development and implementation of year 2000 ready products for internal use,
procurement, development and implementation of year 2000 ready solutions for
customers, the potential disruption of customer's purchasing plans due to work
on their own year 2000 problems, development by competitors of new or superior
technologies, delays in product development, undetected errors or bugs in
software, product liability, changing economic, political and regulatory
influences on the healthcare industry, changes in product pricing policies,
competitive pressures, possible regulation of the Company's software by the U.S.
Food and Drug Administration, general economic conditions, and the risk factors
detailed from time to time in the Company's periodic reports and registration
statements filed with the Securities and Exchange Commission, which important
factors are incorporated herein by reference.
Page 10 of 10