SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: October 20, 1999
ACADIA NATIONAL HEALTH SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
COLORADO
(State or Other Jurisdiction of Incorporation)
0-28976 010509781
(Commission File Number) (I.R.S. Employer Identification Number)
415 Rodman Road, Auburn, Maine 04210
(Address of Principal Executive Offices) (Zip Code)
(207) 777-3423
(800) 479-3066
(Registrant's Telephone Number, Including Area Code)
INFORMATION INCLUDED IN THIS REPORT
ITEMS 1 THROUGH 4, 6 THROUGH 9 NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
(i) Reference is made to the press releases issued to the public by the
Registrant on October 4 and 12, 1999, the text of which is attached
hereto as Exhibit 99.1 and 99.2, respectively, including a description
of the events reported pursuant to this Form 8-K.
INDEX TO EXHIBITS
Exhibit Description
99.1 Text of press release dated October 12, 1999
99.2 Text of press release dated October 4, 1999
Exhibit 99.1
Echo Management Group and Acadia National Health Systems, Inc. Announce Joint
Venture CENTER CONWAY, N.H. and AUBURN, Maine, Oct 12, l999 (BW HealthWire)--
Echo Management Group and Acadia National Health Systems, Inc. have formed a
joint venture to meet the needs of the behavioral health providers. The
venture combines Echo's leading edge software solutions with Acadia National
Health Systems transaction processing, insurance billing, and managed care
reporting services. The venture provides behavioral healthcare agencies with
an Application Service Provider (ASP) approach to streamlining and improving
the agency's bottom line. The ASP model provides an agency with
hardware/software, skilled billing personnel, and improved revenue streams
without the need for large capital expenditures.
CONTACT:
Echo Management Group Michael Lachapelle, (800) 635-8209 www.echoman.com; or
Acadia National Health Systems, Inc. John F. Raden, (800) 479-3066
Exhibit 99.2
Maine Healthcare Companies Plan Merger AUBURN, Maine, Oct 4, 1999
(BW HealthWire) --
Acadia National Health Systems, Inc., (OTCBB: ACAD) a publicly traded Maine
based medical financial and consulting company serving physicians and medical
service organizations throughout New England, announced today that it has
signed a letter of intent to merge with Medlecture.com. Medlecture.com is an
Internet e-commerce company based in Auburn, Maine, that provides a unique web
based information and education program for physicians. "The combination of
Acadia and Medlecture.com is the natural evolution for both companies," said
Paul Chute Chairman/CEO of Acadia. "They are a perfect match. Acadia has a
long history of bringing a superior level of financial service to physicians
throughout New England. By combining the resources of the Internet based
Medlecture.com with Acadia, physicians will be able to receive a comprehensive
package of financial and education resources." The fact that Acadia is a
publicly traded company with an experienced senior management team already in
place, were critical factors in the merger. Emile Clavet, a partner in
Medlecture.com said, "In order to raise the funds required to grow our
business in the future, it will be necessary for us to be a public company
with a strong management team. Acadia National Health Systems, Inc. has, for
the past three years, had all the elements in place and is a fully compliant
public company." "This is an excellent opportunity for Acadia National Health
System's shareholders," added Chute. "They will be getting a stronger company
with new products and services that will help the company continue to grow and
add increased shareholder value." Acadia and Medlecture.com will now proceed
to the due diligence phase of the process and expect to receive board and
shareholder approval for the merger by the end of the year.
CONTACT:
Acadia National Health Systems, Inc. John W. Holt Jr., 207/777-3423
jolt@acadianational.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACADIA NATIONAL HEALTH SYSTEMS, INC.
/s/ Paul W. Chute
DATE: October 20, 1999 By: PAUL W. CHUTE
Name: Paul W. Chute
Title: Chief Executive Officer