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Article Excerpt
SHENZHEN CITY, China, Sept. 3 /Xinhua-PRNewswire-FirstCall/ -- China Information Security Technology, Inc., ("China Information Security," "CIST" or the "Company"), a leading application software developer, systems integrator and full-service Geographic Information Systems ("GIS") solutions provider to the public security and civil-use markets in China, today announced that the Company has signed a non-binding letter of intent to acquire a majority share of Shenzhen Zhongtian Technology Development Co., Ltd. ("Shenzhen Zhongtian"), a leading provider of hospital digital information systems in Guangdong Province, China. The acquisition is expected to close on the fourth quarter of 2008, and the terms of agreement will be disclosed at the closing of the acquisition. The acquisition is to be accretive toward 2009's earnings.
The acquisition of Shenzhen Zhongtian and its patented Medical Case Statistics Software will enable CIST to leverage its existing Residence Card application platform and information sharing capabilities to serve the growing demand for digital hospital and electronic medical record (EMR) systems in China. Medical records, including health examinations, medical care, immunity or infectious diseases, will be integrated into one centralized system so that doctors within the network can review a patient's complete medical history. Such digital hospital systems are expected to reduce medical errors and improve the efficiency of delivering healthcare services,...
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