SHENZHEN, China, March 19 /PRNewswire-Asia-FirstCall/ -- China Information Security Technology, Inc., (Nasdaq: CPBY) (“China Information Security,” “CIST” or the “Company”), a leading application software developer, systems integrator and full-service Geographic Information Systems (“GIS”) solutions provider to public security and civil-use markets in China, today announced that the Company’s patented Medical Case Statistics Software has been selected for an exclusive contract, valued at $2.5 million, by the Health Department of Guangdong Province.
CIST’s patented Medical Case Statistics Software (the “MCS Software”) serves the growing demand for digital hospital and electronic medical record (EMR) systems in China. It facilitates the integration of medical records, including health examinations, medical care, immunity or infectious diseases, into one centralized system so that doctors within a 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, so as to benefit patients, while helping to minimize medical claims fraud. The MCS Software can also be used to provide public health authorities with an integrated command and decision system for public health and disease control. City governments can also be provided with an additional layer of security through real-time disease and control statistical information. The contract mandates a rollout of the MCS Software to 1,000 hospitals in Guangdong Province, commencing immediately. The rollout is expected to be completed by 2010.
This contract win follows the successful implementation of CIST’s Hospital Information System (“HIS”) in three hospitals in Shenzhen during the fourth quarter of 2008. The Company expects to expand its HIS to an additional
7-8 hospitals in Shenzhen in 2009. The win also highlights the value of the intellectual property portfolio and established distribution networks acquired by CIST with its acquisition of Zhongtian Technology. With CIST’s strong software development capabilities and successful implementation record, the Company hopes to continue leveraging this portfolio to enhance its product offerings and accelerate its penetration into the digital hospital sector in China.
“We are pleased that we have been selected on an exclusive basis by the Health Department of Guangdong Province to rollout our patented software," commented Mr. Jiang Huai Lin, CEO of China Information Security. "We believe this is a testament to our ability to successfully deliver best-in-class software solutions to high profile clients. The digital hospital industry is a relatively new vertical for us, but we expect this exclusive contract will further strengthen our brand recognition due to its large scale rollout, and significantly facilitate the continual expansion for our HIS and other digital hospital solutions.”
About China Information Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Information Security Technology, Inc. (“CIST” or the “Company”) headquartered in Shenzhen, China (“PRC”), is 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, aiming to use information technology to improve public safety and information management. Its main business lines range from digital information security, to GIS and digital hospital information systems. The Company provides a broad portfolio of fully integrated solutions and services, including its First Responder Coordination Platform, Intelligent Border Control System, Residence Card Information Management System, Police- and Civil-use GIS products, and Digital Hospital Information System, to serve the growing demand for digital hospital and electronic medical record systems in China. Its commitment to leading-edge technology and quality assurance has won the Company numerous government and enterprise contracts throughout China. To learn more about the Company, please visit the corporate website at http://www.chinacpby.com .
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of China Information Security Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding the significance of the exclusive contract award for its Medical Case Statistics Software and its effect on the Company’s ability to increase its market share, revenues and profitability; the general ability of the Company to achieve its commercial objectives, including its ability to leverage Zhongtian Technology’s intellectual property portfolio to enhance its product offerings and accelerate its penetration into the digital hospital sector in China; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of
forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Ms. Iris Yan
Investor Relations Manager
China Information Security Technology, Inc.
Tel: +86-755-8370-4767
Email: ir@chinacpby.com
Web: http://www.chinacpby.com
Investor Relations Contact:
Mr. Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915 (NY office) or
Mr. Gary Chin
Tel: +1-646-213-1909
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
