NEW YORK, Nov. 30 /PRNewswire-FirstCall/ -- Ramp Corporation today announced that its stockholders, at its annual shareholder meeting held on Thursday, November 18, 2004, approved a one-for-sixty reverse stock split of its outstanding shares of common stock. The reverse stock split will be effective on Wednesday, December 1, 2004.
“Completing this reverse split positions us to attract institutional investors, a broader audience of potential shareholders and improves our financial flexibility and strength in the eyes of many of our business partners. Our technology suites, CarePoint and CareGiver, position us for substantial future growth as a company. Today’s stockholder action will allow us to continue to gather momentum in bringing our healthcare connectivity solutions to market,” stated Andrew Brown, Ramp CEO and President.
Ramp Corporation, through its wholly owned HealthRamp subsidiary, develops and markets the CareGiver and CarePoint suite of technologies. CareGiver enables long term care facility staff to easily place orders for drugs, treatments and supplies from a wireless handheld PDA or desktop web browser. CarePoint enables electronic prescribing, lab orders and results, Internet- based communication, data integration, and transaction processing over a handheld device or browser, at the point-of-care. HealthRamp’s products enable communication of value-added healthcare information among physician offices, pharmacies, hospitals, pharmacy benefit managers, health management organizations, pharmaceutical companies and health insurance companies. Additional information about Ramp can be found at http://www.ramp.com/.
Safe Harbor Statement: To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as “expects,” “plans,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance the development of its Internet services and related software, the effectiveness, profitability and the marketability of those services, the ability of the Company to protect its proprietary information and to retain and expand its user base, the establishment of an efficient corporate operating structure as the Company grows and, other risks detailed from time-to-time in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements.
Ramp Corporation
CONTACT: Andrew Brown of Ramp Corporation, +1-212-440-1548
Web site: http://www.ramp.com/