SUNNYVALE, Calif. and RESTON, Va., July 26 /PRNewswire-FirstCall/ -- Verity Inc. and Proxicom Inc., today announced a strategic partnership to provide integration of Verity(R) K2 Enterprise (K2E) advanced search and classification technologies with Proxicom’s Healthcare and Life Sciences solution offering. Initially, the two companies plan to co-market Proxicom’s industry-leading Health Plan Provider Portal Solution.
Proxicom’s Health Plan Provider Portal is a secure, rapidly deployed, extranet portal for managing claims, benefits, eligibility, and ongoing physician education and research. “With the integration of Verity K2E, the Provider Portal will be an even more effective intellectual capital management tool for health plans’ most critical constituent group -- physicians,” said Stephan Papadopulos, Proxicom’s healthcare practice managing partner. “We believe that Verity is the only company that can meet the needs of our customers.”
The Provider Portal aims to make it easier for providers to do business with a health plan. The adoption of the tools and resources offered on the portal can also create a tighter bond between the entities. The Portal is being used by leading health plans that have -- as a result of deploying the portal to their physician partners -- improved their competitive position. Many of the health plans that have implemented the portal establish themselves as a business partner of choice, create stronger bonds with the healthcare providers, and increase per case profitability. Improved quality and efficiency of care and reduced costs due to administration burdens are additional measurable benefits of the Health Plan Provider Portal.
Verity K2E’s advanced search and classification capabilities aim to provide joint customers the ability to quickly and easily search, browse and retrieve any content within the Proxicom’s Provider Portal, enabling healthcare professionals to spend more time providing treatment to patients and less time locating patients’ healthcare information. In addition, Verity K2E’s real-time indexing capability can enable users to search and retrieve this information as soon as it is created or modified. This will allow physicians to access latest procedures and treatment methods as soon as they are published by researchers on the Provider Portal. Verity’s Parametric Selection feature also permits users to quickly sort and filter information by selecting pre-set parameters, which enables users to accurately locate relevant content.
Verity’s flexible content classification capabilities permit organization of large amounts of diverse information into relevant taxonomies or “views.” Verity K2E also supports multiple languages to allow global healthcare centers using the Proxicom’s Portal to index, classify, search and retrieve information in more than 70 business languages.
“Proxicom has been an outstanding Verity Systems Integration partner,” said Brian Bennett, Verity’s vice president of channels. “We are pleased that Proxicom has chosen Verity K2 Enterprise to help their customers to improve the adoption rates of the Provider Portal Solution across health plan enterprises, and accelerate their return on intellectual capital investments. By adding Verity’s advanced search and classification capabilities to the Provider Portal solution, customers now have a best of breed solution for managing their data which will translate into improved communication of information and knowledge.”
About Proxicom
Proxicom is a leading provider of Web application development and information technology (IT) services. Acquired in March by private investment firm Gores Technology Group, LLC, Proxicom operates as a wholly owned subsidiary. Proxicom develops solutions that enable organizations to increase their agility by connecting decision makers to the information needed to make sound decisions. Service offerings include Application Development and Integration, incorporating Technical Architecture and User-Experience Architecture; IT Strategy; Project Management; and Application Management. Proxicom’s primary focus is helping clients unlock information and value from existing data assets. Based in Reston, Va., and New York, N.Y., Proxicom was founded in the early 1990s. For more information, visit our website at http://www.proxicom.com/.
About Gores Technology Group, LLC
Gores Technology Group, LLC (“Gores”) is a private investment firm focused on the technology and telecommunications sectors. Since 1987, Gores has amassed an enviable track record of successful investments within these sectors. The firm combines the seasoned M & A team of a traditional financial buyer with the operational expertise and detailed due diligence capabilities of a strategic buyer. Gores has a long standing record of creating sustainable value in its portfolio companies by focusing on customers and employees, supporting management with operational expertise and providing the capital required for growth. Headquartered in Los Angeles, California, Gores maintains offices in Boulder, Colorado; New York; London; and Zurich.
About Verity
Headquartered in Sunnyvale, California, Verity provides software that enables organizations to maximize the return on their intellectual capital investment. The company’s intellectual capital management (ICM) solutions provide integrated search, classification, recommendation, monitoring and analytics across the real-time flow of enterprise information, along with question and answer interfaces for effective online self-service. Other Verity ICM solutions capture content and drive automated business processes. Verity technology also serves as a core component of more than 260 applications from leading independent software vendors.
Verity software solutions are used by more than 11,500 customers in the private and public sectors. Customers include American Express, AT&T, Bristol-Myers Squibb, British Petroleum, Cap Gemini Ernst & Young, Cardinal Health, Cisco Systems, EMC Documentum, Dow Jones, Financial Times, Hewlett-Packard, Home Depot, Lotus, Kaiser Permanente, META Group, SAP, Siemens, the State of California, Stellent, Sybase, the U.S. Departments of Energy and Justice, and the U.S. Army.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com/ or call 408-541-1500.
This press release contains forward-looking statements regarding the benefits that Verity expects its customers will receive from its partnership with Proxicom. These statements are subject to risks and uncertainties, including the risk that: the benefits may not be obtained due to technical or other reasons; and the structure of certain customers’ organizations may not be conducive to realizing these benefits. These and other risks relating to Verity and its business and products are set forth under the caption “Risks Relating to Our Operations” in Item 2 of Verity’s Form 10-Q filed with the Securities and Exchange Commission on April 12, 2004.
NOTE: Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
All other trademarks are the property of their respective owners.
Verity Inc.
CONTACT: Winifred Shum of Verity, Inc., +1-408-542-2363, orwshum@verity.com; or Tameron Ricker of Proxicom, Inc., +1-646-458-3045, ortameron.ricker@proxicom.com; or Steve Hoechster of ElsterGroup+1-646-495-5401, or +1-914-393-9219, or shoechster@elstergroup.com, forVerity; or Greg Kalish of Euro RSCG Magnet, +1-212-367-6867, orgreg.kalish@eurorscg.com, for Proxicom
Web site: http://www.proxicom.com/
Web site: http://www.verity.com/
