BERKELEY HEIGHTS, N.J. and GAINESVILLE, Ga., Feb. 11, 2016 (GLOBE NEWSWIRE) -- Authentidate Holding Corp. (OTCQB:ADAT) today announced that Peachstate Health Management, LLC d/b/a AEON Clinical Laboratories (AEON) will participate in a research study with the University of Southern California (USC) School of Pharmacy focusing on medication adherence. The research study will focus on the issue of medication adherence and compliance, which is estimated to cost the U.S. Healthcare system $100 Billion to $289 Billion annually and contributes 125,000 deaths a year and up to 10 percent of all hospitalizations.
Sonny Roshan, founder of AEON Clinical Laboratories and Chairman of Authentidate commented, “Medication adherence is an endemic problem for our nation that is extremely costly and undermines the value of carefully designed patient care plans. These important studies are designed to identify the root causes of medication nonadherence. AEON Clinical Laboratories will bring its proprietary pharmacogenetics data to these studies utilizing its reliable and proven facilities and services. With our advanced pharmacogenetics, providers will be able to develop a precision-guided treatment plan. Part of Aeon’s mission is to help facilitate the development of clinical best practices that enhance healthcare outcomes and address the issue of healthcare cost inflation. We look forward to collaborating with USC and some of the nation’s leading healthcare experts to improve medication adherence.”
“These studies will provide significant clarity around why so many patients become non-adherent and provide insight about what can be done to improve medication adherence and patient health outcomes,” according to Dr. Naomi Florea, Vice Chair of Innovation at USC. “We chose to work with AEON because of their track record of innovation and the strength of their process and testing technology. We believe that the expertise and the technology our partners are providing is needed to achieve reliable study results.”
AEON and The University of Southern California will participate with Dr. Itiel Dror’s study work. Dr. Dror's academic work relates to theoretical issues underlying human performance and cognition. His research examines the information processing involved in perception, judgment and decision-making. Dr. Itiel Dror has published dozens of peer-reviewed scientific articles and serves as Associate Editor and on the Editorial Boards of several scientific journals.
As announced on January 28, 2016, Authentidate Holding Corp. and Peachstate Health Management d/b/a AEON Clinical Laboratories have completed their merger transaction. The merger creates a company focused on delivering innovative solutions that achieve technology best practices in medicine and raises the standard of healthcare.
About AEON Clinical Laboratories
AEON Clinical Laboratories is a growing comprehensive and efficient clinical laboratory using state of the art testing equipment. Housed in a 28,000 square foot campus, in Gainesville, Georgia, AEON emphasizes Technology Innovation. AEON has developed proprietary methodologies that provide some of the fastest and most reliable urine and oral fluid (saliva) test results in the nation. AEON provides health care professionals with four primary tests: Medical Toxicology, Pharmacogenomics, Cancer Genetic Testing, and Molecular Biology.
For more information, visit www.aeonclinical.com
About Authentidate Holding Corp.
Authentidate Holding Corp. is a provider of web-based revenue cycle management applications and telehealth products and services that enable healthcare organizations to coordinate care for patients and enhance related administrative and clinical workflows. Authentidate's products and services enable healthcare organizations to increase revenues, reduce costs and enhance patient care by eliminating paper and manual work steps from clinical and administrative processes. Authentidate's telehealth solutions combine patient vital signs monitoring with a web application that streamlines patient care management. Delivered as Software as a Service (SaaS), customers only require an Internet connection and web browser to access our web-based applications thereby utilizing previous investments in systems and technology. The company's healthcare customers and users include leading homecare companies, health systems, and physician groups. These organizations utilize the company's products and services to coordinate care for patients outside of acute care.
For more information, visit www.authentidate.com
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control. Risks and uncertainties for Authentidate, AEON and of the combined company include, but are not limited to: liquidity and trading market for shares following the consummation of the merger; costs associated with the merger; failure or delay in obtaining required approvals by the SEC or any other governmental or quasi-governmental entity necessary to our ability to file an effective proxy statement in connection with the merger and other contemplated transactions; failure to obtain the necessary stockholder approval of the merger and the other contemplated transactions; uncertainties of cash flows and inability to meet working capital needs; and risks associated with the possible failure to realize certain benefits of the merger, including future financial, tax, accounting treatment, and operating results. Many of these factors that will determine actual results are beyond Authentidate’s or AEON’s ability to control or predict. Other risks and uncertainties are more fully described in our Annual Report on Form 10-K for the year ended June 30, 2015 filed with the SEC, and in other filings that Authentidate makes and will make with the SEC. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The statements made in this press release speak only as of the date stated herein, and subsequent events and developments may cause our expectations and beliefs to change. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements contained in this news release to reflect subsequent information, events, results or circumstances or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date after the date stated herein.
Authentidate, Inscrybe and InscrybeMD are registered trademarks of Authentidate Holding Corp. All other trade names are the property of their respective owners.
Source: Authentidate Holding Corp.