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BETHESDA, MD -- (MARKET WIRE) -- June 13, 2006 -- Healthnostics, Inc. (PINKSHEETS: HNST), a medical and bioscience analytics company, announced that it has signed an agreement to acquire the Physician Practice Management EMR-based (electronic medical record) system from H-Quotient, Inc. (PINKSHEETS: HQNT).
The software, PhysicianQuotient, targets the AMA-reported 177,000 to 185,000 physicians in group practice in the U.S.
The transaction calls for delivery of 12,000,000 shares of Healthnostics common stock and warrants to purchase an additional 12,000,000 shares of Healthnostics common stock for a period of 18 months at prices ranging from $.08 to $.20 per share. The shares,
subject to Rule 144 of the Securities Exchange Act of 1933, are restricted from resale in a broker transaction for one year.
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