The acquisition, recently approved by the Boards of both companies and the shareholders of MDUS, enables CareDecision to rapidly extend its "wireless" ResidenceWare systems for hotels and motels to additional, longer-term lodging markets, including: condominium complexes, high-rise apartment buildings, and assisted living centres, and other places where people congregate and work.
"ResidenceWare is designed to provide hotel guests an electronic connection to a series of services and products wherever they are, making their hotel stay a home away from home", stated Robert Cox, Chairman of CareDecision Corporation. "Combining our ResidenceWare features with secured broadband personal electronic connectivity services, and pay-per-use satellite broadcast greatly expands our available markets."
CareDecision Corporation is acquiring MDUS and its proprietary technologies by issuing a special class of preferred shares with preferences that limit conversion. The company intends to provide a more detailed discussion of the acquisition in a letter to shareholders once several procedural tasks are completed.
"The combination of ResidenceWare and MDUS Artificial Intelligence software robots improve the quality of life of consumers, by making information and other electronic goods and services convenient and simple to access and use", stated Howard Gunn, current President of MDUS, who will become Executive Vice President of CareDecision Corporation.
Howard Gunn added: "Last year, wireless local service with recurring revenue streams based on transaction fees, subscription fees, bandwidth rentals, and usage charges were greater than long-distance calling revenues, yet few if any pure hot spot site operators made any money from it. Obviously a new type of easy-to-use, secure service delivery vehicle is needed to attract the potential broadband consumer."
Howard Gunn continued: "ResidenceWare networks provide the high performance communications and information services that people want, including VoWiFi, VoIP, and secured P2P connections to remote Web Services. Many of our current site operators will use ResidenceWare as the stepping stone to new electronic service revenue streams such as: renting desktop productivity applications, leasing out secured electronic data storage lockers, providing secured electronic file transfers, and even selling cooperative advertising space on local monitors."
Howard Gunn concluded: "Hotel owners and site managers that I have met with across the country have been enthusiastic about having an information services tool set that reduces current expenses and improves the quality of service to customers while increasing revenues. With the merger in place, we will be able to quickly convert their enthusiasm into working systems to the mutual benefit of consumers and all of the parties involved in the delivery of consumer services."
CareDecision Corporation is a provider of Internet-enhanced PDA-like devices applicable to the health care, residential, and satellite information industries. Its proprietary MD@Hand, SateLink, and ResidenceWare technologies manage critical data, enhance productivity, and facilitate ease of communication with applications in the health care, apartment, hotel/motel, and satellite entertainment industries.