BERKELEY HEIGHTS, N.J., Sept. 26, 2013 (GLOBE NEWSWIRE) -- Authentidate Holding Corp. (Nasdaq:ADAT), a provider of secure web-based software applications and telehealth products and services for healthcare organizations, today announced financial results for the three- and 12-month periods ended June 30, 2013. Selected highlights for the fiscal year include:
- Increased revenues and reduced operating losses for the quarter and fiscal year periods. For the year, revenues increased approximately 51% due to growth from both telehealth products and services and hosted software services.
- Strengthened our balance sheet with the conversion of the company's outstanding shares of Series C convertible redeemable preferred stock to common stock, the cancellation of $6.5 million of senior secured notes in exchange for shares of Series D convertible preferred stock and warrants, and the completion of an underwritten public offering of the company's common stock and warrants for net proceeds of approximately $3.93 million.
- Completed the required test-in phase with the Department of Veterans Affairs (VA) for our Electronic House Call (EHC) and Interactive Voice Response (IVR) telehealth solutions; the VA approved the use of these solutions by VA facilities throughout the country.
- Completed the integration between the VA's VistA Electronic Health Records system and the company's telehealth solutions; the VA approved the use of the interface in its national telehealth program and also approved a number of new Disease Management Protocols (DMPs) for both telehealth solutions, significantly increasing the available patient population for these solutions.
- Announced several new customers for our Inscrybe® Referral Management and Hospital Discharge solutions and a co-marketing agreement with Fastrack™ Healthcare Systems, a Mediware company, for an interface between the referral management solution and the Fastrack Enterprise practice management system.
- Introduced a mobile telehealth tablet and a telehealth software application to address the growing need for mobility in the telehealth market, complement current products and services and provide for a broader range of price points and patient segments that can benefit from telehealth.