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DALLAS, May 25, 2004 (BUSINESS WIRE) -- Zix Corporation (ZixCorp(R)), (Nasdaq:ZIXI), a trusted provider of solutions for e-prescribing, electronic prescription management, and secure e-messaging, today announced that an existing e-prescribing customer, a large insurance payor in the Northeast, has signed a $3.1 million supplemental contract.
The agreement and associated additional funding demonstrate the powerful value proposition for e-prescribing by increasing the investment to drive successful adoption, deployment, and ongoing usage.
ZixCorp's PocketScript(TM) solution enables physicians to electronically write prescriptions and immediately transmit them to pharmacies. PocketScript also identifies possible drug interactions and supplies real-time formulary information for all health plan subscribers.
The agreement, which represents the conversion of a letter of intent, increases the recognizable license revenue per device in the first year of use to more than $1,700 for the first 1,800 devices and more than $1,500 for the next 1,600 devices. The second 1,600 devices are to be delivered subsequent to successful deployment and usage of the initial 1,800. In aggregate, these changes increase the financial commitment to ZixCorp by $3.1 million to be spread evenly over the planned deployment of 3,400 physicians.
"Our customer's increased commitment will enable us to more aggressively provide the field resources required for adoption, training, and ongoing retention," said John Ryan, chairman and chief executive officer of ZixCorp. "We are committed to ensure this program meets its objectives for patient safety and convenience, physician satisfaction, and cost reduction for healthcare."
About Zix Corporation
Zix Corporation (ZixCorp(R)) is a global provider of e-messaging protection and transaction services. ZixCorp offers a range of solutions to protect organizations from viruses, spam, and electronic attack, as well as enabling secure electronic communications, such as email encryption, e-prescribing, on-line doctor visits, and electronic lab results. ZixCorp helps organizations of any size to streamline operations, reduce risks, and leverage the efficiencies of e-messaging. For more information, visit http://www.zixcorp.com/.
SOURCE: Zix Corporation
Kim Tompkins, 214-515-7338