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Biometrics 2000, Inc. Begins Joint Venture/Marketing Agreement with Digital Healthcare, Inc.
Jan-07-04
SPRINGFIELD, Mass. BIOMETRICS 2000 Corporation ("BIO"), a 4-year-old biometrics company with a next generation product line of biometric tactile sense access control devices and advanced fingerprint scanner/verifier hardware and software, announced today that it has signed a joint venture/marketing agreement with Digital Healthcare, Inc. (DHI), a Valley View, Ohio-based company.
BIO is pleased to have entered into this agreement with DHI to assist in providing contacts, products and services in the United States markets for DHI's software to health care facilities. DHI (www.dhinc.biz) has a patented and proprietary software package that matches patent billings with health care providers in near real time. Digital Healthcare is automating the coordination of benefits among health plans providing substantial savings.
Joseph Turek, CEO and Founder of Biometrics 2000, said, "The complimentary products and business models make this a great fit for both companies. We see this leading to the next step in our ability to reach health care facilities with our biometrics solutions. BIO will develop the necessary interfaces for the integration of biometrics throughout the health care industries."
BIO is in the process of completing a merger with VillageWorld.com (OTCBB:VILW). Terms of the merger agreement provide that BIO will merge into a wholly owned subsidiary of VillageWorld and in exchange the shareholders of BIO will be issued shares of VillageWorld's Common Stock that will approximate 55 percent of the outstanding shares of VillageWorld following the transaction, calculated on a fully diluted basis.
About Biometrics 2000
Biometrics 2000 is a company that develops identification and security products that recognize people through their unique characteristics such as fingerprints. Fingerprint readers solve the significant problems associated with traditional access methods from a security standpoint. Fingerprint technology also will be preferred in the future over other methods such as smart cards, magnetic stripe cards and conventional keys, all of which can be lost or stolen.
About Digital Healthcare, Inc
Digital Healthcare's core function is to automate an insurance procedure called COORDINATION OF BENEFITS. In a free market for health insurance, largely treated as an employee benefit, it is possible for a person to have more than one coverage in force at the same time. The problem of multiple coverage is solved by a simple set of rules that have one payer calculate his liability first, and then the next, and so forth until there are no more payers on duty for a given patient on a given day.
About VillageWorld.com
VillageWorld.com's subsidiaries, VillageNet, Inc. and Intelligent Computer Solutions, Inc., have ceased operations in preparation for the consummation of the merger of Biometrics 2000 Corporation ("Biometrics") into the Company's wholly owned subsidiary, Biometrics 2000 Acquisition Corporation ("BAC"). The Company is continuing work on certain consulting projects; however, it is anticipated that the operations of the Company following the consummation of the merger will consist of continuing and advancing the business of Biometrics 2000 Corporation.
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among others things, statements about expectations of future revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to consummate the merger, the company's ability to develop its new business, the company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the company's products and services, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.