TEMECULA, Calif., Oct. 27, 2004 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that its portfolio investment company, Securesoft Systems, has completed the development work on its comprehensive HIPAA compliance software solution and is scheduled to launch the product on November 15, 2004.
The compliance software program is the result of several years of development and work done in the field with both alpha and beta versions of the product. Through over 50 installations of the Securesoft product in healthcare facilities and hospitals around the country and the interactive work with those installations, Securesoft has the first comprehensive HIPAA compliance program that is targeted towards large healthcare facilities and hospitals.
Chris Bickel, Chief Executive Officer of S3 Investment Company, commented, "This product launch is the culmination of three years of work in the development application and interaction with the healthcare field. In the field of healthcare regulatory compliance, there is not another product on the market that is a truly comprehensive compliance tool that allows full compliance with HIPAA regulations.
"Discussions with several potential partner/distributors are underway, and Securesoft expects to have a complete distribution channel in place by January 01, 2005. The target market for this product is large healthcare facilities throughout the United States that are subject to compliance regulations. The channels to those end-use customers are direct distribution and OEM distribution through third party suppliers, which include the major hardware/software suppliers to these very same large healthcare facilities.
"After several years of investment into this unique product, S3 Investment Company expects to see revenues for the Securesoft subsidiary begin immediately upon release of this product," added Mr. Bickel.
Company Profile
S3 Investment Company, Inc. (http://www.s3i.us) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems, Inc. (http://www.securesoftsystems.com) was acquired in April 2003 and is a leader in compliance and risk management software, services and Internet technologies for regulated industries. S3 is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
This release contains forward-looking statements which involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements are based on currently available information which management has assessed but which is dynamic and subject to rapid change due to risks and uncertainties that affect our business, including, but not limited to, the impact of competitive products and pricing, limited visibility into future product demand, regulatory interpretation, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.