Plexis ’03 Revenues Jump 160%

System Installations More than Doubled as Profit Performance Continues

Ashland, Oregon – January 27, 2004 Plexis Healthcare Systems, Inc. announced today another profitable year with record revenue for 2003. The company’s total revenues increased 160 percent over 2002, which was a record year itself when revenue grew by 98 percent.

Total installations of Plexis systems more than doubled in 2003. Liquidity ratios improved at the same time debt as a percentage of equity significantly declined. The company also made an all-cash acquisition of Logical Claims Solutions (LCS), a nationwide healthcare technology company, headquartered near Chicago. LCS provides claims processing software for small businesses.

In recent months, the company has taken steps to strengthen its sales and marketing efforts by naming two industry veterans, Sean Garrett as Vice President of Sales, and Paul Christensen as Director of Marketing. Garrett brings over 20 years experience in various information technology (IT) capacities to his position, the last five spent with Plexis. Christensen has over 20 years experience in IT sales and marketing in the Silicon Valley with Hewlett-Packard. Most recently he was a worldwide marketing manager in HP’s services organization.

In 2003, the company received recognition as the leader among fifteen prominent Managed Care Information Systems (MCIS) companies in an independent nationwide survey. Its core claims processing software application, Plexis Claims Manager, reduces administrative costs for clients and provides auto-adjudication rates of 90 percent and higher. The Plexis product suite offers payers, benefit administrators and health plans the automation to process accurate claims, referral authorizations, benefit administration, and contract management in seconds.

Jorge Yant, president and CEO of Plexis Healthcare Systems, attributes the record results to hard work by the entire Plexis team. “We have a smart, innovative team and the industry is recognizing that we have a superior software product, built on affordable open architecture. These two factors, a talented team creating and implementing a powerful product, are responsible for our record revenue volumes.”