RealTime IT News

CitX Spins-off IntraMedX Corp.

Quakertown, PA-based e-commerce application company CitX Corp. said it formed a new independent subsidiary called IntraMedX Corp. "to more effectively target the healthcare market segment."

IntraMedX will take over from CitX all development, marketing, and management functions for the Internet-based Practice Management System, online subscription-based medical e-commerce services, and related vertical B2B portal services.

CitX will have 10 percent equity ownership in IntraMedX, and is being privately funded by its founders and selected venture partners. Bernie Roemmele, CEO, chairman and founder of CitX, will become CEO and chairman of IntraMedx. The new company's corporate offices will be based in Pennsylvania, with sales offices to be opened in Florida, Texas, and California within the next 12 months.

"For the past two years, CitX has been profitable and growing near 100 percent per quarter, delivering cost-effective Internet-based e-commerce and Web-hosted vertical software solutions to the healthcare market", said Roemmele. "We are now ready to launch into our national marketing plan to effectively become the technology and market leader in the deployment of Internet-based integrated e-business solutions for the healthcare market."

IntraMedX customers primarily include traditional and alternative medicine practitioners, hospitals, managed-care, insurance and pharmaceutical companies, nursing homes, and assisted-living facilities. The company markets its services through VAR's, system integrators, strategic alliance partners, and its internal direct sales force. Revenue is derived primarily from the delivery of Internet-based transactional fee-for-use online e-commerce services and subscription-based vertical software solutions, such as the IntraMedX Web-based Practice Management system.