In connection with these transactions, HALIS has invested $125,000 in HealthWatch, a group of private investors is investing $500,000 in HealthWatch, and HealthWatch has made an investment in HALIS by the exchange with certain HALIS shareholders, including Paul Harrison Enterprises Inc.
In addition, Paul Harrison, chairman of the board, CEO and president of HALIS and Larry Fisher, executive vice president, chief administrative officer of HALIS are joining the HealthWatch board of directors.
HALIS is a rapidly-growing healthcare information company, having grown from $2 million in revenues in 1996 to a current run rate of more than $20 million per year.
The HALIS Healthcare Enterprise System uses an advanced multimedia object and relational database design as its technology base, which significantly reduces the traditional programming that other systems require.
An Integrated Healthcare Delivery Network may use all eight of the products within the Enterprise System, while a single physician practice may only use the HALIS Practice Management System.
The lawsuit, which is seeking more than $1 million in damages, also named as defendants HALIS principals Larry Fisher, president and chief operating officer, and Paul Harrison, chairman and chief executive officer.
Shortly after the Agreement's effective date, Sellers introduced Fisher to Paul Harrison, then the principal with HALIS LLC.
Prior to the mergers and acquisitions that resulted in the company now known as HALIS, Inc.