MITSUI ENTERS U.S. HEALTHCARE MANAGEMENT OPS VIA US$61.4 MLN BUY

Wed. July 02, 2008; Posted: 02:48 AM

TOKYO, Jul 02, 2008 (AsiaPulse via COMTEX) -- USHCB | Quote | Chart | News | PowerRating -- Mitsui & Co. (TSE:8031) is entering the U.S. market for providing services to hospital managers, taking a 47 per cent stake in Pennsylvania-based MED3000 Group Inc. for about 6.5 billion yen (US$61.4 million).

MED3000 assists healthcare managers by offering such services as requesting bill payments from insurers. The trading house will dispatch four directors to the U.S. firm.

Established in 1995, MED3000 has built its business around developing computer information systems for accounting purposes and storing medical records online. It then expanded the business by carrying out billing services for hospitals.

Mitsui will consider introducing MED3000's know-how to Japan and other Asian countries. For its part, MED3000 had wanted to enter the Asian market.

(Nikkei)

For full details on Mitsui and Company Ltd. ADS (MITSY) click here. Mitsui and Company Ltd. ADS (MITSY) has Short Term PowerRatings of 4. Details on Mitsui and Company Ltd. ADS (MITSY) Short Term PowerRatings is available at This Link.

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