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Masterpiece Technology Group, Inc. (OTCBB:MPTG) today announced that it signed a Letter of Intent to acquire 100% of the stock of Townsend Medical Management Systems, Inc. Townsend Medical Management Systems, Inc. is a Washington state-based firm that provides practice management systems addressing the needs of today's healthcare providers. Townsend Medical Management's practice management system incorporates integrated scheduling, billing, transcription, inventory control and complete electronic medical record service. The signature of the Townsend system is its scalability, easy-to-use format and its focus on maximizing the medical practice's bottom line. The Company anticipates having in place the web-enabled version of its software during the first quarter of 2000.

The software will offer clients access to their practice management systems on a World-Wide basis, as well as significantly improving the bottom line through a higher operating efficiency model.

Terms of the agreement with the privately held Townsend were not disclosed.

Masterpiece Technology Group President Dr. Newell Crane said, &uot;The acquisition of Townsend is a critical component of the next generation web-enabled software suites we are committed to provide the medical industry. Townsend will complement our current technology portfolio and offer a compelling competitive advantage over other packages now on the market. We also will welcome Dr. Coyne to Masterpiece as its new Director of Medical Software Strategy.&uot;

&uot;Our decision to join Masterpiece Technology Group stems from its commitment to provide the kind of technological excellence that produces a stronger bottom line and builds upon my years of experience as a practicing physician as well as a business manager. I believe that we should be able to contribute approximately $600,000 in revenues over the next twelve months, upon the signing of a definitive agreement,&uot; stated Dr. William Coyne, M.D., President of Townsend Medical.

Dr. Coyne is currently on the Masterpiece Technology Board of Directors.

Masterpiece Technology Group, Inc., an Ohio-based company, (OTCBB:MPTG) provides a suite of comprehensive software and technical software solutions for medical office management, physician financial and clinical outcome analysis and medical practice guidelines.

# posted by Medical Information : 5:30 AM