This stock may be good for a pop, and note the narrow 52 week range.
last 1.25, 52 week high of 1.55 low of 1.23
ECOMPARK INC ("EKP-Y")
- To Invest in Internet Medical Software Company
(Not for dissemination or distribution in the United States of
America)
EcomPark Inc. (formerly Storage One Inc.)("EcomPark") announced that it has entered into a letter
of intent pursuant to which it has agreed to make an investment into Healthscreen.com
Inc.("Healthscreen.com") , an Internet-based electronic medical record software company located in
St.Catharines, Ontario. EcomPark has agreed to purchase 10 percent of the outstanding common
shares of Healthscreen.com for $250,000 in cash. EcomPark has also obtained an option to acquire
an additional 30 percent of the issued and outstanding common shares of Healthscreen.com to be
paid by the issuance of 700,000 shares of EcomPark.
Healthscreen.com provides physicians with software products and connectivity solutions that
promote efficiency, lower practice costs and improved patient care. Healthscreen.com provides a
complete network infrastructure that connects the physician's desktop to hospitals, laboratories,
insurance companies and healthcare providers. In order to lay the fundamental support for this
network, Healthscreen.com has developed a practice management software package that supports
complete electronic connectivity and reduces operating overhead.
Some of the benefits for users of the Healthscreen.com product include the ability to create lifetime
patient health records, the ability to bill the Ministry of Health electronically, receive online lab results
and send electronic prescriptions to pharmacies.
Dr. Bruce Rosenberg, President and Chief Executive Officer of Healthscreen.com stated:
"Physicians direct over 75 percent of healthcare spending and most of the patient data in this
country. We believe that whoever controls the doctor's desktop will control the future of healthcare
information technology and networks. Our focus is on demonstrating to physicians how they can
benefit from network connectivity."
Dr. Rosenberg continued: "We believe that Healthscreen.com is perfectly positioned to control a
large segment of physician desktops. We have grown into one of the largest physician software
companies in Canada. When our user base reaches critical mass, we will connect these doctors and
other stakeholders to create a national health network. What makes Healthscreen.com unique is that
we truly understand how and why physicians control the destiny of any healthcare network.
Understanding that doctors are the key to creating a network and then demonstrating the benefits of
our product to them is a major strength of Healthscreen."
In addition, an important Healthscreen.com belief is that patients, not organizations or providers, are
the center of the healthcare universe. Healthscreen.com's solutions reinforce patient rights and
promote individualized care.
John A. McMahon, Chairman of EcomPark Inc. said: "We believe that the Healthscreen.com
solution is the right product to entice physicians to store and share information electronically. The
Healthscreen.com opportunity is a perfect fit for EcomPark. We will help them build their national
health network through our wholly-owned e-commerce development subsidiaries and we will
continue to assist in funding their development along the way."
Dr. Rosenberg concluded: "We chose EcomPark as our venture partner due to their technological
expertise and their ability to help us build our national healthcare extranet. EcomPark's intellectual
and venture capital capacity separates them from other venture firms that we have encountered. We
are very excited about our partnership with EcomPark and look forward to being part of the 'Park'".
Ecompark has reserved a price of $1.50 per share for the 700,000 common shares to be issued
pursuant to the proposed investment in Healthscreen.com. The completion of this proposed
investment is subject to regulatory approval and EcomPark is required to file a formal application
with the Alberta Stock Exchange within 14 calendar days of this press release. The completion of
the proposed investment is also subject to several additional conditions precedent, including the
receipt of all necessary regulatory approval, satisfactory completion by EcomPark of a due diligence
review of Healthscreen.com, board of directors approval, the entering into a formal subscription
agreement and option agreement among the parties.
EcomPark also announces that it has reserved a price of $1.50 per share for 56,666 shares to be
issued as a finder's fee to Yorkton Securities Inc. in connection with the proposed investment in
Healthscreen.com.
EcomPark is a fully integrated internet company incubator. EcomPark provides the venture capital,
creative resources and technical expertise required to guide internet and digital companies through
each step of the business lifecycle.
EcomPark's two wholly-owned subsidiaries, Generation Net and Rollercoaster Studios Inc. provide
Web development services, e-commerce solutions, strategic Internet consulting as well as develop
Internet media assets for EcomPark.
EcomPark's venture capital division makes investments and takes ownership positions in promising
start-up companies that want to promote and sell their products over the Internet. EcomPark has
made two investments to date and continues to seek strategic financing opportunities.
EcomPark also provides proven storage technology peripherals and devices to value added
resellers, systems integrators and original equipment manufacturers. EcomPark is currently revising
its business model to harness the distribution capabilities of the Internet. Historically, Peripherals
Place (www.peripheralsplace.com) has been EcomPark's Web destination for marketing and
distribution of EcomPark's end-of-line products and excess inventory, however, the site is currently
dormant. EcomPark intends to create a total e-commerce solution through the enhancement of the
Peripherals Place web site to make it the primary vehicle for the sales of EcomPark's data storage
Sorry i couldn't paste a link because its a pay-site. |
