Still more news and the stock is recovering bit by bit.
News article received, Wednesday, July 14, 1999 6:42:16 PM EST
MedcareOnline.com To Offer Proprietary Screening Tests for Diabetes, Prostate Cancer and Heart Disease
OAK BROOK, Ill., Jul 14, 1999 (BUSINESS WIRE via COMTEX) -- MedcareOnline.com, Inc., a wholly owned subsidiary of MedCare Technologies, Inc. (NASDAQ: MCAR), today announced plans to offer easy-to-use self-administered home-screening tests in collaboration with eBioSafe.com, which has granted MedcareOnline.com worldwide rights.
To be made available exclusively through MedcareOnline's health portal, these proprietary tests use unique micro-sample blood testing technology to perform highly accurate diagnostic testing in the battle for early disease detection and improve long term disease management for the healthcare industry. Tests for cholesterol, osteoporosis, prostate cancer, and diabetes health management will be analyzed at CLIA certified BioSafe Laboratories and results will be reported to the consumer through a physician network.
"We are extremely pleased to announce this partnership with MedcareOnline, a leading health portal site," states Richard Jacobsohn, President of eBioSafe.com. "We strive to find the best partners to advance awareness of health and wellness issues to empower the individual to take control of their own health. By working with MedcareOnline, we can greatly expand our mission and scope on a global basis."
Mr. Menendez, President and CEO of MedCareOnline.com, said "MedcareOnline.com represents a significant opportunity for the healthcare marketplace as a specialized vehicle for distinctive target audiences through a single portal. Our diagnostic tests will cover a very large cross section of the healthcare market. Diabetes affects 15 to 16 million people just in the United states, with another 8 million that are undiagnosed. This year, about 180,000 men will be diagnosed with prostate cancer, accounting for 29% of new cancer cases in US males, and nearly one million will die from heart disease. The need for accurate diagnostic tests that are available that are readily available through the Internet is obvious."
Mr. Menendez continues, "We're aggressively targeting the healthcare consumer and patient markets through the integration of multiple healthcare resources to provide a single 'Medseek' vehicle that will organize and facilitate access to the Internet through a single access point. Each of our target markets represents an opntial partnerships with leading healthcare providers, thus providing tremendous returns for our investors."
ABOUT MEDCARE
MedCare Technologies, Inc. is a healthcare technology service company offering services that improve the way physicians operate in today's changing environment. MedCare has a successful record of identifying and filling lucrative, untapped commercial voids, including the development of the MedCare Program, a non-drug, non-surgical treatment for patients suffering from Urinary Incontinence (UI). In association with hundreds of physicians nationally, MedCare is now the largest and fastest growing network of offices treating UI in the United States.
In addition, through its wholly owned subsidiary, Medcareonline.com. Inc., MedCare is providing an Internet Healthcare Portal for physicians. The portal will simplify healthcare practices by integrating multiple administrative, communication and research functions into a single, easy-to-use Web-based solution. Medcareonline has joined together with industry leaders to create a Medical Informatics solution for physicians where they can address their information and services needs through the Internet.
THE HEALTH.NET INDUSTRY
In a recent institutional research report entitled "The health.net Industry", Hambrecht & Quist analysts Stephen Fitzgibbons and Richard Lee state, "We believe the Internet will dramatically change how information flows and how people and organizations interact in healthcare. As an inexpensive, ubiquitous, and flexible technology, the Internet will be used to streamline current processes, enhance the quality of care, and create entirely new ways of conducting business. Individual participants, such as patients and physicians, will benefit from the Internet's strength as an information source and a communications medium. Companies that successfully deploy Internet-based strategies will grow revenues and decrease costs at the expense of their less advanced competitors....Health.net companies, in our opinion, will be a driving force behind this change and reap the rewards of progress."
The companies mentioned in this report include Eclipsys, HBO & Co., now part of McKesson, IDX Systems, mediconsult.com, OnHealth Network, Healtheon Corp. (NASDAQ: HLTH), Yahoo!, AOL (NYSE: AOL) and drKoop.com NASDAQ: KOOP).
FOR ADDITIONAL INFORMATION
For additional information on MedCare Technologies, including recent analyst reports, please contact Mr. Bill Mann at 800-611-3388 or visit our website at medcareonline.com
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, changes in insurance reimbursement, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. |
