October 02, 2000 07:14
Stayhealthy to Acquire MyLife.com and Join idealab! Network of Companies
MONROVIA, Calif.--(BUSINESS WIRE)--Oct. 2, 2000--
idealab! to Have Significant Equity Stake in Combined Company
Targeting Web-based Health Services Industry
Stayhealthy Inc., a leading online company dedicated to empowering consumers to monitor their health and fitness, today announced that it has signed an agreement to acquire MyLife.com, a Web-based resource for life optimization services created by idealab! As a result of the transaction, idealab!, a leading creator and operator of Internet businesses, will obtain a significant equity position in Stayhealthy and will launch its first Web-based company targeting the health-care industry. Terms of the deal were not disclosed.
The companies announced that Stayhealthy will develop MyLife.com's services, which include personalized, secure on- and off-line life programs using technology, expert content, feedback, community and commerce for individuals pursuing peak performance and personal satisfaction, and offer them with Stayhealthy's innovative Web-enabled products and services. MyLife.com founding executive Andrew Skarupa and the company's other employees will join Stayhealthy. Skarupa will become chief financial officer, executive vice president of finance and Internet chief operating officer, and Bill Gross, founder and chairman of idealab!, will join the board of directors of Stayhealthy.
"We identified Stayhealthy as an excellent partner for MyLife.com because of its strong foundation in the Web-enabled products industry, outstanding strategic and marketing partnerships and innovative technologies," said Gross. "As we combine these two teams, supported by the knowledge, operating experience and resources of idealab!, we will accelerate the opportunity to provide consumers with the tools to manage and improve their health."
"idealab!'s commitment to innovation and leadership in Web commerce and technology make it an ideal partner for Stayhealthy," said John Collins, CEO of Stayhealthy. "We will work aggressively to achieve MyLife.com's goals and, through collaboration will Bill Gross and the idealab! team, continue to build Stayhealthy into the premier healthy lifestyle brand that has been our objective since the company was founded."
Stayhealthy's products include the BC1 Body Composition and Calorie Tracker, a simple desktop device that allows users to accurately monitor their body composition and measure caloric burn. An accurate and convenient tool for weight management, beauty or fitness programs, the BC1 works with Stayhealthy software to connect users to the Stayhealthy BC1 Web site through their existing Internet connection and view performance graphs, news and other personalized information in a secure, password-protected environment.
The company also produces the RT3 Triaxial Research Tracker, an activity measurement device used in medical, university and clinical studies. Stayhealthy's products are available with comprehensive health information and resources through the company's popular health information Web site at www.stayhealthy.com.
About Stayhealthy
With headquarters in Monrovia, Stayhealthy is a leader in developing and marketing Web-enabled products and services that empower consumers to screen, assess and monitor their health. The company's proprietary programs are accessed through its comprehensive health Web site that features a comprehensive drug database; original health, nutrition and fitness content; and e-commerce.
For more information, contact Stayhealthy at 626/256-6152 or visit the Stayhealthy Web site at www.stayhealthy.com.
About idealab!
idealab! (www.idealab.com) creates, builds and operates Internet businesses that satisfy unmet market needs. Founded in March 1996 by Bill Gross, idealab! generates ideas for new Internet businesses and creates, capitalizes and establishes a separate company to conduct each new business. Actively participating in the ongoing operations of its network companies through board representation, information sharing and facilitating collaboration among the companies, idealab! also recruits management to oversee day-to-day operations and to concentrate on the rapid execution of the business plan.
Additionally, idealab! provides each operating company strategic guidance as well as assistance in sales, marketing and brand management, executive recruiting, Web development and information technology, and legal, finance, accounting and human resources. idealab! public companies include eToys (Nasdaq:ETYS), GoTo.com (Nasdaq:GOTO), Ticketmaster Online-CitySearch (Nasdaq:TMCS), NetZero (Nasdaq:NZRO) and Tickets.com (Nasdaq:TIXX).
idealab! has headquarters in Pasadena, Calif., and has offices in Silicon Valley, New York, Boston and London.
CONTACT: Stayhealthy Inc., Pasadena
Peter Bylsma, 626/256-6152
pbylsma@stayhealthy.com
or
Alexander Ogilvy Public Relations (for idealab!)
Michelle Parkinson, 310/407-7800
mparkinson@alexanderogilvy.com |
