PEDN NEWS
LEVEL 2 IS LOOKING GOOD!
PediaNet.com Board of Directors Appoints Harold Engel Chief Executive Officer; Seasoned Financial Veteran to Guide Company towards Expanded Growth Objectives
BROOKLYN, N.Y.--(BUSINESS WIRE)--March 19, 2001--PediaNet.com, Inc. (OTC BB:PEDN) a premier provider of pediatric healthcare information to families and professionals, today announced that it has closed its previously announced merger with drpaula.com, Inc. drpaula.com is now a wholly-owned subsidiary of PediaNet. The Board of Directors has also appointed Harold Engel to the position of Chief Executive Officer and concurrently appointed Steve Richter to the newly created position of Chairman of the Board of Directors.
Harold Engel will remain President of drpaula.com and will guide the operations of PediaNet.com in its growth objectives of exploiting the Company's present strategic alliance with iMaternity and exploring other alliance, joint venture and acquisition opportunities.
As previously announced on March 5th, 2001, the Board of Directors was restructured, with new appointments to the Board of Alan Cohen, James Kirsch, and Harold Engel.
"We are thrilled to have Harold and his wealth of expertise leading PediaNet," said Steve Richter, President and Chairman of the Board. "In addition to his astute financial acumen, Harold is a seasoned business professional. We expect him to assist us in continuing our growth while carefully managing expenses to achieve profitability."
"It is with great enthusiasm that I join the PediaNet team," stated Harold Engel. Steve Richter's commitment and contributions to the Company have been invaluable. I look forward to working side-by-side with Steve to expeditiously achieve the goals set forth by the Board."
About PediaNet
PediaNet is a pediatric information system based on Internet solutions and a proprietary pediatric software program. The main distinction that differentiates PediaNet from existing medical Internet sites is the exclusive dedication of the site to pediatrics. PediaNet's primary focus is on the expedient, Internet-based delivery of world-class, up-to-date, state-of-the-art information.
PediaNet's subsidiary, Drpaula.com, is the recipient of numerous parenting, editor's choice and academic excellence awards and is one of the Internet's most widely trafficked pediatric web sites, with an average of over 3 million hits per month, over 1 million page views, an excess of 200 new registered users per week and provides answers to questions related to children's health to more than 60,000 unique visitors monthly while retaining an average visit length of over 15 minutes.
Dr. Elbirt was the Executive Vice President, Secretary, and a director of drpaula.com since its inception in September 1998. She was also an executive officer of Kidsdoc, the predecessor of that company, since January 1997. Dr. Elbirt has been a practicing pediatrician on the Upper East Side of New York for approximately 20 years. She has been a frequent guest on a number of national television shows, including, "The Today Show", "Good Morning America", "CNN Parenting Today" and America's Health Network's "Ask the Pediatrician". In February Dr. Elbirt became a member of the Advisory Board of the "Children's Health and Safety Magazine" and of the "Johnson and Johnson Wound Care Resource Center.
The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company.
CONTACT:
Investor Relations
DeMonte Associates
Cynthia DeMonte, 212/473-3700
cdemonte@demonte.com |
