Recovery Network, Inc. and TCI Digital Health in Joint
Venture With FHC Internet Services
Business Wire - November 03, 1998 13:56
SANTA MONICA, Calif.--(BUSINESS WIRE)--Nov. 3, 1998--
Group to Deliver Behavior Healthcare Services Via Internet
Recovery Network (NASDAQ: RNET) announced today that its joint venture with TCI Digital
Health Services, a subsidiary of Liberty Media Group (NASDAQ:LBTYA) entitled RecoveryNet
Interactive, has expanded its partnership to include FHC Internet Services, an affiliate of FHC
Health Systems, Inc. to provide behavioral health services via the Internet.
RecoveryNet Interactive will be recapitalized by its members at approximately $10 million.
RecoveryNet Interactive will provide state-of-the-art, digitally-delivered behavioral healthcare
services (Recovery Interactive Services) to managed care agencies, HMOs, Employee Assisted
Programs (EAPs), corporations and local, state and federal governmental agencies providing
healthcare services on a monthly fee basis via an Intranet, as an enhancement to an EAP. The
Company will also offer these services to the public via the world wide web.
Bill Moses, Chairman of the Board of Recovery Network, said, "The strength of our partners
provides RecoveryNet Interactive with a competitive advantage in offering a new Internet-based
business with compelling economics."
RecoveryNet Interactive was launched earlier this year and currently features a weekly news service
culling over 1,500 sources giving timely news and information pertaining to many behavior issues
including substance abuse, depression, eating disorders, domestic violence and many other familial
and personal issues. The site also offers monthly chat rooms featuring the world's leading authorities
on these problems, many of whom are on Recovery Network's Board of Advisors. The chat rooms
are promoted on a leading Internet provider, Yahoo!.
The Recovery Network, Inc. is a digital media company comprised of its cable television network,
Internet, and telephony platform to provide social and behavioral health programming, products and
services to a national audience. The Company's primary market are those affected by social and
behavioral problems that effect 100 million Americans at a cost to the economy in excess of
one-half trillion dollars, annually, in increased healthcare cost, crime and lost productivity.
The Recovery Network is located on the Worldwide Web at www.recoverynetwork.com.
This document contains forward-looking statements including with respect to the Recovery
Network's programming and distribution strategies. A discussion of certain risks and other
uncertainties that could cause the Recovery Network's actual results to differ materially from those
anticipated is contained in the documents the Company files from time to time with the Securities
and Exchange Commission.
For further information, visit our website at
stockprofiles.com.
This release and prior releases are available on the KCSA |
