REH and ALL:
Medix Settles Lawsuit With Andrx
DENVER, Feb. 24 /PRNewswire/ -- Medix Resources, Inc. (OTC Bulletin Board: MDIX - news) and its wholly owned subsidiary Cymedix Lynx announced today that they have entered into a settlement agreement with Andrx Corporation (Nasdaq: ADRX - news) and CyBear, Inc.(OTC Bulletin Board: CYBR - news) a company which is majority owned by Andrx. This dispute resulted from Medix's and Cymedix's claim that CyBear, Andrx and certain officers of those companies unlawfully appropriated Medix's computer software and improperly used that software in the development of CyBears' healthcare software. The settlement amount was for $125,000.
Medix President and CEO, John P. Yeros said, ''We felt it was in the best interest of Medix and its shareholders to settle this matter on the terms we did, rather than continuing to devote time and resources to this litigation.''
Denver based Medix Resources, Inc., through its wholly owned subsidiary Cymedix Lynx Corporation of Thousand Oaks, California, offers several fully secure patent-pending Internet medical communications products, using an Internet commerce business model. The Company's core business also provides skilled nursing, therapy, rehabilitation and other medical personnel for flexible staffing in home care and in a broad spectrum of healthcare and educational facilities.
''Safe Harbor'' Statement under the Private Securities reform Act of 1995: The Statements contained in the release which are not historical contain forward-looking information with respect to plans, projections and/or future performance of the Company, the occurrence of which involve certain risks and uncertainties detailed in the Company's Form 10K-SB for 1997 and Form 10-QSB for its third quarter of 1998 that were filed with the Securities and Exchange Commission on March 30, 1998 and November 12, 1998. Such information is available from the SEC or from the Company.
SOURCE: Medix Resources, Inc.
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