medEra Life Science Corp -
medEra to develop e-medicine site with Ericsson
medEra Life Science Corp MER
Shares issued 8,328,459 1999-03-09 close $1.98
Wednesday Mar 10 1999
Dr. Michael Pezim reports:
medEra Life Science Corporation and Ericsson Communications Inc. announced today they will form a strategic alliance to develop an Internet-based health and healing information centre, medbroadcast.com, and other e-medicine initiatives. The agreement could be worth up to $4-million (U.S.) during the first year.
Under the agreement Ericsson will provide the technical project design and management, overall site architecture, advertising module development, e-commerce, pharmaceutical and content engines, as well as strategies for scalability, storage and delivery, and systems for international live event transmission. Under the agreement's term, Ericsson will be compensated through a combination of cash and convertible debt (additional information follows).
"We are delighted to partner with Ericsson in the health net industry and the field of e-medicine. Ericsson's technical capability, aggressive project management and network of IP experts was amply demonstrated during the recent on-time completion of our medbroadcast.com prototype," said Dr. Michael Pezim, chairman and president of medEra Life Science Corporation. "With health net opportunities developing at an unprecedented rate, we need a technical partner that can understand and rapidly deploy our most creative ideas. Our skills have proven to be complementary and we are confident that Ericsson will be able to help place us at the forefront of the health net and e-medicine fields."
"Ericsson is excited about the opportunity to provide medEra with the tools it needs to develop its e-medicine initiatives," said Brian Barry, president and chief executive officer, Ericsson Canada. "E-medicine is an industry with enormous growth potential and an important target market for us. Our partnership with medEra will help us gain experience in clinical medicine, medical systems administration and government medical systems."
Ericsson Communications Inc., a subsidiary of LM Ericsson, Sweden, serves the Canadian market by providing complete communication solutions including wireless systems and solutions, mobile phones, IP and data systems and solutions and consulting services. In addition, its research and development centre in Montreal has the worldwide mandate for software development for the global wireless standard TDMA and is Canada's seventh largest research and development investor. Ericsson employs more than 1,500 people and has offices in Montreal, Mississauga, Ont., Vancouver, Ottawa, Calgary, Fort McMurray, Alta. and Waterloo, Ont.
Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with the freedom of mobility for the user. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for its customers - network operators, service providers, enterprises and consumers - the world over.
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