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Microcap & Penny Stocks : Rande Is. . .FISHING. . [under $1.50] -- Ignore unavailable to you. Want to Upgrade?

To: Bucky Katt who wrote (2391)	6/23/1999 9:19:00 AM
From: flyboy	Read Replies (1) \| Respond to of 4766

PHMX name change is coming early news release>>> Wednesday June 23, 8:01 am Eastern Time Company Press Release SOURCE: PhyMatrix Corp. PhyMatrix Corp. Changes Its Name to Innovative Clinical Solutions, Ltd.; Stock Symbol Changed to ICSL PROVIDENCE, R.I., June 23 /PRNewswire/ -- PhyMatrix Corp. (Nasdaq: PHMX - news) announced the official change of the Company name to Innovative Clinical Solutions, Ltd. (Nasdaq: ICSL - news), effective Monday, June 28, 1999. The name change reflects the repositioning of the Company along three primary business lines: ICSL Clinical Studies, which includes clinical research, ICSL Healthcare Research, which includes outcomes research services, disease management programs and post-marketing support programs and ICSL Network Management, which includes provider network services including support of the Company's specialty and multi-specialty physician networks and IPAs. The key objective of the repositioning is to provide strategic integration between these business lines, thereby providing a conduit for the efficient transfer of product and disease specific information that links the needs of the pharmaceutical and managed care companies. ICSL's new structure better positions the Company to establish vital links between clinical research and medical management to meet the changing paradigms of the healthcare industry. The Company's objective is to positively impact the drug development timeline to provide patients and physicians with increased access to next-generation treatment solutions. Uniting these entities via its proprietary information technology and work processes, ICSL's goal is to assist both pharmaceutical and biotechnology companies to accelerate the availability of marketable drug therapies, while assisting providers to improve medical management strategies for optimum economic and clinical outcomes. Effective Monday, June 28, 1999, the stock symbol for the Company will change from PHMX to ICSL on the Nasdaq Stock Market. The name change does not require current stockholders to surrender stock certificates. All new certificates issued will bear the Innovative Clinical Solutions, Ltd. name. Michael Hefferman, President and Co-CEO of ICSL commented, ''The name Innovative Clinical Solutions more accurately describes the Company structure and mission to accelerate healthcare solutions by uniquely integrating clinical research with healthcare management. We recognize the critical importance and have developed the proper infrastructure that supports our strategy of leveraging core competencies in order to service the needs of pharmaceutical and managed care companies.'' PhyMatrix Corp., headquartered in Providence, Rhode Island, provides services that support the needs of the pharmaceutical and managed care industries. The Company integrates its pharmaceutical services division with its provider network management division to create innovative solutions for its customers. The Company's services include clinical and economic research and disease management, as well as providing managed care functions for specialty and multi-specialty provider networks. The Company's components include Clinical Studies, Ltd., a wholly owned subsidiary, which operates dedicated, multi-therapeutic phase I-IV research facilities, and its provider network management division which manages over 9,000 physicians in networks located across the country. By integrating these divisions, the Company is able to provide a broad range of pre- and post-FDA approval services designed to expedite new pharmaceutical product approval and market acceptance. This press release contains forward-looking statements regarding future events and the future performance of ICSL that involve risks and uncertainties that could cause actual results to differ materially. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission.