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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (674)	7/12/1999 12:05:00 AM
From: David Raine	Read Replies (2) \| Respond to of 5053

Medsite.com attracting more money... FARMINGTON HILLS, Mich., Jul 1, 1999 /PRNewswire via COMTEX/ -- An innovative venture capital fund specializing in providing growth capital for expanding health care companies, has made its first investment. InvestCare Partners Limited Partnership, managed by Farmington Hills-based GMA Capital LLC, has invested $2 million dollars of preferred stock into Medsite.com, a New York-based electronic-commerce site for health care professionals. InvestCare was introduced to the company by one of its investors, a physician from Oakwood Enterprises Inc., an affiliate of Oakwood Healthcare Inc. "The Internet and electronic commerce are propelling healthcare intothe next century," says Rajesh Kothari, Director of GMA Capital. "Medsite.com has the combination of management talent and market presence that are critical for success." Medsite.com is a leading provider of e-services and products to the medical community via the Internet. Its offerings to doctors, pharmaceutical companies and other healthcare professionals include: * MedBookStore -- offering over 90,000 medical books at discount prices plus thousands of rare texts and medical software titles. * Medsupplies -- Offers the widest of medical products on the Internet at discount prices. * Journal Tracker -- a cost-effective, user-friendly service for monitoring the world's leading medical journals through the Internet. * MedMail -- A free web-based e-mail service with easy access from wherever you are. * MedMoney -- The most comprehensive physician financial network on theInternet. * MedCalendar -- Features a complete suite of services to organize schedules and appointments. * MedUniversity -- features a comprehensive library of interactive education courses online. "I am very pleased that Medsite.com is the first equity investment of InvestCare Partners," said Sundeep Bhan, Co-founder and CE0 of Medsite.com, Inc. "As the leading provider of e-services to healthcare professionals, this $2 million equity investment will help ensure that Medsite.com continues unveiling innovative e-commerce solutions to the medical community." InvestCare provides growth capital in the form of non-controlling equity in established healthcare companies located throughout the United States. The fund has initial capital of approximately $50 million and expects the total to reach $80 million. The fund is focused on three segments of the burgeoning health care marketplace: * Health Care Services, particularly those affected by the trend towardoutsourcing; * Infomedics and enhancements in existing information technology; and * Medical device and products manufacturers. Principal members of the InvestCare Partners Limited Partnership include Charles Rothstein, Malcom Moss, David Eberly, Rajesh Kothari, and LeslieShipley. GMA Capital, LLC specializes in mergers, acquisitions, divestitures and capital raising for privately held companies. Through InvestCare Partners, GMA also provides capital for health care companies to expand through internal growth, product line development and acquisitions, with a focus on the areas of healthcare related technology, medical devices and products and healthcare services. For more information on the InvestCare Partners Limited Partnership, please call 248-851-9200. Medsite.com is headquartered in Silicon Alley at 60 East 13th Street, New York, NY 10003. The company's telephone number is 212-253-6913; e-mail can be directed to info@medsite.com. Additional information about Medsite.com and a description of the e-services they offer can be found at www.medsite.com.