To: DOUG H who wrote (29978 ) 8/24/1999 1:51:00 PM From: MasonS Respond to of 41369
HEALTHQUICK.COM AND AOL JOIN FORCES 8/24/99 11:50:04 AM DULLES, Va., Aug 24, 1999 /PRNewswire via COMTEX/ -- HealthQuick.com made its debut today as the premier provider of vitamin and health care products on America Online. Subscribers to the world?s leading interactive service can now type inthe keyword "Healthquick" to get direct access to the lowest prices on or offthe Internet on health and skin care products. HealthQuick.com, "the never never undersold drugstore," is now available across five AOL services, including AOL and CompuServe?s combined 20 million subscriber members. HealthQuick.com is also accessible to visitors of AOL.com, Netscape Netcenter, and Digital City. Under the terms of the two-year deal, America Online will own five percent of HealthQuick.com and receive guaranteed minimum payments totaling $10 million. The partnership provides HealthQuick.com with the premier status as well as advertising equal to 250 million page views annually. As part of the agreement, HealthQuick.com will provide regular special and promotional offers to AOL members and other Internet customers, with at least one exclusive offer available at all times. HealthQuick.com CEO Herbert H. Haft says the AOL partnership is significant for the online discount retailer, which launched its Web siteon the Internet last month. "America Online is setting the standard and direction for the growth of e- commerce," Haft said. "The AOL family of brands attracts millions of people who have proven time and again that they are looking for ways to use the Internet to make their lives easier. AOL provides us with a tremendous audience, and we are excited about the opportunities this partnership will provide HealthQuick.com." Haft says convenience and low prices make HealthQuick.com different from traditional and other online health care retailers. "HealthQuick.com has the lowest prices on the health-related products consumers use everyday. If you compare HealthQuick.com to its online competitors as well as all of the brick-and-mortar drugstores, you?ll find that its prices can?t be beat," he said. HealthQuick.com President Howard Diener says the demand for health products is expected to increase ten percent annually as patients and medical professionals seek better and more cost-effective solutions for their health careneeds. "Convenience will certainly continue to be at the heart of the e-commerce revolution, but we think that a growing segment of the online mass market is also looking for a cheaper way to purchase everyday items. With the high cost of health-related items in particular, we?re sure the combination of convenience and low prices will make HealthQuick.com number one in this field." New Horizons Venture Capital has invested $20 million in HealthQuick.com in the form of convertible preferred stock representing 30% of the Internet company. The Washington, D.C. private equity firm intends to expand HealthQuick.com?s growth through international distribution and marketingpartnerships. SOURCE HealthQuick.com Mason