Buying CYBR on strong buy reco, lets see if Taylor Stuart can move this pig;
LONG ISLAND, N.Y., Sep 8, 1999 /PRNewswire via COMTEX/ -- The
following was issued today by Taylor Stuart Financial, a member of the
NASD; CRD # 39025:
Taylor Stuart Financial today releases its research report on
CyberCare, Inc. (OTC Bulletin Board: CYBR) with a strong buy
recommendation in a 3-page research report entitled "Fundamentals
Support Current Valuation: 'Strong Buy.'"
"STRONG BUY"
SHARES OUTSTANDING: 35,000,000
MARKET CAP 40,000,000 (approx. 1x revenues)
PROJECTED 1999 REVENUES $40,000,000 (without CyberCare subsidiary)
PROJECTED 2000 REVENUES $65,000,000 (without CyberCare subsidiary)
PROJECTED 2001 REVENUES $100,000,000 (without CyberCare subsidiary)
CyberCare, Inc.'s (CYBR) corporate mission is to become the premier
source for comprehensive medical and e-commerce services, which will
enable efficient interactions among providers, payors and patients.
CURRENT CORE BUSINESS:
-- Dynamic provider of diversified medical services - Southeastern United
States.
-- 45 rehabilitation centers providing:
Physical and pain rehabilitation
Occupation and speech therapy
Sleep apnea
-- Institutional pharmaceutical services, concentration on adult living
care facilities
-- Proposed e-commerce pharmaceutical site early 2000
-- Largest air ambulance response company in the world with over 17 jets,
servicing all of North America with previous service to China,
Australia, Hawaii, Canada, Latin America, Europe and Africa
CLINICAL e-COMMERCE ACQUISITION
-- August 26, 1999 acquired Atlanta based CyberCare, Inc. and changed name
accordingly.
-- Baseline technologies were developed by Georgia Tech and the Medical
College of Georgia in cooperation w/ the US army and licensed
exclusively to CyberCare, Inc.
-- Interactive Internet-based platform for remote monitoring of patients
and delivery of care and education
-- Portable computer-based system called the Personal Care Management
System (PCMS)
OPINION: CyberCare is the future of "First Contact, First Detection"
Healthcare Services for the chronically ill/critical care (c/c)
patient. Critical Care (c/c) patients are those who need constant
doctor/nurse visits provided by the healthcare payer at approximately
$70,000 per year per patient. Critical Care patients make up the
majority of the 1-% of the population responsible for approximately 30%
of the $100 billion spent annually on Americans enrolled in a managed
healthcare program. These costs are due to repeated cycling through the
healthcare system and include emergency room visits, frequent
doctor/nurse visits, and a disproportionate share of the medical
resources provided to any managed healthcare subscriber.
CyberCare holds the license and recently received "Notice of Allowance"
for 19 claims submitted to the United States Patent Office for
Healthcare Internet Technology that allows doctors and nurses to
monitor chronically ill patients from remote locations via transmission
over the Internet. Important data (vital signs) such as blood pressure,
temperature, and pulse, ECG and blood oxygen levels among others are
gathered and transmitted on a portable computer-based system called the
Personal Care Management System (PCMS),
The PCMS platform provides two way interactive audio and video between
doctors, nurses and support groups for the chronically ill. The ability
to monitor thousands of patients at a central care site will provide
enormous savings to the healthcare payers. The savings will be results
of early detection of deterioration of the chronically ill patient
prior to the need for emergency room visits; short-term hospital stays,
convalescent homes and adult care living facilities.
The PCMS platform will initially sell for $7500.00 per machine with a
profit margin of approximately 40%. CyberCare originally budgeted sales
of 600 machines in their initial roll-out but have expressed the
possibility of many more machines due to the extremely high
concentration of c/c patients as well as the elderly and frail in the
state of Florida. There are approximately 2.5 million c/c patients
excluding the elderly and the frail whose healthcare providers are
forced to spend enormous amounts of money in the monitoring of their
condition as well as the treatments. Should PCMS technology gain 1% of
the 2.5 million c/c patient market, this could translate into several
hundred million dollars in additional revenue as well as earnings of
$1.00 plus per share over the next 18-36 months.
STRATEGIC ALLIANCES:
-- Strategic relationship with NORTEL Networks, Inc. for joint marketing
of CyberCare's homecare solutions throughout North America
-- Exclusive technology license from Georgia Tech and right of first
refusal for all future tele-homecare technologies developed by Georgia
Tech
COMPARABLE MEDICAL e-COMMERCE COMPANIES
MARKET CAPITALIZATION
-- CyberCare, Inc. $40 million
-- Mediconsult.com $390 million
-- Healtheon $6 billion
CONCLUSION: We rate "CYBR" a strong buy both in the near term as well
as for the long term. The potential for PCMS technology is limitless in
an aging society committed to managed healthcare. CyberCare's plans to
expand its Internet pharmaceutical business from institutional only
servicing adult living care facilities to full blown e-Commerce in
early year 2000 offers an additional spoke to the CyberCare wheel.
Our short term price target (3-6 months) $3-1/2
Our long term price target (12-24 months) $7-$10
All investments involve risk. The risk inherent in a particular
security may not be appropriate for you. Please consult with your
Taylor Stuart Financial executive to obtain assistance in selecting
appropriate investments.
This report is published for informational purposes only and is not to
be considered as an offer or the solicitation of an offer to sell or
buy the security. The information contained herein is based on sources
that we believe to be reliable, but we make no guarantee or
representation about the completeness of the statements or summaries of
available data contained herein. This information is provided as of the
date of this report and is subject to change without notice.
Furthermore, the information in this report should be considered
outdated 90 days after publication, or such earlier date as
circumstances may require, and should not be relied upon thereafter to
develop investment strategies. Taylor Stuart does not currently make a
market in the securities of CyberCare, Inc. Taylor Stuart's principals,
employee and clients may currently own shares of the securites of
CyberCare. Taylor Stuart has acted as a consultant/investment banker to
Medical Industries of America prior to its name change to CyberCare,
Inc.
Taylor Stuart is a member of the NASD, SIPC.
SOURCE Taylor Stuart Financial
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com -0-
CONTACT: Irv Minnaker of Taylor Stuart Financial, 800-259-0372
(CYBR)
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