(BSNS WIRE) Mediconsult Announces Strategic Investment By McKessonHBOC and
Mediconsult Announces Strategic Investment By McKessonHBOC and Relationship to
Accelerate Deployment and Adoption of Web-based Applications and Services
Business & Medical/Health Editors
NEW YORK--(BW HealthWire)--May 1, 2000--Mediconsult.com, Inc.
(NASDAQ: MCNS), the leading online provider of information and tools
for physicians and patients, announced today that McKesson HBOC, Inc.,
(NYSE: MCK) has invested $6.5 million to purchase 2.6 million newly
issued shares of Mediconsult.com, Inc. The investment forms the basis
of a relationship through which the two companies will seek to
accelerate deployment and adoption of web-based applications and
services for physicians.
Building upon Mediconsult's physician customer base and Internet
solutions, and McKessonHBOC's suite of web-based clinical and
administrative applications, as well as its broad pharmaceutical
commercialization services, the two companies will explore a range of
mobile applications for handheld devices, pharmaceutical marketing
solutions, online practice management tools, and physician-patient
communications tools.
"This new relationship with McKessonHBOC, a leading provider of
Web-based healthcare applications that are designed to help clinicians
provide better care and enhanced patient satisfaction through improved
information flow, is consistent with our strategy to align Mediconsult
with organizations that are leaders in their sector," said Robert
Jennings, chairman of Mediconsult. "We have a common vision of the
opportunities the Internet provides to the healthcare marketplace and
already have an overlapping client base."
Mediconsult has 213,000 U.S. physician members, which is the
largest community of authenticated doctors on the Internet. In
addition, Mediconsult has 4.4 million visits every month to its
network of healthcare sites. Mediconsult solutions for the
pharmaceutical industry include: eMedEd, Internet-based medical
education for doctors; MediConX, programs to link doctors and office
staff with their patients; MyDoctor.com, 8,300 individual doctor Web
sites; and MediResearch, primary online market research providing
information about physician and patient preferences.
"We envision an interactive healthcare environment in which
real-time information exchange between providers, payors,
pharmaceutical manufacturers and patients results in better clinical
decision-making at the point of care and overall increased
satisfaction with the healthcare system," said David L. Mahoney,
co-president and co-chief executive officer of McKessonHBOC. "We look
forward to leveraging Mediconsult's physician connectivity and proven
value proposition to pharmaceutical manufacturers with our
comprehensive set of clinical and administrative web-based
applications to create an interactive set of Internet offerings for
physicians."
McKesson HBOC, Inc., a Fortune 40 corporation, is the world's
largest pharmaceutical supply management and healthcare information
technology company. Through its Abaton.com business unit,
headquartered in Minneapolis, Minnesota, McKessonHBOC provides a
comprehensive suite of web-based applications that supports all the
clinical processes of ambulatory clinics: lab order entry and results
reporting, electronic prescribing within formulary guidelines, task
management and medical record documentation. In addition,
McKessonHBOC's online services include practice management; online
claims and statement processing; electronic remittance advice;
eligibility; materials and supply ordering; patient education; and
services designed for other general financial management and
communication.
Mediconsult (www.mediconsultinc.com) is the leading Internet
provider of healthcare solutions, interactive tools, and online
clinical discussions for physicians and patients. Founded in 1996, the
company's mission is to improve patient outcomes through information
and resources that educate doctors, empower patients and enhance the
doctor/patient relationship. Mediconsult has the first and most active
community of online physicians--with 213,000 authenticated U.S.
physicians registered on its Physicians' Online (www.pol.net) service.
The Mediconsult network of physician and patient sites consistently
lead the online health industry in "stickiness"--each month, doctors
and patients spend over two million hours on Mediconsult sites.
Mediconsult earns revenues from leading pharmaceutical firms by
educating and supporting doctors and patients about the effective use
of their products.
Certain statements in this release, such as management's view of
future revenues and expenses, may be forward-looking statements that
are subject to risks and uncertainties that could cause actual results
to differ materially from those projected. Potential risks and
uncertainties include such factors as acceptance of the Company's
products and services, competition and other risks described in the
Company's filings with the Securities and Exchange Commission.
--30--tia/ny*
CONTACT: McKessonHBOC Media Contact:
Kim Kraemer, 415/983-8416
E-mail: Kimberly.Kraemer@mckhboc.com
McKessonHBOC Investor Relations Contact:
Larry Kurtz, 415/983-8418
E-mail: Larry.Kurtz@mckhboc.com
or
Mediconsult Media Contact:
Ellen L. Turbeville, 212/841-7335
E-mail: eturbeville@mediconsult.com
Mediconsult Investor Relations Contact:
Edward F. Kuhlenkamp, 212/841-7339
E-mail: ekuhlenkamp@mediconsult.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: MEDICAL BIOTECHNOLOGY PHARMACEUTICAL
MEDICAL DEVICES INTERNET E-COMMERCE MARKETING AGREEMENTS
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