Friday October 30, 12:18 pm Eastern Time
Company Press Release
SOURCE: Enhanced Services Company, Inc.
Enhanced Services To Acquire Worldwide
License From POWERx For Its Medibanx.com Division
Deal Includes Licensing Rights To 700,000 Providers, 346,000 Doctors, 56,000
Pharmacies, And 50,000 POWERx Users
LOS ANGELES, Oct. 30 /PRNewswire/ -- Enhanced Services Company, Inc. (Nasdaq: ESVS - news;
ESVS) announced today that its subsidiary, Medibanx.com, has entered into a letter of intent to acquire
an exclusive worldwide, perpetual license from National Health and Safety Corporation (OTC Bulletin
Board: NHLT - news) of its POWERx Medical Benefits Network for Internet e-commerce applications.
Medibanx.com will roll out its program to provide a discount medical, hospitalization, and pharmacy
services online, in January.
Under the terms of the agreement, ESVS will acquire the exclusive rights to market POWERx related
Internet services to 700,000 providers, 346,000 doctors, 56,000 pharmacies, 50,000 POWERx users,
and POWERx clients. ESVS intends to extend special Internet health services to Fortune 500 and other
clients of POWERx, which are expected to reach 30 million consumers by the year 2000.
Steve Bostic, National Sales Manager of Enhanced Services said, ''We expect to close the acquisition
of an online shopping concern within 30 days, and the Medibanx database provides a substantial ''jump
start'' for our expansion in this area. This is a natural addition considering that more than 46% of all
online users have looked up information about a medical or personal problem according to a recent
Intelliquest Inc. survey. The combination of POWERx and Enhanced Services, under the new
Medibanx.com division, will further leverage ESVS's position as an industry leader in advertising,
e-commerce and now, the expansion into the medical healthcare resource arena.''
''The demand for medical information and resources on the Web is fast growing and our union with
ESVS will expand our exposure to the burgeoning Web market,'' said Dr. Dennis Bowers, CEO of
National Health and Safety. ''Our goal is to make available to as many individuals as possible discount
medical treatment and resources and ESVS's advertising and e-commerce expertise will allow us to
reach more people than ever before.''
National Health & Safety Corporation is a national provider of low-cost healthcare benefits, primarily
to small businesses, national associations, trade organizations, and consumer groups. Its medical
network, similar to a national PPO in structure, includes about 65% of the nation's hospitals and
doctors, about 95% of the nation's pharmacies, plus national networks of dentists, psychologists, home
nursing specialists, chiropractors and other health care providers.
Enhanced Services and their proposed acquisitions, represent the convergence under one umbrella of
diverse services focused specifically on the Internet as a communications and transaction medium
creating a new specialty in the technology arena. The combined enterprise is focused on attaining a
unique, forerunning position as it answers the full range of business demands that result from an
ever-increasing commercial reliance on the Internet.
Forward looking statements in this release concerning trends or anticipated operating results are made
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are not guarantees of future performances and are subject to risks and
uncertainties, including, but are not limited to, competitive factors (including the possibility of
increased competition or technological development, competitors and price pressures); legal factors
(such as limited protection of the Company's proprietary technology and changes in government
regulation); and the Company's dependence on key personnel and significant customers.
CONTACT: Investor and Public Relations: Tom Eckman, Sitrick & Company,
Inc., 310-788-2850; or
Brokers and Analysts: Keith Fetter, Piedmont Consulting, Inc.,
404-233-6999 |
