ESVS News! Notice addition to the PR/IR firm at the bottom!
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
SOURCE: Enhanced Services Company, Inc. |
