Ron
Is this the corner you were referring to?
Howie
Monday February 8, 8:27 am Eastern Time
Company Press Release
HealthAxis.com Appoints N2K Executive
Bruce Johnson as Chief Operating
Officer and Chief Financial Officer
Company Also Names David Peltz Senior Vice President of Online Marketing
NORRISTOWN, Pa.--(BUSINESS WIRE)--Feb. 8, 1999-- HealthAxis.com, Inc., the e-commerce
subsidiary of Provident American Corporation (Nasdaq: PAMC - news), today announced the
appointment of Bruce Johnson as Chief Operating Officer and Chief Financial Officer. The Company also
announced that David Peltz has been named Senior Vice President of Online Marketing.
Mr. Johnson comes to HealthAxis.com from N2K, Inc., one of the major players in the online music
industry, where he is Senior Vice President, Chief Financial Officer and a member of the Board of
Directors. During his tenure at N2K and its predecessor, Telebase Systems, Mr. Johnson was
instrumental in raising over $150 million in public and private financings, including an initial public offering
in 1997. Mr. Johnson will begin his new duties in March, upon completion of the N2K/CDnow, Inc.
merger.
Michael Ashker, President and Chief Executive Officer of HealthAxis.com, said: ''We are very pleased
that Bruce Johnson is bringing his extensive Internet and financial experience to the HealthAxis.com team.
Bruce understands the Internet community and the financial controls necessary to grow an organization.
The diversified financial and administrative experience Bruce brings HealthAxis.com will be critical as we
continue to leverage the Internet as a major new distribution channel for individual and small group health
insurance, a $75 billion a year market.''
As HealthAxis.com's Chief Operating Officer and Chief Financial Officer, Mr. Johnson will be
responsible for managing the day-to-day operations of HealthAxis.com, as well as leading the Company's
financing initiatives.
Mr. Johnson said: ''I am thrilled to join HealthAxis.com, an innovative company that is revolutionizing the
health insurance industry. Consumers and small businesses now can save both time and money by
purchasing HealthAxis.com's insurance products online. I look forward to working with the
HealthAxis.com team to continue to leverage the power of the Internet to reach consumers and expand
our offerings through partnerships with some of the nation's leading insurance carriers.''
As HealthAxis.com's Senior Vice President of Online Marketing, Mr. Peltz manages creative, media,
research and marketing strategy teams, and oversees all Web site traffic building initiatives as well as the
online sales experience itself.
Before joining HealthAxis.com, Mr. Peltz was a Vice President/ General Manager at Earle Palmer
Brown, a $600 million network of advertising agencies, where he created and managed the interactive
division. At EPB, Mr. Peltz and his team handled assignments for divisions of DuPont, Amoco, and IBM
among others, and developed with several partner companies the highly regarded e-commerce site and
the associated online marketing campaign for the auto insurance company RelianceDirect (a subsidiary of
Reliance Insurance).
One of Mr. Peltz's most significant accomplishments was the creation of ARMS, the Advertising
Response Measurement System(TM), a real time ROI-focused banner ad performance monitor that
tracks both quantity and quality of leads.
Mr. Ashker said: ''We are delighted that David Peltz has joined HealthAxis.com as our Senior Vice
President of Online Marketing. David is well known as a superior e-commerce strategist, especially adept
at employing leading-edge technologies and tactics to achieve marketing goals. With his experience and
expertise, we are confident that HealthAxis.com will become one of the most successful e-commerce
sites on the Internet.''
Mr. Peltz said: ''I am excited about the opportunity to make HealthAxis.com an even more satisfying
online experience for consumers and small businesses. I share HealthAxis.com's commitment to making
our site as convenient and easy to use as possible for our customers. We plan to pursue success through
employing aggressive online marketing techniques.''
Bruce Johnson Background
Prior to N2K and its predecessor, Telebase Systems, Mr. Johnson served from 1985 to 1988 as the
Chief Financial Officer of Northern Lites, Ltd., a venture capital-backed start-up in the quick-service
restaurant franchise business. Prior to 1985, he was Corporate Controller of SEI Financial Services, a
publicly-traded financial and computer services company.
Mr. Johnson graduated St. Joseph's University with a Bachelor of Science in Accounting, and received
his Masters of Business Administration degree from Drexel University. Mr. Johnson is also a certified
public accountant. He is married with two children.
David Peltz Background
Prior to EPB, Mr. Peltz spent 17 years in a variety of related industries. He developed the online business
for a computer software publisher; co-created special hardware and software products for the TV
production industry; managed television production for an infomercial marketing company; and wrote,
produced and directed a wide range of television commercials and corporate marketing films.
Mr. Peltz graduated Ithaca College with a Bachelor of Science in Communications. Mr. Peltz is married
with two children.
About HealthAxis.com
HealthAxis.com, a subsidiary of Provident American Corporation, is a pioneer in the Internet distribution
of health insurance to the individual and small group markets. Through its interactive, user-friendly Web
site, healthaxis.com, HealthAxis.com provides customers with access to and the ability to
purchase a full range of high quality, flexible insurance products and services at very competitive prices.
HealthAxis.com has Internet distribution agreements with AOL (Keyword: HealthAxis), Lycos, CNet
and Snap!
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements
made by the Company which are not historical facts may be considered forward-looking statements,
including, without limitation, statements as to trends, management's beliefs, expectations and opinions,
which are based upon a number of assumptions concerning future conditions that ultimately may prove to
be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be
affected by various factors which may cause actual results to differ materially from those in the
forward-looking statements. For further information which could cause actual results to differ from the
Company's expectations as well as other factors which could affect the Company's financial statements,
please refer to the Company's reports filed with the Securities and Exchange Commission.
Contact:
HealthAxis.com
Deidre Holt
610-275-3800
deidreh@earthlink.net
Investor Contact
or
Robinson Lerer & Montgomery
for HealthAxis.com
Lisa Wolford
212-484-7058
lwolford@rlmnet.com
Media Contact
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