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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: D. Swiss who wrote (124860)	5/14/1999 5:38:00 PM
From: TechMkt	Read Replies (1) \| Respond to of 176387

This is interesting. Fez ___________________ Dell Computer, Others, to Buy Drkoopcom Shares Washington, May 14 (Bloomberg) -- Dell Computer Corp. and two other companies are seeking to invest as much as $30 million in drkoop.com Inc., the online consumer healthcare network co- founded by former surgeon general C. Everett Koop. Dell, Quintiles Transnational Corp., and FHC Internet Services LC have each ''expressed interest'' in acquiring drkoop.com common stock, according to a registration statement filed with the Securities and Exchange Commission. These expressions of interest are nonbinding, the filing said. Nevertheless, drkoop.com will reserve $10 million of stock for each of the potential investors as part of the company's upcoming initial public offering. The web site run by Drkoop.com, based in Austin, Texas, provides users with healthcare information on topics such as acute ailments, chronic illnesses, and nutrition. The site also offers access to medical databases, publications and real-time medical news. The company recorded revenue of $404,000 during the first quarter of 1999, almost 10 times more than the $43,000 in revenue generated during all of last year. Drkoop.com generated a net loss of $30.5 million during the first quarter. Drkoop.com filed for the IPO in March without providing the exact size of the stock sale. The company disclosed such details in today's filing, stating that it would sell 9.38 million shares for $7 to $9 each. The offering total will include about 3.75 million shares for Dell, Quintiles and FHC. They will purchase their stock at the same price as the public. At present, Austin-based Dell doesn't have any investments in public Internet companies, according to a spokeswoman. She declined comment on the purchase of Drkoop.com shares. FHC Internet is affiliated with Ronald Dozoretz MD, the founder of FHC Health Systems of Falls Church, Virginia. Formerly known as First Hospital Corp., FHC manages behavioral health care services for about 23 million Americans through a subsidiary called Value Options Inc. Dozoretz, a psychiatrist, and Koop, the former surgeon general, know one another, according to Peter Biagioni, the chief information officer for FHC Internet. Both ''have been in the industry many years and have gotten to know each other's companies,'' he said. Quintiles, based in Durham, North Carolina, provides contract research, sales and marketing services to drug companies and medical device manufacturers. Its product development services, for example, help clients obtain regulatory approval for a new drug or medical device. Quintiles officials had no immediate comment. May/14/ 99 16:35