Rx Remedy And InfoSpace Announce a Broad eHealth Initiative In a Multi-Million Dollar Multi-Year Marketing Agreement
Rx Remedy to pay InfoSpace up to $21 million to jointly develop and offer an extensive health channel
WESTPORT, CT; REDMOND, WA: May 16, 2000 Rx Remedy, Inc., a leading provider of health information and interactive tools (Health-Life Services), today entered into a three-year agreement with InfoSpace, Inc. (NASDAQ: INSP), the global provider of infrastructure services for wireless devices, merchants and Web sites.
Under the terms of the agreement, Rx Remedys HealthSCOUT will be the default preferred provider of the health channel and exclusive drugstore channel for InfoSpaces affiliate network, Personal Desktop Portal, and wireless partners. InfoSpaces affiliate network consists of over 3,000 Web sites in addition to more than 24 wireless carriers worldwide, all five regional Bell operating companies, leading merchant banks and other local media networks. InfoSpaces affiliate network reaches 90% of all Internet users, according to the company research. The health channel will include a wealth of health information and interactive applications, health management services, e-commerce for drugstore-related products and services, and connectivity to healthcare providers and payers.
Under the terms of the agreement, InfoSpace will receive up to $17.5 million in cash for distribution and certain guaranteed exposure of HealthSCOUTs content across InfoSpaces extensive network. In addition, Infospace will receive $3.5 million in 2.6% equity in Rx Remedys Internet subsidiary over a term of up to 3 years. InfoSpace will also receive commerce fees on transactions that occur through the new health channel.
About Rx Remedy, Inc.
Rx Remedy, Inc. is a leading Internet provider of healthcare information and interactive tools ("Health-Life Service") for business and consumers. The Companys HealthSCOUT division syndicates its services to consumer web sites while its DoHealth division reaches consumers through employers and health plans. Through its partnerships and affiliations, the Company is the largest distributor of consumer e-Health services and tools on the web today. Its Health-Life Services include originally produced personalized health news and information, interactive health and wellness tools and health-management resources.
Leading Rx Remedy affiliates and service clients include CompuServe, EarthLink, iWon, USA Today, SNAP, Yahoo!, Knight-Ridder, John Deere, Harvard Pilgrim Healthcare and Federal Occupational Health. Through its proprietary syndication and user agent technology, the Companys goal is to add value to virtually every health transaction on the Internet.
Rx Remedy, Inc. also publishes REMEDY magazine, an award winning consumer health magazine with a circulation of over 2.2 million households nationwide.
About InfoSpace, Inc.
InfoSpace is a leading global Internet information infrastructure services company. InfoSpace provides commerce, information and communication infrastructure services to wireless devices, merchants and web sites. The Companys affiliates include a network of wireless and other Internet-enabled devices including PCs, cellular phones, pagers, screen telephones, television set-top boxes, online kiosks and personal digital assistants. These include relationships with Verizon Wireless (formerly Bell Atlantic Mobile), AirTouch, Vodafone, GTE, Intel, Ericsson, Nokia, Mitsui and Accer America. InfoSpaces affiliate network also consists of more than 3,000 web sites that include AOL, Microsoft, Disneys GO Network, NBCs SNAP, Lycos, Go2Net Inc., DoubleClick, Dow Jones and ABC LocalNet, among others.
This release contains forward-looking statements relating to the development of the Company's products and services and future operating results, including statements regarding future market share, progress in executing our strategy, introduction and success of new products and services, growth in Internet advertising sales, growth of wireless, merchant and consumer services, revenue backlog and future acquisitions, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include seasonality, success of relationships with affiliates, the rate of adoption by advertisers of the Internet as an advertising medium, rate and extent of market growth, market acceptance of our products and services, competition and rapid technological change, the successful completion and subsequent integration of pending acquisitions and the ability to continue to make future acquisitions. A further description of certain factors that could affect actual results include, but are not limited to, those discussed in the Companys Annual Report on Form 10-K, in the section entitled "Factors Affecting InfoSpace's Operating Results, Business Prospects and Market Price of Stock." Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
Other Selected HealthSCOUT News Releases
May 16, 2000: Rx Remedy And InfoSpace Announce a
Broad eHealth Initiative In a Multi-Million Dollar Multi-Year Marketing Agreement
June 7, 2000: Rx Remedy Inc. to Launch A New Internet Business -- The HealthSCOUT Network
June 15, 2000: Rx Remedy Acquires Utah Health Informatics to Create Highly Personalized Healthcare Solutions
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