America's Health Network Secures Financing; Announces Fall Programming.ORLANDO, Fla.--(BUSINESS WIRE)--August 26, 1997--America's Health Network announced today that it had secured new financing to support current operations and future growth of the nation's first and only 24-hour programming service devoted to health and medicine. Web Golinkin, chairman and chief executive officer of America's Health Network, said that the network had received a multimillion dollar infusion of capital on August 15th from a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of company controlled by Howard P. Milstein, co-chairman of Emigrant Savings Bank Emigrant Savings Bank was founded in 1850 by 18 members of the Irish Emigrant Society and is the oldest savings bank in New York City. The bank was originally founded to serve the needs of the immigrant community in New York and has grown to be the largest privately owned bank in and a principal in Milstein Properties Corporation. Golinkin said that, under the terms of a letter of intent signed by the parties, Mr. Milstein has an option to provide an additional, larger tranche of financing to AHN AHN Athens, GA, USA (Airport Code) AHN Army Health Nurse (US Army) AHN Aetna Hispanic Network AHN Allied Health Network AHN Ad Hoc Network within 45 days. "The two tranches of financing will supply all the working capital we need to reach cash flow break-even, which is expected to occur late next year," Golinkin said. On August 5th, AHN purchased A.H. Belo's majority interest in the network. The sale of Belo's interest left Access Health, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACCS ACCS Air Command and Control System (NATO) ACCS Advanced Cisco Campus Switching ACCS Association of Copyright for Computer Software ACCS Air Command & Control System ACCS Airborne Command & Control Squadron ), Allen & Company Incorporated, IVI Publishing IVI Publishing is an American-based home computer software company based in Eden Prairie, Minnesota in 1990 as Interactive Television, but later renamed in 1991 as Interactive Ventures, Inc. (where IVI stands for) and later to its current name. It was a joint-venture with the Mayo Clinic. , Inc. (NASDAQ:IVIP), Medical Innovation Partners, and AHN's two senior executives, Golinkin and Joe Maddox, as the company's largest shareholders. These parties will continue to be substantial shareholders after the investment by Mr. Milstein. AHN To Resume Live Programming, Add Hourly News, New Daily Series and Weekly Specials The network expects to resume daily production of its live programming in October, Golinkin said. Production of six, live Ask The Doctor series was temporarily suspended earlier this month in the aftermath of Columbia/HCA Healthcare Corporation's last-minute decision not to invest in AHN. In addition, AHN will proceed with its previously announced plans to provide hourly Health News briefs and longer form news programming. Golinkin said the network also plans to begin production of two new, daily series before the end of the year - one on women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. and the other on exercise and nutrition - and that AHN's fall schedule will feature prime time specials every Sunday on subjects of particularly strong consumer interest. This new, original programming will be produced at the network's facility at Universal Studios Florida Universal Studios Florida is a theme park in Orlando, Florida, part of the Universal Orlando Resort. The park, which opened on June 7 1990, lets visitors "Ride the Movies." It offers many shows and rides, along with countless other things for guests to see and do. . America's Health Network, the first and only television source for around-the-clock health and medical information, airs 24 hours of original programming a day, seven days a week, including episodes from six live Ask The Doctor series. The world-renowned Mayo Clinic provides programming and medical content support to America's Health Network, which is based at Universal Studios Florida in Orlando. Allen & Company Incorporated is the network's financial advisor, and also is an investor in the company. CONTACT: Jim Higgins America's Health Network 908/595-2125 |
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