America's Health Network Secures Financing.ORLANDO, Fla.--(BUSINESS WIRE)--Aug. 26, 1997-- Announces Fall Programming 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. Webster F. (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 15 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 5, AHN purchased A.H. Belo's majority interest in the network. The sale of Belo's interest leaves 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. All of these parties will continue to be substantial shareholders after the investment by Mr. Milstein. AHN To Resume Live Programming, Add Hourly News, Daily New Series and Weekly Specials The network will resume daily production of its live Ask The Doctor series in October, Golinkin said. Production of these 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 produce hourly Health News briefs. 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. All of this new, original programming will be produced at the network's 27,000-square-foot 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 Mayo Clinic: see Mayo, Charles Horace. Mayo Clinic voluntary association of more than 500 physicians in Rochester, Minnesota. [Am. Hist.: EB, 11: 723] See : Medicine 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: America's Health Network Jim Higgins, 908/595-2125 |
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