America's Health Network Secures Major Equity Investment to Expand Programming.ORLANDO, Fla.--(BUSINESS WIRE)--Nov. 11, 1997--America's Health Network (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 ) announced today that the company has secured equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. from an investor group led by Richard L. Scott, founder and former chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Columbia/HCA Healthcare Corp., and David T. Vandewater, Columbia's former president and COO. Webster F. (Web) Golinkin, chairman and CEO of AHN, said that the major infusion of new capital will take the network to cash flow break-even in early 1999, and that it will enable AHN to immediately expand its slate of all-original programming. "We now have the resources to implement our ambitious programming and business plans, so that consumers throughout the world will have easy access to reliable health information. This will solidify AHN's position as the leading, health-related network, and establish AHN as a global health information provider." Joseph A. Maddox, Jr., president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of AHN, said that the network will immediately proceed with previously announced plans to add hourly, live Health News briefs, prime time specials every Sunday, and two new series, 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 exercise and nutrition. An AHN web site will be launched early next year. Founded in 1993 by Golinkin and Maddox, and launched in March 1996, AHN was principally owned by The Providence Journal Co. until it was merged into A.H. Belo Corp. earlier this year. AHN subsequently purchased Belo's interest and secured interim financing from Howard P. Milstein. Other investors in AHN include Access Health Inc. (Nasdaq: 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 & CO. Inc., IVI Publishing Inc. (Nasdaq: IVIP), Medical Innovation Partners, and AHN's two senior executives, Web Golinkin and Joe Maddox, who founded the network. These parties will continue to be significant shareholders after the investment led by Scott and Vandewater. America's Health Network is the first and only television source for around-the-clock health and medical information. The network currently reaches 6.5 million full-time equivalent households in all 50 states with its all-original programming, including episodes from six live Ask The Doctor series. The world-renowned Mayo Clinic provides medical content support to America's Health Network, which is based 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. in Orlando. CONTACT: America's Health Network, Orlando Laura Meyers, 407/224-6800 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion