CYBeR-CARE Signs Letter of Intent to Manufacture and Market Electronic HouseCall Systems in Taiwan.Business Editors BOYNTON BEACH Boynton Beach, city (1990 pop. 46,194), Palm Beach co., SE Fla., on the Atlantic coast; inc. 1920. A major suburban area, it is also a beach resort and vegetable-shipping point. , Fla.--(BW HealthWire)--March 21, 2000 CYBeR-CARE (Nasdaq:CYBR CYBR Copy Byte Right ) announced today it signed a letter of intent (LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items ) with Xender, Inc., a Taiwanese electronics manufacturer, to produce and market in Taiwan 10,000 Electronic HouseCall Systems, a patented Internet-based technology Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. enabling health care providers to monitor the health of individuals from remote locations. Under the terms of the LOI, CYBeR-CARE will license Xender to manufacture a minimum of 10,000 Electronic HouseCall Systems over a three-year period. Xender has established relationships with more than 300 medical facilities throughout Taiwan, which will provide the care for patients using the system. Xender's sales, marketing and support will begin in July 2000. Installation of at least 2,000 units will begin in July to be completed in the next 12 months, an additional 3,000 units will be installed during the following 12 months, beginning July 2001, and 5,000 additional units in the 12 months beginning July 2002. CYBeR-CARE will receive a $500 license fee per unit sold and will be responsible for installing, operating and maintaining the communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. in Taiwan. The company also will receive a recurring network fee of $200 per month per installed unit. Michael Morrell, Chairman and Chief Executive Officer, said "We continue to see significant interest around the world for our Electronic HouseCall System and we are pleased to have signed a letter of intent with Xender to manufacture and sell the units in Taiwan. This agreement continues to show that there is demand to deliver health care in a more efficient manner." Based in Boynton Beach, FL, CYBeR-CARE is a technology assisted health management company with four business lines. The company is developing the Electronic HouseCall System, a patented Internet-based technology system that provides remote monitoring of individuals for health care purposes. In addition, CYBeR-CARE operates physical, occupational and speech therapy centers, an e-pharmacy and one of the world's largest air ambulance air ambulance Emergency medicine A helicopter or, less commonly, a fixed wing aircraft, used to evacuate a person who requires immediate medical attention that cannot be provided at his/her current location transport services. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
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