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Cybear And AHT To Collaborate On Providing Prescription and Lab Transaction Management Via the Internet and a Hand-held Platform.


Business & Medical Editors

TARRYTOWN, N.Y. & BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BW HealthWire)--March 29, 2000

AHT AHT Animal Health Trust (Suffolk, England)
AHT American Hairless Terrier (dog breed)
AHT After Hours Trading
AHT Animal Health Technician
AHT Anchor Handling Tug
 Corporation (Nasdaq:AHTC AHTC Akademischer Hockey Und Tennis Club ), a leading national provider of Internet-based healthcare clinical e-commerce solutions, and Cybear, Inc. (NASDAQ: CYBA CYBA Charter Yacht Broker Association
CYBA Conejo Youth Basketball Association (Conejo Valley, California)
CYBA California Yacht Brokers Association
CYBA Cybertron Army
CYBA Columbia Yacht Brokers Association
), a leading national e-healthcare connectivity, applications and portal provider, today announced that they are collaborating to create a comprehensive Web portal See portal.  which can provide both prescription and laboratory transaction management. Their agreements include a co-marketing and distribution agreement for AHT's Web-based @Rx(TM) electronic prescribing service and Dr. Chart(R) clinical laboratory transaction management product and Cybear's Internet portal, dr.cybear.com. In a related agreement, AHT has granted Cybear the exclusive right to migrate the @Rx prescription system to a hand-held computer Noun 1. hand-held computer - a portable battery-powered computer small enough to be carried in your pocket
hand-held microcomputer

portable computer - a personal computer that can easily be carried by hand
 that will be marketed exclusively by the two companies.

Cybear has obtained a license to integrate and co-market AHT's @Rx and Dr. Chart Web products with Cybear's Internet portal and to further develop, in cooperation with AHT, the prescribing product for use on a hand-held computer. The agreements authorize To empower another with the legal right to perform an action.

The Constitution authorizes Congress to regulate interstate commerce.


authorize v. to officially empower someone to act. (See: authority)
 AHT to co-market Cybear's Web portal and its Internet service provider Internet service provider (ISP)

Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password.
 (ISP (1) See in-system programmable.

(2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines.
) capabilities. This collaboration is designed to allow

medical offices using the Cybear ISP to exchange prescription and laboratory orders from a single Web site using a secure Intranet connection. These applications, among other benefits, will screen prescriptions for formulary formulary /for·mu·lary/ (for´mu-lar?e) a collection of recipes, formulas, and prescriptions.

National Formulary  see under N.


for·mu·lar·y
n.
 compliance and potential drug interactions and laboratory orders for Medicare medical necessity compliance. In addition, the Cybear portal will provide access to lab results and medication histories and allow a provider to review this information electronically from any Web computer.

AHT and Cybear expect that by migrating the electronic prescribing capability to a hand-held system, physicians will be able to write prescriptions at the point of prescribing on a Web-enabled portable computer device. Physicians now write nearly all of the 2.8 billion annual prescriptions by hand. Mobile access to this information could reduce errors and pharmacy inquiries for prescription renewals and clarifications.

To further strengthen their alliance, Cybear purchased from AHT for $4 million in cash a 10% Senior Convertible Note due March 31, 2001, secured by AHT's assets, which is convertible at Cybear's option into shares of AHT common stock at a conversion price per share equal to the lower of $4.34 or 80% of the average market price prior to the conversion date, provided that Cybear cannot acquire upon conversion more than 1,913,550 AHT shares. In addition, Cybear has received from AHT a five-year warrant to purchase up to 300,000 shares of AHT common stock at an exercise price per share of $4.34.

Jon Edelson, M.D., AHT chairman, chief executive officer and president, said, "We believe that Cybear's physician Web portal offering, powered by AHT products, has the potential to provide physicians around the nation with both prescription and laboratory transaction management capabilities at the point of care. We also believe that a hand-held electronic prescription management computer system, developed through our two companies, can speed the adoption of clinical applications in physician offices."

Eric Moskow, M.D., executive vice president of Cybear, said, "Physicians need a clinically-credible and time-saving Web-based solution that can provide value for every patient encounter. Nearly every patient visit involves the ordering of a lab test, the checking of a lab result, or the writing of a prescription. By using AHT's technologies, we are confident that Cybear will more quickly be able to market clinical applications that enhance the value of dr.cybear.com, our Web portal, and will provide complementary hand-held computer solutions."

AHT Corporation (NASDAQ: AHTC) is a leading national provider of Internet-based healthcare e-commerce among physicians, other healthcare providers and healthcare organizations. The Company provides information technology enabling the electronic management of laboratory and prescription transactions. AHT's customer base is comprised of some of the nation's leading hospital systems, national and regional laboratories, pharmacy benefit managers and pharmacies. For more information, please visit AHT's web site at www.ahtech.com.

Cybear, Inc. (NASDAQ: CYBA), headquartered in Boca Raton, Fla., is an information technology company using the Internet to improve the efficiency of administrative and communications tasks of managing patient care - while addressing the healthcare industry's critical need for secure and reliable transmission of information. An Internet Service Provider (ISP) and Applications Service Provider (ASP) for the healthcare industry, Cybear uses its own secure private network to provide access to the Internet, email, and robust productivity applications available on a transaction or subscription basis to physicians, physician organizations, pharmacies, and hospitals. Some of its on-line applications include business tools for hospital messaging, lab orders and results, streamlined purchasing, prescription writing, claims processing, eligibility checking, formulary-compliance, credentialing Credentialing is the administrative process for validating the qualifications of licensed professionals, organizational members or organizations, and assessing their background and legitimacy. , Web site creation, and physician-patient communications via the Internet. More information and subscriptions to the company's products designed for the physician practice are available on-line at www.cybear.com or by calling 877.999.3001.

This press release contains forward-looking information regarding AHT Corporation and Cybear, Inc. The forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 are made pursuant to the 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.
 provisions of 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. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, anticipated transactions, legal actions, planned product development, and products or service line growth may be significantly impacted by certain risks and uncertainties, including, but not limited to, failure of the clinical e-commerce industry to develop at anticipated rates, failure of the companies products and services and planned products and services to be timely developed or to gain market acceptance, delays in customer acceptance of software, competition and other economic factors. In addition, any statements contained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality gen·er·al·i·ty  
n. pl. gen·er·al·i·ties
1. The state or quality of being general.

2. An observation or principle having general application; a generalization.

3.
 of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue," or the negative other variations thereof or compatible terminology are intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof here·of  
adv.
Of this.


hereof
Adverb

Formal or law of or concerning this

Adv. 1. hereof - of or concerning this; "the twigs hereof are physic"
, and the companies disclaim dis·claim  
v. dis·claimed, dis·claim·ing, dis·claims

v.tr.
1. To deny or renounce any claim to or connection with; disown.

2. To deny the validity of; repudiate.

3.
 any intention or obligation to update these forward-looking statements in the future. Additional risks and uncertainties are described in AHT's and Cybear's public filings with the Securities and Exchange Commission.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Mar 29, 2000
Words:1024
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