Printer Friendly
The Free Library
19,607,053 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Cybear and Merck-Medco Enter Into Strategic Alliance; Cybear's Patented Processes Provide Physicians with Electronic Prescribing Solutions.


Business Editors/Health, Medical & High Tech Writers

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)--Sept. 10, 2001

Cybear Inc., a member of Andrx Corporation - Cybear Group (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
), and Merck-Medco, the nation's leading pharmacy benefits manager, today announced a strategic alliance intended to provide physicians with real-time access to medication data at the point of care.

The strategic alliance will allow Merck-Medco to gain access to Cybear's Internet-enabled software and service systems, including the Physicians' Online (http://www.pol.net) Internet portal with more than 225,000 authenticated physician users, its (at sign)Rx prescription management system, and Cybear's electronic prescribing technology covering the use of electronically transmitted prescriptions. The agreements call for the payment of licensing fees and ongoing fees associated with electronic prescription transactions.

By using electronic prescribing technology, Merck-Medco and Cybear will deliver vital information to physicians at the point of care in an effort to improve the quality of patient care, while helping to reduce overall healthcare costs for employer groups and health plan sponsors. The information -- 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.
, generic recommendations, drug interaction warnings and other decision support information -- will ensure that physicians have the medication information they need to treat patients in a safe and cost-effective manner.

"This strategic alliance has tremendous potential for Cybear," stated Tim Nolan, Cybear's 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.
. "We believe that, by aligning ourselves with one of the strongest pharmacy benefits managers in the country, we are positioning Cybear to be a player in the point of care arena."

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 a 2001 Forrester Report called "Doctors Connect with Handhelds," an estimated 82 percent of the nation's physicians will be electronically prescribing medications for their patients by 2003. Electronic prescribing improves efficiency and quality by minimizing errors and enhances patient care.

"Merck-Medco believes in open electronic prescribing networks that complement the needs of physicians and their patients with the strictest adherence to patient confidentiality patient confidentiality Medical practice A Pt's right to privacy and freedom from public dissemination of information that the Pt regards as being of a personal nature. See HIPAA, Medical privacy. ," said Stephen Cohan, senior vice president, Business Development, Merck-Medco. "Cybear's systems, integrated with our own, will provide physicians with the information they need to prescribe the most appropriate medication for their patients."

Financial terms of the agreements were not disclosed.

About Cybear Group

The Cybear Group includes Cybear Inc., Cybear Acquisition Corporation, formerly certain assets of 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, and Mediconsult.com, Inc. and its subsidiaries. Headquartered in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. , the Cybear Group's products and technology are designed to allow the Internet to be used to improve the efficiency of clinical, administrative and communications tasks in the healthcare industry. The Cybear Group uses multiple networks, including its own secure private network, to provide access to the Internet, email, and productivity applications that are available on a transaction or subscription basis to physicians, physician organizations and hospitals. Product offerings also include a variety of healthcare products available to physicians through the Internet, online applications such as the Physicians' Online Web portal See portal. , business tools for hospital messaging, lab orders and results, streamlined purchasing, prescription writing, claims processing, eligibility verification, formulary-compliance, credentialing, and physician-patient communications via the Internet. Through Cybearclub, Cybear Group's joint venture with Andrx, Cybear Group sells and distributes healthcare products to physicians through the Internet.

Additional information about Cybear is available at http://www.cybear.com.

About Merck-Medco

Merck-Medco is the nation's leading pharmacy benefits manager. An independently managed subsidiary of Merck & Co., Inc., (NYSE NYSE

See: New York Stock Exchange
:MRK MRK Merck & Company (stock symbol)
MRK Mayer-Rokitansky-Kuster (anomaly)
MRK Manual Remote Keying
) Merck-Medco serves the needs of more than 65 million, or nearly one in four Americans. Merck-Medco manages some 452 million prescriptions per year for its clients through its 12 mail service pharmacies and retail pharmacy networks. Merck-Medco's clients include major corporations, Blue Cross-Blue Shield groups, insurance carriers, health maintenance organizations, government health plans and unions. More information on Merck-Medco is available at http://www.merckmedco.com.

Forward-looking statements (statements which are not historical facts) in this release 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. For this purpose, 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 of the foregoing, words such as "to," "may," "will," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties. Cybear Group Common Stock is a class of common stock of Andrx Corporation, therefore Cybear Group shareholders are subject to the risks and uncertainties described in Andrx Corporation's filings with the Securities and Exchange Commission, including Andrx Corporation's Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
, for the year ended December 31, 2000.

Note to Editors: There is an at sign before the 'R' in Rx

prescription management system.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Sep 10, 2001
Words:780
Previous Article:NFR Security Acquires Anzen Computing Product Technology and Support Contracts.
Next Article:KeyCorp Selects Remarketing Services of America For Vehicle Lease Maturity Management.
Topics:



Related Articles
Cybear Group Announces Delisting Notification.
Cybear Receives Line of Credit Commitment from Parent.
Cybear Signs License Agreement With ParkStone Medical Information Systems, Inc.
Cybear and Mediconsult Join Forces.
Cybear Signs License Agreement With LogonHealth Corporation.
Cybear Signs License Agreement With ReadyScript, Inc.
Aventis' MyDocOnline Subsidiary and Cybear Enter into Asset Purchase and Licensing Agreement for Key Services.
Cybear Group Reports Second Quarter 2001 Results of Operations.
Andrx Corporation-Cybear Group Stock To Be Converted Into Andrx Corporation-Andrx Group Common Stock.
Andrx Corporation Reports Results for the Three Months Ended March 31, 2002.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles