Cyber-Care Enhances Telehealth Initiative With Acquisition of Home Workstation Product.Business Editors/Health & Medical Writers 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)--April 20, 2001 Cyber-Care, Inc. (Nasdaq:CYBR CYBR Copy Byte Right ) today announced that it has reached an agreement with CardioCommand, Inc., Tampa, Florida “Tampa” redirects here. For other uses, see Tampa (disambiguation). Tampa is a United States city in Hillsborough County, on the west coast of Florida. It serves as the county seat for Hillsborough County.GR6. , to purchase the CloseTouch(TM) COMPANION home workstation technology. The acquisition is valued at $3.2 million. The CloseTouch COMPANION is an eighteen-pound portable workstation that will accommodate Cyber-Care's peripheral devices and will operate using a variety of telecommunication technologies including standard telephone lines and broadband telecommunication. CardioCommand agreed that it would adapt the CloseTouch COMPANION to operate Cyber-Care's proprietary software and operate on Cyber-Care's network. Under the agreement, the consideration will be held in escrow during the adaptation period. Adaptation will result in the CloseTouch COMPANION being compliant with Cyber-Care's previous Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) clearance for Class II 510-k medical devices. "We look forward to working closely with Cyber-Care to optimize the COMPANION as a fundamental platform for delivering telehealth service worldwide," said Maynard Ramsey, M.D, Ph.D., CardioCommand's chief executive and chief science and technical officer. "Cyber-Care's selection of our product further validates CardioCommand's efforts to create small, powerful and user-friendly third-generation home workstations." With cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease topping the nation's list of leading killers, Mike Lemnitzer, vice president of business development for Cyber-Care, expressed appreciation for CardioCommand's anticipated contributions to combating this illness through the collaboration. "The CloseTouch COMPANION further enhances the Electronic HouseCall(R) System and advances our telehealth initiatives to a whole new level," Lemnitzer said. "This agreement demonstrates how telemonitoring companies can effectively collaborate and adapt their products to Cyber-Care's proprietary software and networking capabilities." Prior to joining CardioCommand, Dr. Ramsey was vice president of research and development at Critikon, a division of Johnson & Johnson (NYSE NYSE See: New York Stock Exchange :JNJ JNJ Johnson and Johnson (stock symbol) JNJ Journal of Nursing Jocularity ). At the close of escrow, Dr. Ramsey will join the management team of Cyber-Care, Inc. Throughout the transaction, Raymond James Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . & Associates, Inc. represented CardioCommand. About Cyber-Care Inc. Cyber-Care Inc., (Nasdaq:CYBR) is a network-based telehealth solutions company improving the delivery of care through its Internet-based technology. Cyber-Care creates a live, interactive community that incorporates all members of the care team in the delivery of the healthcare process, resulting in cost reduction and improvement in the quality of patient care. Utilizing patented technology for remote monitoring and real-time interactive communications between chronically ill patients and their providers, Cyber-Care's Electronic HouseCall System allows for effective and efficient data collection, case management and personal interaction. Headquartered in Boynton Beach, Fla., Cyber-Care also has physical, occupational and speech therapy businesses and an institutional pharmacy business. Visit Cyber-Care's Web site at www.cyber-care.net. 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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