CyberCare Forms Strategic Alliance With Medical Information Leader for Sales and Distribution in Korea.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)--Jan. 29, 2002 Cooperation Allows for Formulation of Korean Electronic HouseCall to Enhance Telemedicine in Korea CyberCare, Inc. (Nasdaq:CYBR CYBR Copy Byte Right ) today announced a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with CyberCare, CyberAsiaCare, Ltd. and BIT Computer Co., Ltd. (Kosdaq:BIT) to form a strategic alliance to jointly develop and localize lo·cal·ize v. lo·cal·ized, lo·cal·iz·ing, lo·cal·iz·es v.tr. 1. To make local: decentralize and localize political authority. 2. the CyberCare System(TM) for sale, distribution and implementation in Korea. CyberCare will also appoint and qualify BIT, a leader in the medical information industry, as its exclusive Korean partner with respect to the marketing of the CyberCare System in Korea. The purpose of this alliance is to jointly develop a Korean version of the Electronic HouseCall(R) (EHC EHC Environmental Health Criteria EHC Environmental Health Center (NSC) EHC Eishockeyclub (German) EHC Extended Health Care (Plan) EHC Emory and Henry College (TM)) family of products for sale, distribution and implementation throughout Korea. BIT engineers, with the cooperation of CyberCare, will conduct an assessment of modifications and conversion necessary to modify the CyberCare System to create the Korean EHC. The Korean EHC will be unveiled in the BIT exhibition space at the KIMES Exhibition Show in March 2002. Sales and distribution to 250 hospitals and 4,000 medical clinics in Korea which are clients of BIT, will begin immediately after the exhibition. "As a technologically advanced country, Korea will be very receptive to the CyberCare family of products," said Jin Ok Jeon, chief technology officer and director of BIT Computer Co. "We look forward to expanding on our already vast healthcare network with the EHC." Korea has widespread advanced connectivity with approximately half of its population connected to the internet via DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary . "BIT is an ideal company to partner with since they control the largest healthcare market share in Korea," said Daniel W. Bivins, Jr., president of CyberCare International. "We look forward to our products and technology being introduced to Korean healthcare." About BIT Computer Co. BIT Computer is the recognized leader in the medical informatics medical informatics, n the field of information science concerned with the analysis and dissemination of medical data through the application of computers to various aspects of health care and medicine. industry of Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . With its medical knowledge, computer technology, know-how, and the aid of its stakeholders, BIT Computer has been able to gain a leadership position in the marketplace. BIT Computer has various types of comprehensive medical information solutions such as hospital management software, OCS OCS - Object Compatibility Standard , Dr. BIT, medical DB, insurance reimbursement, and automation. For more information, visit http://www.bit.co.kr. About CyberCare, Inc. CyberCare, Inc. is a network-based telehealth solutions company improving the delivery of care through its Internet-based technology. CyberCare creates a live, interactive community that incorporates all members of the care team in the healthcare delivery 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, CyberCare's Electronic HouseCall(R) System allows for effective and efficient data collection, case management and personal interaction. Headquartered in Boynton Beach, Fla., CyberCare also has physical, occupational and speech therapy businesses and an online pharmacy business. Visit CyberCare's web site at http://www.cybercare.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, product acceptance and effectiveness, 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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