Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

CyberEuroCare Forms Joint Venture With Alleato.


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)--Sept. 25, 2001

CyberCare, Inc. (Nasdaq:CYBR CYBR Copy Byte Right ) announced that its Swedish subsidiary, CyberEuroCare AB, partnering with Alleato AB, a Swedish company owned by Swedish telecom company Ericsson (Nasdaq: ERICY), Swedish insurance group Skandia and Huddinge University Hospital, has formed Alleato CyberEuroCare AB to market and sell the CyberCare System(TM) in the Nordic region (Sweden, Denmark, Finland, Norway and Iceland).

Alleato has made a capital contribution in return for a 30 percent share in Alleato CyberEuroCare AB and a subsidiary of CyberCare International retains the remaining 70 percent share. In addition, as part of the joint venture, the parties are developing a co-branding methodology for Alleato sales in the Nordic region. CyberCare has secured regulatory approval for distributing the CyberCare System throughout Europe, including the Nordic region. The transaction closed with the execution of the definitive agreements last week in Stockholm.

Alleato offers technology and services within the areas of security, safety and health, enabling people to continue living at home throughout life's many different phases, with new health and medical care solutions. Huddinge Hospital supplies Alleato with knowledge resources and access to an environment where new solutions for healthcare may be developed. Alleato, which was initiated and supported by Ericsson and further developed in cooperation with Skandia, uses technology based on open standards Specifications for hardware and software that are developed by a standards organization or a consortium involved in supporting a standard. Available to the public for developing compliant products, open standards imply "open systems;" that an existing component in a system can be replaced  and open platforms like the Open Service Gateway initiative (OSGi), WAP (1) (Wireless Access Point) See access point.

(2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages.
 and Bluetooth.

Ericsson is a leading communications supplier and an innovator in the creation of the new era of mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. . Ericsson provides total solutions covering systems and applications to mobile phones and other communications tools, with more than 100,000 employees in 140 countries.

"Ericsson will serve as system supplier and system integrator within Alleato," said Kurt Hellstrom, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Ericsson. "An important and growing market in the form of utility services will be created with the services that Alleato can offer."

"We are most pleased with the partnership with Alleato," said Daniel W. Bivins, Jr., president of CyberCare International, Ltd. "Alleato is a partnership of three first-rate organizations, all playing a significant role in assisting CyberEuroCare in achieving its business mission."

Skandia is an insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 company and is Sweden's oldest and largest insurer. It also commands a substantial position in Europe and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  with more than 10,000 employees and 20 worldwide offices.

Huddinge University Hospital is one of the leading university hospitals in northern Europe. It provides highly specialized medical care and is the center for medical research and training.

Bo Nielsen, CEO of Alleato AB said, "We know the CyberCare family of products will contribute significantly to our offering and expand the continuum of services provided by Alleato."

"We are pleased to have an opportunity to work with Alleato as a partner in Nordic healthcare delivery, " Richard Harris, CEO of CyberEuroCare AB, said. "This is our first subsidiary, and we believe that the quality of both our new partner, Alleato, and our potential partners throughout Europe are positive affirmations of market receptiveness to our products and technology."

CyberEuroCare AB has been formed by CyberCare, Inc. to serve as the exclusive licensee of the CyberCare System for Europe, and CyberEuroCare is in the process of securing other such partnerships throughout Europe.

About CyberCare, Inc.

CyberCare, Inc. is a network-based telehealth solutions company improving the delivery of care through its 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. . 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 (protocol) remote monitoring - (RMON) A network management protocol that allows network information to be gathered at a single computer. Whereas SNMP gathers network data from a single type of Management Information Base (MIB), RMON 1 defines nine additional MIBs that provide a  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 institutional 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 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.
 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.
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 25, 2001
Words:748
Previous Article:REPEAT/MobileQ Launches LinkScape, Customizable Messaging And Personal Information Management System, for Mobile Information Portals.
Next Article:Utility Computing Models Are Flawed, Says Yankee Group Report; Enterprise IT Departments Seek a Full-Service, Pay-as-You-Go Model.
Topics:



Related Articles
Recent letter ruling aids foreign joint venture.
Whole-hospital joint ventures.
Rev. Rul. 98-15's impact: Columbia/Arlington venture unwound.
FORBES AND WPP GROUP FORM CUSTOM PUBLISHING JOINT VENTURE.
Zuken and DDi Form Joint Venture.
ABC-NACO Begins Second Railcar Joint Venture in China with Suspension System.
Spartech Recycles PP With Washington Penn.
Newmark forms joint venture.
Metal Management forms new venture.

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