Telescan and Medinet to create financial supersite for physicians on the Internet.HOUSTON--(BUSINESS WIRE)--May 22, 1996--Telescan Inc. (Nasdaq:TSCN) today announced that the company has signed a letter of intent with Medinet Information Systems Inc., a commercial online medical information services See Information Systems. provider, to custom design and maintain a financial Internet supersite targeted at physicians using the Internet. The supersite, patterned after Telescan's Wall Street City site, will offer Medinet's base of over 100,000 physicians a broad assortment of 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. including quotes, financial market news and information, while also providing a medium through which potential advertisers can reach Medinet's well-defined and highly-concentrated target audience. Initial terms of the agreement provide for Telescan to receive an initial licensing fee payable over the course of the first year, as well as to share equally in the net revenues generated by the site. Like Wall Street City, the site will graphically resemble lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North and be configured into more than 20 information and advertising districts containing a wide selection of financial information and other investment-related products and services. For example, the Exchange, Research District and Newsroom areas, will offer free market data, such as stock quotes, news, market updates and screening strategies. A Corporate Headquarters "tower" will provide access to public companies and detailed industry group data. Commercial users of and advertisers on the site can maintain a virtual office or display space in the appropriate building or district with hyper-links to their home pages. The Medinet site will also feature Telescan's revolutionary "live" stock ticker Stock ticker A letter designation assigned to securities and mutual funds that trade on US financial exchanges. using Java(TM), Sun Microsystems' dynamic programming language Refers to a language that requires less rigid coding on the part of the programmer. It typically features "dynamic typing," which gives the programmer more freedom to pass parameters at runtime without having to define them beforehand. designed to visually-enhance websites. When addressed in its optimized form using Netscape(TM) 2.0 and Windows(R) 95, this unique feature allows Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f to customize a rolling ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. of up to 50 stocks and continuously monitor the price movement of their portfolio. David L. Brown, chairman and chief executive officer of Telescan, commented, "This agreement with Medinet represents a unique opportunity to adapt our technology and products to enter new markets. Medinet has amassed strong support from the physician community by delivering a convenient, user-friendly way for its constituency to harness the vast medical resources on the Internet. We are extremely pleased to be partnering with them as they expand their product line to include effective internet solutions to their customers' needs and interests." Telescan is an industry leader in providing innovative solutions for online technology, data retrieval and Internet services. The Company develops and operates major online networks and Internet sites serving the financial, publishing, home design and building, entertainment and technology transfer industries. Telescan, Inc. is headquartered in Houston, TX and maintains offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY and Berwyn, PA. CONTACT: Investor Relations Investor relations The process by which the corporation communicates with its investors. : Karen R. Fohn Chief Financial Officer Telescan, Inc. 713/588-9700 or Alex Gleeson Media: Lee Foley Morgen-Walke Associates 212/850-5600 |
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