VirtualSellers Acquires Healthscape Inc.Business Editors & High-Tech Writers CHICAGO--(BUSINESS WIRE)--June 27, 2001 Health-Care Sales And Marketing Division Adds Key Ingredient To Its Health And Wellness Portal VirtualSellers.com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VDOT VDOT Virginia Department of Transportation ), a provider of enterprise application development solutions, today announced that it has closed the transaction to acquire among other things, the Healthscape Expert System software from Healthscape Inc. The transaction is valued at $245,000 and was completed for $5,000 in cash and 631,579 shares of VirtualSellers restricted common stock. The Healthscape Expert System is expandable to include new health-care related applications and is scalable to accommodate a growing user base. The Expert System will analyze each user's progress and the user health profile and provide tailored information to help each user meet their unique health goals. Healthscape spent approximately $3 million developing the software over the prior year. "This is one more step in our acquisition of components to build an unparalleled 'Health and Wellness Portal' on the Internet that is interactive, educational and aimed at cutting costs and saving lives," said Dennis Sinclair, Ph.D., 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 VirtualSellers.com. "The Healthscape acquisition will be synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. with our other health-care acquisitions including the Practice Portal Software Portal Software was founded in 1985 as Portal Information Network, one of the first ISPs in the San Francisco Bay Area. It was founded by John Little. The company offered its own interface through modem access that featured Internet email. from MedWired Corp. and these diverse elements of health care will be brought together at a single Health and Wellness Portal in which the Healthscape Expert System software allow health-care information to be sent to cell phones, personal computers and other technologies."(/) The Healthscape platform will provide personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. support through every step of health-goal development including feedback, regimens, information and motivation. The remote health monitoring industry is in its early stages, but VirtualSellers Health and Wellness Portal will collect targeted data and customize it into a message that is delivered on a secure, private network and enable people to take control of their health and modify their behavior in an easy and positive manner.(/) The ultimate goal of the new Health and Wellness Portal is to provide an interactive medium that can be used by patient-provider networks, health plans and employees. One of the core applications delivered by the technology acquired from MedWired Corp. by VirtualSellers is the interactive forum between physicians and their patients. Twenty-eight percent of the U.S. population, or 70 million people, visited a doctor last year.(/) "Lives will be saved, time will be more efficiently spent and costs will be reduced. That has been our goal in developing the Health and Wellness Portal from the beginning. We will also be able to create a new vertical market for TAME V, our XML-based pure scripting language A high-level programming, or command, language that is interpreted (translated on the fly) rather than compiled ahead of time. A scripting, or script, language may be a general-purpose programming language or it may be limited to specific functions used to augment the running of an . Utilizing TAME, we will be able to create a seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. of the channels at our Health and Wellness Portal," said Sinclair.(/) About VirtualSellers.com VirtualSellers.com has two synergistic business units that develop solutions for its client base. As a provider of turnkey e-commerce solutions, the company combines Web-based and 800 inbound transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . The company's TAME (Tag Activated Markup (text) markup - In computerised document preparation, a method of adding information to the text indicating the logical components of a document, or instructions for layout of the text on the page or other information which can be interpreted by some automatic system. Enhancer) software is a rapid application development language for Web/intranet/browser solutions. The software can be purchased on a license basis or used via VirtualSellers.com ASIP ASIP American Society for Investigative Pathology ASIP Application Specific Instruction Set Processor ASIP Aircraft Structural Integrity Program ASIP Arrow System Improvement Program (US DoD) ASIP Airborne Signals Intelligence Payload (Application Services See ASP and Web services. Infrastructure Provider). The Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. Group (PSG PSG, n polysomnograph; polygraph performed during sleep. Physiological variables such as pulse, blood pressure, and respiration are monitored and charted. ) provides solution-focused consulting, development and project management. Visit VirtualSellers' Web sites at: www.virtualsellers.com; www.medwired.com; www.sullivanpark.com; www.tameable.com; www.northstartele.com or www.calldirect.com. Legal Notice Regarding 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. This news release contains "forward-looking statements," including "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release have been identified with a "(/)" and include statements regarding: a) VirtualSellers anticipating that it will be able to assemble all of the components of its Health and Wellness Portal. b) VirtualSellers.com anticipating that it will be able to generate significant revenues from the Health and Wellness Portal and the Healthscape Expert System. c) VirtualSellers positioning itself to be a leading provider of health-care technology and information. d) VirtualSellers anticipating that Healthscape's Expert System will lead to reduced health-care expenditures for employers and others, reduced visits to physicians and reduced hospital visits and costs. e) VirtualSellers anticipating that the users of the Health and Wellness Portal will experience increased profits and improved health care. It is important to note that the company's actual results and outcomes may differ materially from those contained in the forward-looking statements in this news release. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties such as changes in laws and legislation which may govern the use and disclosure of health information and govern the provision of health-care information over the Internet, risks associated with providing negligent or faulty medical advice or information, insufficient demand and market acceptance of the Healthscape technology, Medwired.com, or any future health-care related products that the company introduces, emergence of companies with competing or superior health-care information and software products and/or services, unforeseen changes in the software and hardware technology used in connection with the Internet, unforeseen claims in connection with the company's intellectual property rights in connection with its TAME software, continued development and maintenance of the infrastructure required for the Internet, continued and expanded use of the Internet as a basis for commerce, communication and computing, and the overall success of the company and its subsidiaries in general. Although VirtualSellers.com Inc. believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Readers should refer to the risk disclosures outlined in the company'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 2000 fiscal year, the company's quarterly reports on Form 10-Q Form 10-Q See 10-Q. and the company's other periodic reports filed from time to time with the Securities and Exchange Commission. Note to Editors: TAME and TAME V are trademarks of VirtualSellers.com Inc. |
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