|CyberCare Forms Strategic Alliance With Medical Information Leader for Sales and Distribution in Korea|
Cooperation Allows for Formulation of Korean Electronic HouseCall to Enhance Telemedicine in Korea
BOYNTON BEACH, Fla.--(BW HealthWire)--Jan. 29, 2002-- CyberCare, Inc. (Nasdaq:CYBR - news) today announced a memorandum of understanding with CyberCare, CyberAsiaCare, Ltd. and BIT Computer Co., Ltd. (Kosdaq:BIT) to form a strategic alliance to jointly develop and localize 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® (EHC(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.
``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 industry of Southeast Asia. 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, Dr. BIT, medical DB, insurance reimbursement, and automation. For more information, visit 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® 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 cybercare.net.
Safe Harbor Statement under the Private Securities Litigation Reform Act 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.
Duffey Communications, Atlanta
Jan Sisko/Melissa Rudolph
404/266-2600, Ext. 261/208