Tuesday March 14, 5:26 am Eastern Time
Company Press Release
Venture Catalyst Announces Equity Contract With RapidCare.com
VCAT Subsidiary Cyberworks and RapidCare.com will Develop
Interactive Physician Directed Self-Care System, which Helps Doctors and
Patients Monitor Chronic Diseases
SAN DIEGO--(BW HealthWire)--March 14, 2000-- Venture Catalyst
Incorporated (Nasdaq:VCAT
- news), a full-service
consultant and incubator for emerging businesses, announced today that
Cyberworks, Inc. (www.cyberworks.com),
its wholly-owned Web services subsidiary, has signed an equity services
contract with the online healthcare company RapidCare.com. Under terms
of the agreement, Cyberworks will receive a combination of cash and
equity for services rendered.
Cyberworks is supporting RapidCare.com's development of an
interactive healthcare management site for asthmatic children, their
parents and doctors. Patients participating in the program will be able
to upload daily peak flow meter readings into their personal
RapidCare.com chart, allowing their doctors to remotely monitor the
patient and make changes in their treatment plan as needed. The result
is a reduction in office and hospital visits for the patient.
``We are pleased to partner with RapidCare.com in developing this
compelling tele-medicine application,'' said Sanjay Sabnani, president
of Venture Catalyst. ``With this new site and the Asthma Data Management
System, children with asthma and their parents can receive doctor
consultations from their own doctor without visiting the doctor's
office.''
RapidCare.com has an exclusive distribution agreement with one of
only a few digital peak flow meter manufacturers on the market. The
company is also leveraging existing relationships with thought-leading
institutions and a fully integrated Web site to launch services for
several pediatric chronic diseases.
``Beginning with asthma patients, we are hoping to change the face of
online healthcare,'' said David Sheehan, RapidCare.com's CEO. ``We are
strengthening the connection between doctor and patient and making the
process of monitoring chronic diseases more interactive. A more involved
patient is a healthier patient and our unique system reinforces patient
compliance. Our service helps physicians manage their chronic disease
patients more effectively, creates happier and healthier patients, and
lowers healthcare costs.
San Diego-based RapidCare.com was founded in 1999 and is led by
Sheehan, who has extensive experience in healthcare services and medical
devices. The Company's Chief Medical Officer is Pat Fitzgerald, a
practicing ear, nose, and throat physician in San Diego, and Chief
Technical Officer Mark Nitzberg, who has a Ph.D. in computer vision from
Harvard and has been involved in numerous Internet start ups.
A wholly-owned subsidiary of Venture Catalyst, Incorporated,
Cyberworks (www.cyberworks.com) was founded in 1994 as an interactive
marketing and design company that served the Hollywood entertainment
industry. Its focus has expanded over the years to include corporate,
government, nonprofit and business-to-business clients. With more than
350 Internet and intranet sites to its credit, Cyberworks serves local,
national and international clients, including Nike, Sony, American Golf
Corporation, Barona Casino and Petersen Publishing.
Headquartered in San Diego, Calif., and with offices in Santa Monica,
Venture Catalyst Incorporated (www.vcat.com)
is a full-service consulting company serving the strategic and growth
needs of private and public technology companies. Venture Catalyst
Incorporated also provides investor relations, public relations,
marketing, strategic planning and state-of-the-art incubation
facilities.
For more information, contact Sanjay Sabnani, (310)399-4059/sanjay@vcat.com;
or Angelyn Lechman, (858)385-1000/alechman@vcat.com.
Contact:
Venture Catalyst Incorporated
Sanjay Sabnani, 310/399-4059
sanjay@vcat.com
or
Angelyn Lechman, 858/385-1000
alechman@vcat.com
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