CYBeR-CARE And SIIC Medical Have Signed the Joint Venture

  Agreement to Market Electronic HouseCall Systems in Asia  Business Editors/Health & Medical Writers  BOYNTON BEACH, Fla.--(BW HealthWire)--March 22, 2000--CYBeR-CARE (Nasdaq:CYBR) announced today that they have signed the joint venture agreement with SIIC Medical Science and Technology (Group) Limited (Hong Kong Growth Enterprise Market:8018) a publicly traded subsidiary of Shanghai Industrial Holdings Limited (Hong Kong Main Board:363) to market and sell CYBeR-CARE's Electronic HouseCall System (EHS), a patented Internet-based technology that enables health care providers to remotely monitor the health of individuals, in China, Hong Kong and other parts of Asia, excluding Japan and Taiwan.  SIIC Medical Science and Technology (Group) Limited is responsible for the manufacture of the system units for the joint venture. The joint expects to sell approximately 60,000 EHS units over the next four years.  It is estimated that the sales of EHS units will generate approximately $500 million in revenue during this four-year period, with approximately $300 million going to the joint venture and approximately $200 million going directly to CYBeR-CARE for network and licensing fees.  Michael Morrell, Chairman and Chief Executive Officer of CYBeR-CARE, said, "We are pleased to have signed this joint venture agreement and are ready to begin to establish the network infrastructure which will start to place the Electronic HouseCall System in the Asian health care delivery system. It is a very exciting time for both CYBeR-CARE and SIIC Medical as we both embark on this revolutionary new Internet service."  Based in Boynton Beach, FL, CYBeR-CARE is a technology assisted health management company with four business lines. The company is developing the Electronic HouseCall System, a patented Internet-based technology system that provides remote monitoring of individuals for health care purposes. In addition, CYBeR-CARE operates physical, occupational and speech therapy centers, an e-pharmacy and one of the world's largest air ambulance transport services.  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, 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.    
Press spacebar to pause and continue. Press esc to stop.