Business Services Industry
drkoop.com to be Traded On OTC Bulletin Board
Business Wire, April 30, 2001
Business Editors & Health/Medical Writers
SANTA MONICA, Calif.--(BW HealthWire)--April 30, 2001
drkoop.com, previously traded on the Nasdaq National Market, will commence trading on the OTC Bulletin Board.
"The move to the OTC Bulletin Board will have no effect on our continuing efforts to maximize shareholder value," commented Richard Rosenblatt, chief executive officer of drkoop.com. "Our strategy of becoming the leading source in the spectrum of health and wellness products and services continues to progress rapidly. We intend to continue to extend the trust and respect of the drkoop.com brand into key markets and channels that will provide for growing revenue streams and profitability."
drkoop.com President Ed Cespedes added, "Our move to the OTC Bulletin Board will have no impact on our day to day operations and we intend to continue our expansion through acquisitions and internal growth."
drkoop.com recently announced the acquisition of home infusion service provider IVonyx. The deal is expected to add more than $30 million in annual revenues with the potential for significant added growth in this $4-$5 billion industry. In March, drkoop acquired StayfitUSA to provide large employers with supplemental wellness benefits for their employees, such as discounted fitness center memberships, smoking cessation programs and other programs to keep employees healthy. "The acquisitions demonstrate continued execution of our plan to take a leadership role in the fragmented health and wellness marketplace," added Rosenblatt.
Following the appeal by the Company to the Nasdaq Listing Qualifications Panel with respect to the delisting of its common stock from the Nasdaq National Market, the Company received notification from Nasdaq indicating that the Company's common stock would be delisted from the Nasdaq National Market effective the open of business today.
About drkoop.com, Inc.
drkoop.com is a trusted brand among consumers seeking information, products and services that span the spectrum of health and wellness. From the actively healthy to the seriously ill, drkoop's products and services are designed to empower and improve every individual's health and wellness whether at home or work. drkoop.com is a leader in health and wellness interactive solutions across all demographics with two million drkoop.com and DrDrew.com registered users. The company is a leader in the corporate fitness and wellness benefit market with its unique products and services targeted at creating active programs to empower and engage the employee in fitness, recreation activities and other wellness programs.
Forward Looking Statements
This document contains forward-looking statements relating to, among other things, the Company's and IVonyx's future revenues and results from operations, the Company's agreement to acquire the operating assets of IVonyx Group Services, Inc. and the Company's listing on the OTC bulletin board. These forward-looking statements are based on the company's current expectations and are subject to material risks and uncertainties. Actual results could differ materially from these forward-looking statements, and the Company's acquisition of the operating assets of IVonyx Group Services is subject to numerous closing conditions. These matters and other business risks to which drkoop.com is subject are discussed in its periodic reports and registration statements filed from time to time with the Securities and Exchange Commission. In particular, investors are urged to review carefully the information in the Form 8-K filed by the company on April 16, 2001, the information under the caption "Risk Factors" in the Form 10-K for the year ended Dec. 31, 2000, and the other information contained in that report. The Forms 8-K and 10-K may be obtained by accessing the database maintained by the Securities and Exchange Commission at www.sec.gov or by contacting drkoop.com as noted above.
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