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Exhibit 99.1
FOR IMMEDIATE RELEASE
Healtheon/WebMD MedicalManager/CareInsite
Investor Relations: Investor Relations/Media:
Lew Belote Risa Fisher
404 495 7602 201/703-3400
[email protected] [email protected]
Media Relations:
Jennifer Meyer
212-880-5253
[email protected]
HEALTHEON/WEBMD, MEDICAL MANAGER, AND CAREINSITE
RECEIVE REQUESTS FOR ADDITIONAL INFORMATION ON
PROPOSED AGREEMENT
ATLANTA and Elmwood Park, NJ. - May 31, 2000 - Healtheon/WebMD Corp.
(NASDAQ:HLTH), Medical Manager Corporation (NASDAQ:MMGR), and its publicly
traded subsidiary, CareInsite Inc. (NASDAQ: CARI) today announced that they had
each received a regulatory request for additional information in connection
with their application for Hart-Scott-Rodino clearance of the proposed
agreement for Healtheon/WebMD to acquire Medical Manager and CareInsite, which
was announced on February 14, 2000.
The requests extend the waiting period for Hart-Scott-Rodino clearance, during
which Healtheon/WebMD, Medical Manager, and CareInsite cannot close the
transaction, until 20 days following substantial compliance by the parties with
the regulatory request.
ABOUT HEALTHEON/WEBMD
Healtheon/WebMD (Nasdaq: HLTH) is the first end-to-end Internet healthcare
company connecting physicians and consumers to the entire healthcare industry.
Healtheon/WebMD is using the Internet to facilitate a new system for the
delivery of healthcare, resulting in a single, secure environment for all
communications and transactions that will enable a more efficient and cost
effective healthcare system. Healtheon/WebMD has its corporate headquarters in
Atlanta, GA and its technology headquarters in Santa Clara, CA. For more
information, visit http://www.webmd.com.
ABOUT MEDICAL MANAGER CORPORATION
Medical Manager Corporation operates three lines of business. Medical Manager
Health Systems is a leading provider of physician practice management systems.
Porex Corporation is a leader in the
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development, manufacturing and distribution of porous and solid plastic
products. CareInsite, Inc., provides innovative healthcare network and clinical
communications services that leverage Internet technology to enable the
confidential exchange of clinical, administrative and financial information
among physicians and their patients, and affiliated health plans, providers and
suppliers.
ABOUT CAREINSITE, INC.
CareInsite, Inc. provides innovative healthcare network and clinical
communications services that leverage Internet technology to enable the
confidential exchange of clinical, administrative and financial information
among physicians and their patients, and affiliated health plans, providers and
suppliers. The Company's services are designed to improve the quality of
patient care and reduce the administrative and clinical costs of healthcare.
CareInsite is a 68% owned subsidiary of Medical Manager Corporation.
For more information, visit www.webmd.com, www.medicalmanager.com,
www.careinsite.com.
# # #
Other than historical information set forth herein, this announcement contains
forward-looking statements that involve risks and uncertainties, including
those relating to the ability of Healtheon/WebMD, Medical Manager Corp. and
CareInsite's services to improve healthcare, decrease clinical and
administrative costs and inefficiencies and accelerate physician adoption.
Actual results could be materially different from those discussed in this
announcement. Factors that could cause actual results to differ include, among
others: the companies' limited operating history, continued growth in the use
of the Internet, and acceptance of the Internet as a secure medium over which
to conduct transactions. Additional risks associated with the companies'
businesses can be found in the companies' periodic filings with the SEC.
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