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EXHIBIT 99
[XCare.net LOGO]
FOR IMMEDIATE RELEASE
Contact:
Peter Cheesbrough, SVP and CFO XCare.net, Inc.
(800) 723-3033 x223
Investor Relations:
Meredith Pudalov/Dory Lombardo
Financial Media: Rob Ingram/Eileen King
Morgen-Walke Associates
212-850-5600
XCARE.NET ADOPTS SHAREHOLDERS' RIGHTS PLAN
ENGLEWOOD, CO, JULY 13, 2000 - XCARE.NET, INC. (NASDAQ: XCAR), a
leading eBusiness solutions and services provider for healthcare organizations,
announced today that its board of directors has adopted a Shareholders' Rights
Plan. Under the plan, XCare.net will issue a dividend of one right for each
share of common stock -- par value of $0.001 per share -- of the Company held by
stockholders of record as of the close of business on August 10, 2000. The plan
is designed to assure stockholders fair value in the event of a future
unsolicited business combination or similar transaction involving the Company.
The Company added that the plan was not adopted in response to any attempt to
acquire the Company, and that it is not aware of any such efforts.
Each right will initially entitle stockholders to purchase a fractional
share of the Company's preferred stock for $60. However, the rights are not
immediately exercisable and will become exercisable only upon the occurrence of
certain events. Upon certain other events, unless redeemed for $0.001 per right,
the rights will become exercisable by holders, other than rights held by an
unsolicited third party acquirer, for shares of the Company or of the third
party acquirer having a value of twice the right's then-current exercise price.
Further details of the plan are outlined in a letter that will be mailed to
stockholders as of the record date.
ABOUT XCARE.NET
XCare.net is a leading provider of strategic eBusiness consulting and web
development services for the healthcare industry. Employing it proprietary
eHealth Development Discipline, the Company: a) leads consulting engagements
with clients to envision an eHealth strategy, b) builds the web applications and
portals necessary to execute the client's strategic business objectives
(brand-building, business transformation, cost-savings and/or
revenue-generating), c) integrates partner and proprietary solutions through its
"Solution Exchange" of products and services, and d) hosts high-value
transaction and portal applications. XCare.net's web solutions leverage its
proprietary XML-based platform architecture and technologies in conjunction with
the eXtensible Topic Mapping publishing standard to provide a mass-customized
and personalized eBusiness environment. For more information please contact Tom
Pianko at 720-554-1230 or [email protected].
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