SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 7,1998
MEDICAL ADVISORY SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
DELEWARE 2-98314-W 52-1233960
(State or other (Commission (IRS Employer
jurisdiction of File Number Identification No.)
8050 Southern Maryland Blvd., Owings, Maryland 20736
(Address of Principal Executive Offices) (Zip code)
Registrant's telephone number, including area code: (301) 855-8070
Item 1. Other Information.
On July 7th, 1998, the Company issued the following Press Release that states:
MEDICAL ADVISORY SYSTEMS, INC. EXPANDS SCOPE OF OPERATIONS;
INVESTS IN INTERNET COMPANY
OWINGS, MD. May 20th, 1998- Medical Advisory Systems, Inc.(NASDAQ Bulletin
Board :MEAS) announced today that it is making a $1,000,000 equity investment
in cash and services in America's Doctor, Inc.
America's Doctor, Inc., a new internet company, will provide internet
consumers the opportunity to chat in real-time with a physician, obtain
referrals and be made aware of health care events on the health web site of
America OnLine, Inc. (NYSE : AOL). America's Doctor will be an anchor tenant
on the AOL Health Page under an initial 3-year exclusive agreement with AOL,
which guarantees at least 23 million page impressions per year. MAS has
entered into an exclusive Operational Service Agreement with America's Doctor
for the staffing of physicians and medical professionals and the operation of
the 24 hour-a-day Response Center located at the MAS, Owings Maryland
facility. MAS will also promote its other operations including the recently
developed program, Doc-Talk, which enables consumers to speak directly to a
physician at any time over the telephone.
Medical Advisory Systems, Inc.'s investment is made in conjunction with a
similar investment by Premier Research Worldwide, Ltd. (NASDAQ:PRWW), a
technology-based clinical research company with offices in Philadelphia, PA.
and in Peterborough, Maidenhead and Cambridge, UK. Both MAS and PRWW will have
representatives on the Board of Directors of Ask-A-Doc.
Medical Advisory Systems, Inc., President and Chairman, Ronald W. Pickett
stated that "we are excited by the innovative opportunities created by the
internet. We have been rendering medical assistance to people all over the
world for the last 17 years via telephone/satellite. It is a logical, almost
seamless transition for us to expand the scope of our operations to the World
Wide Web. I think this is a good fit for all parties involved and it is in the
long-term best interests of our shareholders".
Medical Advisory Systems, Inc. is headquartered in Owings, Maryland where it
has operated a 24 hour-a-day, physician-staffed call center since 1982,
providing medical advice and assistance to ships at sea, HMO's, multinational
corporations, and the international travel industry. MAS also participates in
a worldwide network of 24-hour call centers in 24 countries and utilizes other
centers to provide certain services outside the U.S. MAS has been operating at
a profit for the past 8 years.
Statements included in this release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements involve a number of risks and uncertainties such as competitive
factors, technological development, market demand, and the Company's ability to
obtain new contracts and accurately estimate net revenues due to variability in
size, scope and duration of projects, and internal issues in the sponsoring
client further information on potential factors that could affect the Company's
financial results can be found in the Company's Registration Statement and in
its Reports on Forms 10-K and 10Q filed with the Securities and Exchange
Commission (SEC).
For More Information Contact
Ronald Pickett, President and Chairman
910-509-1433 Voice
Thomas M. Hall, M.D., M.I.M.
Chief Executive Officer
410-257-2704 FAX
[email protected]
