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EXHIBIT 99.1
CAREDATA.COM ANNOUNCES APPOINTMENT OF KENNETH M. GOINS JR. AS PRESIDENT AND
CHIEF EXECUTIVE OFFICER
ATLANTA--(Aug. 10, 2000--Caredata.com, a leading online syndicator of healthcare
content and applications, today announced changes to the executive management of
the company. Kenneth M. Goins Jr. has been appointed President and Chief
Executive Officer and has accepted a seat on the company's Board of Directors.
Concurrent with the appointment of the new CEO, Michael J. Finn, who has been a
Director of the company since 1991, has been appointed Chairman of the Board of
Directors. Mark Kaiser, former Chairman and CEO, has resigned from the company
to pursue other business opportunities.
Prior to joining the company, Mr. Goins served in various management positions
with First Data Corporation and its predecessors, First Financial Management
Corporation and MicroBilt Corporation. Before joining First Data, he was
employed by Colonial Life and Accident Insurance Company, based in Columbia,
South Carolina. Mr. Goins holds a Bachelor of Science degree in Business
Administration from the University of South Carolina and is a licensed Certified
Public Accountant.
In a letter presented to the employees announcing the changes today, Goins
commented, "We have a strong and capable management team, a stable of
traditional healthcare information products and services, and an opportunity to
participate in eHealth opportunities as the capital market regains its
confidence in this sector. I look forward to leading our management team in
pursuing strategic opportunities for Caredata while strengthening its position
as a leading provider of healthcare content and applications." Mr. Finn is a
General Partner of Brantley Venture Partners, a venture capital firm located in
Cleveland, Ohio. He holds both a Bachelors degree and a Masters degree from
Michigan State University.
"Ken Goins is the right person to lead Caredata.com following Mark Kaiser's
resignation," said Finn. "His in-depth knowledge of our business and his mix of
analytical and interpersonal skills will prove invaluable in his new capacity."
About Caredata.com
Caredata.com is a leading online syndicator of healthcare content and
applications to a wide range of Internet portals and e-commerce sites. The
company enables Web sites to enhance their content offerings by delivering
Caredata.com's award-winning, co-branded tools to their established online
communities. These syndicated tools and services empower physicians, consumers
and healthcare enterprises to gain insight into critical healthcare information
and conduct business more efficiently. Caredata.com's Web applications include
its CiteLine(TM) medical search tool, appSTAT(TM) universal healthplan
application, myPhysicianSelector(TM) and myHealthPlanSelector(TM) consumer
reference tools, HealthcareMatch.com/PracticeMatch(R) job community and
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PrimeSourceWeb(TM) physician credentials database. Caredata.com has more than
fifty strategic partnerships and alliances with leading Web businesses.
Caredata.com is headquartered in Atlanta, Ga., and can be found on the Internet
at http://www.caredata.com.
Certain statements in this press release, particularly those anticipating future
sources and amounts of available capital, future financial performance, business
prospects, growth and operating strategies, strategic Internet relationships,
sources of revenue and similar matters, and those modified by the words
"believes," "expects," "anticipates," "intends," "estimates" or similar
expressions, constitute "forward-looking statements" within the meaning of
federal securities laws. These forward-looking statements reflect management's
expectations and are based upon currently available information. These
statements are not guarantees of performance and are inherently subject to risks
and uncertainties, many of which cannot be predicted or anticipated. Future
events and actual results, financial or otherwise, could differ materially from
those expressed in or implied by the forward-looking statements. Important
factors that could cause future events or actual results to differ materially
include: the company's liquidity and the availability of capital to fund
operations; the cooperation of the company's senior lender as the company
pursues additional near-term financing (including obtaining an extension of the
maturity date of the company's senior credit facility); satisfying the
conditions to the availability of the company's equity financing commitment from
Fusion Capital; demand for the company's products; pressure on the pricing of
the company's products; the effects of the on-going restructuring of the
company's business and operations; the length and unpredictable nature of the
company's sales cycle; the timing of significant new customer contracts; the
loss or non-renewal of significant customer contracts; the number and timing of
new strategic Internet relationships such as syndication partners; a reduction
in the amount or quality of the company's sources of data; adverse changes in
economic conditions in the healthcare information and technology markets;
competition from other healthcare information and technology companies; and
other risks identified from time to time in the company's reports filed with the
Securities and Exchange Commission, including but not limited to the Company's
annual report on Form 10-K for the year ended December 31, 1999 and the
Company's quarterly report on Form 10-Q for the quarter ended March 31, 2000.
Copies of such filings are available upon request from Caredata.com, Inc.'s
investor relations department.
