MedCare Tech Web site gets doctor enrollments
Added: (Thu Nov 25 1999)
Pressbox (Press Release) -
MedCare Technologies Inc. (NasdaqSC:MCAR - news) said Wednesday that its online business, which provides drug information and samples, received thousands of physician requests to enroll in its program in the first five days since the launch of its marketing campaign on Nov. 15.
The site, RxSheets.com (www.rxsheets.com), designed exclusively for the physician, also offers drug studies, research information and other aspects of the pharmaceutical market.
Shares of MedCare jumped 4-3/16, or 268 percent to 5-21/32 in early afternoon trading on turnover of more than 11.3 million shares.
MedCare launched its pharmaceutical site for physicians in October and began a marketing campaign on Nov. 15.
"The response from the medical community has been tremendous," said Jeff Aronin, MedCare president and chief executive officer.
In late October, MedCare had said it expected its RxSheets.com to begin generating revenue from the sale of advertising in the year 2000.
"To our knowledge, there is no one doing this to this extent, whether it is partnerships with drug companies, or putting together the infrastructure (to deliver product samples)," Aronin told Reuters in an interview.
In creating the Web site, MedCare saw the Internet as pretty saturated with consumer healthcare sites and targeted the needs of doctors.
"RxSheets.com will revolutionize the way doctors across the country will request their pharmaceutical samples. This is the best online product that caters to the physician's pharmaceutical needs by providing an easy alternative to request and deliver samples in a prompt manner," Aronin said in a statement.
The site also will offer a healthcare calendar of events, educational opportunities and a weekly pharmaceutical newsletter.
MedCare, the healthcare technology services provider, began by developing the MedCare Program, a therapy for treating urinary incontinence.
Last month, the Oak Brook, Ill.-based company reported a 1999 third-quarter net loss of about $760,000 or 10 cents a share, compared with a loss of about $907,000 or 12 cents a share in the same period a year ago. Third-quarter revenues jumped 170 percent from last year to about $430,000.