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Online Direct Announces New CEO, Again

[Toronto, CANADA] Online Direct Inc. has announced the appointment of David Cravit as president and chief executive officer.

Cravit, who is a resident of Traverse City, Michigan, brings over 25 years' experience in advertising, marketing and management to the position. He was formerly a partner in Saffer Cravit and Freedman Advertising, a retail specialist advertising agency with offices in Toronto and Chicago. He joined Online Direct in June of 1999 as vice president of sales and marketing.

Cravit isn't the first professional to be named CEO of Online Direct in the year 2000. In early May, Andrew Tymoszewicz was named head of the software development company succeeding Imre Sarvari.

The announcement arrives on the heels of the company's completed agreement with CapMed Corporation of Christiana, Delaware, under which Online Direct will purchase 200,000 copies of the Personal Health Record software developed by CapMed.

The purchase price is $2-million (U.S.), with the total purchase price payable over 18 months. Online Direct will also pay production, shipping and handling costs. Upon completion of the purchase agreement, Online Direct has stock rights for 21,249 shares of the common stock of CapMed, which is a privately held company.