Enhanced Services to Acquire License from POWERx
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Enhanced Services Company Inc. in Los Angeles said that its subsidiary, Medibanx.com has signed a letter of intent to acquire an exclusive license from National Health and Safety Corp. for its POWERx Medical Benefits Network for e-commerce use.
Medibanx.com plans to roll out its program to provide discount medical, hospitalization and pharmacy services online in January.
Under the terms of the agreement, Enhanced will acquire the exclusive rights to market POWERx related Internet services to 700,000 providers, 346,000 doctors, 56,000 pharmacies, 50,000 POWERx users, and POWERx clients. Financial arrangements were not disclosed. ESVS intends to extend special Internet health services to Fortune 500 and other clients of POWERx, which it said expected to reach 30 million consumers by the year 2000.
"We expect to close the acquisition of an online shopping concern within 30 days, and the Medibanx database provides a substantial 'jump start' for our expansion in this area," said Steve Bostic, national sales manager of Enhanced Services.
National Health & Safety is a national provider of low-cost healthcare benefits, primarily to small businesses, national associations, trade organizations, and consumer groups. Its medical network, similar to a national PPO in structure, includes about 65% of the nation's hospitals and doctors, about 95% of the nation's pharmacies, plus national networks of dentists, psychologists, home nursing specialists, chiropractors and other health care providers, the company said.