Hong Kong funding enables MDvista to promote advanced telemedicine applications in Greater China

Fremont 02 August 2000On Friday, July 21st, 2000, the next-generation telemedicine company MDvista has closed Series B Preferred Stock Financing, which represents additional resources to the company in the amount of US $5 million in cash and US $3 million in Stock Warrants, led by Yu Ming Investments Limited, of Hong Kong. MDvista is developing next-generation telemedicine applications and services, and building strategic partnerships and alliances with two types of companies, manufacturers of medical devices and wireless communications service providers.

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"Proceeds from Series B will be utilised to accelerate the company's marketing strategies for the emerging United States and Asia Internet-based health care markets", reported Stanford University cardiologist and MDvista founder, Chairman and CEO, Dr. Antonio Q. Chan. "In addition to Web-based disease management services, we are moving quickly to enhance our on line professional medical education offerings in the United States and in Greater China", Dr. Chan went on to say.

MDvista currently publishes the top quality and original content MDvista Journal of Medicine for English-speaking physicians worldwide. Its Chinese language and content MDvista Journal of Medicine-Greater China will be launched worldwide in autumn 2000. Both Journals involve the best the United States and China have to offer in the field of prestigious, internationally renowned physicians and medical institutions. The Journals also provide a quality medical knowledge-base for MDvista's remote monitoring and diagnostic clinics services.

Chairman Fung Wing Cheung stated that Yu Ming Investments Limited is pleased to support MDvista in its next stage of product development and marketing. Yu Ming is the largest investment company listed on the Stock Exchange in Hong Kong and focuses both on investments in Internet and technology related businesses.

As Mr. Fung added, "We believe in MDvista's vision and are excited about its progress in designing relevant, high quality and secured wireless Web-based medical services, and making them available worldwide. We agree with MDvista CEO Dr. Chan that the time is right in the Asia Pacific Region." Yu Ming has also invested in other Internet and Asia-based companies, including for instance, Next Media Limited; eSchool Limited; iAsia technology Limited and Netvalue Limited.

MDvista is quickly moving forward in securing its mezzanine funding, with several key strategic business partnerships near completion, according to CEO Dr. Chan. "We want to move fast to put in place state-of-the-art, new vision, telemedicine applications to assist physicians across the world in diagnosing and treating their patients using MDvista's Web-enabled medical services", he reported.

MDvista, a Silicon Valley Internet company, is developing dynamic next-generation telemedicine applications and services to enhance the quality and access of health care on a global scale. Vibrant worldwide physician and patient communities built around MDvista's products and services ensure an active exchange of clinical and scientific information. MDvista's United States and international business efforts, currently in Greater China and in the Philippines, concentrate on three types of Web-enabled services: remote monitoring applications, professional education for physicians, and diagnostic clinics.

MDvista features world-class medical expertise in all of its products and services, a result of high quality affiliations with world renowned doctors from Stanford, Harvard and Rush Universities, the University of Chicago as well as from China's leading medical institutions. MDvista now collaborates with physicians from Beijing Medical University, Shanghai Fudan Medical University and Sun Yat Sen Medical University. Located in California, MDvista became operational in autumn 1999.

Yu Ming Investments Limited is an investment company whose aim is to achieve capital growth through the management of a portfolio of investments in industries such as telecommunications and electronics and electrical appliances throughout various countries in Asia. Yu Ming serves various markets in the Asia Pacific Region, especially those in Hong Kong and in Greater China.


Leslie Versweyveld

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