SOURCE: EncounterCare Solutions

June 18, 2012 09:00 ET

EncounterCare Forms New Subsidiary CyberCare Health Network

CyberCare Health Network and ECSL Acquire Assets of CyberCare, Inc.

NORTH PALM BEACH, FL--(Marketwire - Jun 18, 2012) - EncounterCare Solutions (PINKSHEETS: ECSL) announced today that it has formed a new subsidiary CyberCare Health Network, Inc. (CHN) CyberCare Health Network will focus on managing the Healthcare initiatives of EncounterCare Solutions. CyberCare Health Network will begin marketing a new product for drug and alcohol addiction treatment and recovery which will incorporate the capabilities of the Electronic House Call Technology.

Additionally, EncounterCare Solutions announced that its new subsidiary, CyberCare Health Network has acquired the assets of CyberCare, Inc. which was successfully reorganized in 2009 under the direction of Bulova Tech Labs, Inc. The assets include both the patents in Electronic House Call that were originally licensed in 2005 by EncounterCare as well as new passive sensor technology that has been developed under the guidance of Bulova Tech, Labs. The new sensor capability will be an integral component of the new program for Substance Abuse Recovery.

Terms of the acquisition include CyberCare share holders of record on the reorganization date receiving shares in the new subsidiary, CyberCare Health Network.

About EncounterCare Solutions:
EncounterCare Solutions, Inc. (PINKSHEETS: ECSL) operates its business through two divisions, the Healthcare Technology Division and the Healthcare Services Division. ECSL offers a broad range of proprietary healthcare technology, products and services that address several substantial target markets, including the Healthcare Information Technology Market, the Healthcare Telemedicine and Remote Patient Monitoring Market, and the Home Health Care Market.

Safe Harbor:

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intends," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital changes in laws or regulations, the affects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

Contact Information

  • Brian Pybus