VANCOUVER, British Columbia--June 19, 2001-- Digital Commerce International, Inc. (OTCBB:THBK), an ASP, a provider of e-commerce infrastructure services for small-to-medium sized businesses, is pleased to announce that the company has signed a Letter of Intent to merge with Netcare Health Services, Inc.
A Connecticut based company, Netcare Health Services is licensed as a special service pharmacy with expertise servicing long-term health care facilities.
This is to be an all-stock transaction. While the terms of the transaction were not disclosed management believes the merger to represent an opportunity to considerably increase shareholder value.
Michael Kang, CEO of Digital Commerce, stated, "The merger with Netcare allows us to immediately expand our product range to include a highly useful and profitable market sector. Using Digital`s financial services network we bring to Netcare operational and financial efficiencies which will allow them to grow their product distribution and improve operating efficiencies."
Edward Foster, CEO of Netcare Health Services, Inc. said, "This is an opportunity for Netcare to reap the benefits of Digital`s productivity tools while giving them a look at whole new industry. I am particularly excited about the manner by which the combined management group, tasked to review the merger, has come together to find opportunities to both grow market share and reduce overhead."
While Netcare Health Services, Inc. enjoys an attractive revenue stream with healthy sales and growing monthly revenues, it is currently a brick and mortar business only and has no online strategy for its operations. The newly merged company is expected to benefit through the implementation of Digital`s online administrative strategies.
About Digital Commerce International, Inc.
Digital Commerce International, Inc., an ASP, is currently a global provider of e-commerce infrastructure services for small and mid-sized businesses. The company`s range of unified e-commerce services enable small businesses to build Internet storefronts, accept and process electronic payments, market and promote their Internet business and manage their business finances without ever having to deal with multiple service providers. Using Digital`s customized merchant control center, merchants have a single point of access to manage all the critical functions of their e-business. For more information, please visit the company`s web site at www.digitalcommerceinc.com.
About Netcare Services
Netcare Services, the operating name for Netcare Health Services, Inc., is a licensed pharmacy company located in Middletown, Connecticut, providing in-house LTC (long term care) pharmacy services for LTC facilities in the State of Connecticut, soon to expand with licensing into New York, New Jersey, Texas, Ohio and the Washington, DC markets. Services include prescription fulfillment, staffing, insurance and Medicare processing for its LTC network of clients.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subjected to risks and uncertainties that could cause actual results to differ materially form those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Digital Commerce International`s filings with the Securities & Exchange Commission.
CONTACT: Netcare Services
Howard A. Pearl, 212/647-0500 ext. 173
or
Digital Commerce International, Inc.
Michael Kang, 604/899-0411 ext. 122
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