DrKoop.com

DrKoop.com

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DrKoop.com

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Beautifully engraved Certificate from the famous DrKoop.com issued in September 2000 prior to the company being delisted in 2001 from the NASDAQ National Market. This historic document was printed by the Northern Banknote Company and has an ornate border around it with a vignette of DrKoop.com. This item has the printed signature of the famous Dr. C. Everett Koop.
Certificate Vignette About drkoop.com, Inc. drkoop.com was a leading global healthcare Network providing measurable value to individuals worldwide. Its mission was to empower consumers with the information and resources they need to become active participants in the management of their own health. On July 15, 2002 DrKoop.com was bought by Vitacost.com, a seller of health-related products over the Internet, for $186,000. At one time DrKoop.com was worth more than $1 billion based on its market cap. Vitacost paid $186,000 in cash for DrKoop.com's assets, which included the brand name, trademarks, domain names, the Web site, and the e-mail addresses of its registered users. DrKoop.com became a case-study for the roller-coaster ride of the dot-com era. Unveiled with a splash as Empower Health, the company sank into a cash crisis barely a year later, only to find an angel investor who provided enough backing until the company could sell itself to the public in 1999 as DrKoop.com. Dr. Koop Online Web Site to File for Bankruptcy and Close Dec. 18, 2001--Dr. Koop LifeCare Corp., which operates the health-care information Web site named after the former U.S. surgeon general, said Monday it will file for Chapter 7 bankruptcy and go out of business. The company said it will ask a court-appointed trustee to sell its assets to satisfy creditors. Shareholders, who have seen the value of the stock plunge from $45 soon after it went public to pennies per share before it was delisted earlier this year, will likely not receive anything, the company said. Jan Rumberger, a midstate venture capitalist, has said he had a role in the founding of what formerly was known as drkoop.com Inc. Rumberger had hoped the company would be based in the Harrisburg area, but the headquarters ended up in Austin, Texas, and then Santa Monica, Calif. He could not be reached for comment Monday. Highmark Inc., which operates in the midstate as Pennsylvania Blue Shield, and the Lancaster Health Alliance, which includes Lancaster General Hospital, were participants in Dr. Koop LifeCare's Community Partner Program, which created co-branded Web sites offering health-care and lifestyle information. The Highmark relationship was among several highlighted in disclosure documents filed before a public stock offering by drkoop.com in June 1999. Keith Eckert, a spokesman for Highmark, said drkoop.com material was offered to Highmark's western Pennsylvania subscribers, who needed a password to gain access. Highmark purchased the service from Dr. Koop LifeCare, he said, but was planning to drop the service when the current contract expired. Dr. C. Everett Koop, 85, was U.S. surgeon general in the Reagan administration and was often in the public eye from 1981 to 1989. According to an article published last year in the Industry Standard, Koop was recruited to the startup company because of the trust and brand value associated with his name. He was chairman of the company and a major stockholder -- he holds about 1.8 million shares, according to Bloomberg News -- but reportedly had few day-to-day responsibilities. Originally called Personal Medical Records Inc. and later renamed Empower Health Corp., the company was incorporated in Austin, Texas, in July 1997. Its initial goal was to develop software that would enable the full medical and insurance records of people to be accessed online throughout their lives, still an unrealized goal of the health-care industry. The Personal Medical Record originally was to be a free-standing product, according to the drkoop.com proxy statement, but the company's leaders later decided it should be part of an Internet Web site that also offered health-care information, disease chat rooms and other useful tools. The company licensed Koop's name in January 1999 in return for 2 percent to 4 percent of revenues and changed the company's name once again. In its final, yearlong death throes, drkoop.com became emblematic of Internet companies that went public with high hopes, the best of intentions and unrealistic business plans. The drkoop.com Network was built from relationships with other Web sites, healthcare portals and traditional media outlets, and integrates dynamic, medically reviewed content, interactive communities and consumer-focused tools into a complete source of trusted healthcare information. Its strategic alliance with Shared Medical Systems (SMS) makes drkoop.com a leader in promoting secure online interaction between patients, insurance companies, physicians and healthcare organizations. With more than 1.4 million registered users worldwide, drkoop.com has strategic relationships with online organizations. The Company's content was also featured on the Web sites of more than 420 healthcare facilities and more than 20 leading television stations nationwide. In August 2000 the company received a $27.5 million cash infusion and a new management team aiming to save the ailing company. In September 2000, the new management team fired about one-third of the staff in a cost cutting restructuring. Even though Drkoop.com received an equity financing, the health Web site stock was on the brink of failure down from its time high of $45.75. Drkoop.com reported the SEC is conducting an informal investigation into whether the company violated securities laws. Drkoop also is the target of several class-action lawsuits. Regardless what ends up happening to DrKoop.com, these certificates will always be a remi

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