MedCases Announces Merger with I.C. Axon and Investment from Merck Capital Ventures

MedCases, Inc., a leading medical education provider, and I.C. Axon, Inc., a leading e-learning solutions provider, announced today that they have signed an asset purchase agreement merging the two companies, and have completed a round of financing led by Merck Capital Ventures, LLC. This collaboration, combining MedCases clinical education expertise and I.C. Axons innovative approach to pharmaceutical sales force training, will allow the companies to offer broader educational solutions to the pharmaceutical industry.

PHILADELPHIA, PA (PRWEB) August 9, 2003 - MedCases, Inc., a leading medical education provider, and I.C. Axon, Inc., a leading e-learning solutions provider, announced today that they have signed an asset purchase agreement merging the two companies, and have completed a round of financing led by Merck Capital Ventures, LLC. This collaboration, combining MedCases clinical education expertise and I.C. Axons innovative approach to pharmaceutical sales force training, will allow the companies to offer broader educational solutions to the pharmaceutical industry.

I am extremely excited about the opportunities this merger and investment present for our organizations. I.C. Axon has a strong reputation for developing innovative sales force training products," said Deborah Hull, president and CEO of the combined entity. The combination of both companies experienced staffs and strong customer relationships and the new investment by Merck Capital Ventures provides a solid foundation for growing a world-class company."

This is a major milestone," said Jean Lalonde, I.C. Axons president and cofounder. MedCases has an excellent reputation of producing high-quality physician education products, and we are genuinely excited to broaden our product offering and improve service to every one of our customers."

The pharmaceutical industry has started to realize the benefits technology can bring to the development and delivery of education for both its internal and external customers," said Per Lofberg, president and CEO of Merck Capital Ventures. MedCases and I.C. Axon are at the forefront of this expanding market, and their union will result in the formation of a powerful new entity that is a market leader in the delivery of pharmaceutical industry education solutions."

MedCases, based in Philadelphia, PA, utilizes innovative technology to create and deliver medical education programs to physicians and other health care providers. MedCases specializes in creating high-quality original content and compelling, evidence-based simulated patient encounters. I.C. Axon, headquartered in Montreal, Canada, has pioneered technology that brings sales force training and professional development solutions to the pharmaceutical industry. The integration of both companies educational planning, content development, and smart use of emerging technologies and multimedia will result in a more versatile and comprehensive product line.

About MedCases, Inc.
MedCases, Inc., a medical e-learning solutions provider and an ACCME-accredited provider of continuing medical education for physicians, excels in the design, creation, and flawless execution of interactive, case-based simulated patient encounters targeting physicians and other health care professionals. MedCases uses a proprietary, Internet-based system to deliver comprehensive, cost-effective learning with applications for academic medical centers, practicing physicians, health care delivery organizations, and pharmaceutical companies. For more information, please visit http://www.medcases.com or call 215-636-9180.

About I.C. Axon, Inc.
Founded in 1995, I.C. Axon (http://www.icaxon.com) is a leading provider of Customer Learning Management (CLM) solutions to the health care industry. I.C. Axon's award-winning CLM solutions help connect health care companies and organizations to their customers through technology-based learning, training, and communication programs. I.C. Axon maintains collaborative relationships with medical societies, managed care organizations, pharmaceutical and medical device companies, and top-tier medical schools.

About Merck Capital Ventures
Merck Capital Ventures (MCV) is a subsidiary of Merck & Co., Inc. MCV seeks to invest capital in emerging businesses in areas related to the commercialization, distribution and delivery of pharmaceuticals and related health care services. The focus of MCV is to invest in technologies that accelerate innovation related to the pharmaceutical business and other sectors of health care delivery.