CALGARY, Alberta, May 21, 2001 /PRNewswire via COMTEX/ -- Remote Utilities Network, Inc. (OTC Bulletin Board: RMUN) wishes to advise that their Research and Development team have been developing remote wireless technology for use in the Medical field, specifically for application in Home Care and Nursing Homes for patient monitoring, utilizing "streaming real-time video" and high speed internet. Project "Mediceye" is anticipated to be completed and ready to market by the end of the third quarter of 2001. The Company believes there is a developing need for remote patient monitoring, primarily in the United States where, according to the U.S. Census Bureau, 28% of the population represent baby boomers. Additionally, the 65 and older segment represented just under 13% of the total U.S. population and accounted for an estimated 40% of total healthcare expenditures in 1998. (Source: Standard and Poors September 14, 2000/Healthcare: Products and Supplies Industry Survey).
The Company wishes to position itself to take advantage of the changing trends in the North American Healthcare industry, and is currently exploring different avenues to promote the technology.
Remote Utilities Network is a Calgary, Alberta-based, publicly traded company currently in the process of assembling the capital, management resources, and marketing rights required to establish itself as a supplier of security systems for wireless multi-vehicle surveillance of motor vehicles. In June 1999, the Company acquired, through a license agreement with Autoeye, Inc., the use of the trademarks, trade names, insignia and other indicia for the technology known as the Autoeye Multi Vehicle Surveillance System. Please visit the Company's website at www.runcorp.com for further information.
In conjunction with the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectation. Further information on potential factors that could affect Remote Utilities Network, Inc. is included in the Company's filings with the Securities and Exchange Commission.
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