Coinstar to Invest in SoloHealth
Self-Service Health Kiosks Help Consumers Manage Their Own Healthcare
BELLEVUE, Wash., March 21, 2011 /PRNewswire/ -- Coinstar, Inc. (Nasdaq: CSTR) today announced it will invest in SoloHealth, a consumer-driven healthcare technology company that develops and deploys health screening and information kiosks, including its award-winning EyeSite® product and the next-generation SoloHealth Station™. Investment details were not disclosed.
"As a leader in automated retail, Coinstar is continually looking for kiosk concepts that are innovative and compelling," said Gregg Kaplan, president and chief operating officer of Coinstar, Inc. "We believe that SoloHealth will address the changing market dynamics in the healthcare space by bringing free health and wellness screening to individuals who may not have accessed it otherwise."
In development, SoloHealth's next-generation, comprehensive SoloHealth Station will screen vision, blood pressure, weight, and body mass index, and provide an overall health assessment free of charge. It also gives consumers access to a database of local doctors. The company plans to provide highly personalized and interactive healthcare opportunities for consumers, advertisers and retailers by placing kiosks in high-traffic retail locations and connecting them to SoloHealth's multi-platform ecosystem across retail, online/digital, mobile and emerging platforms.
"We are thrilled to have the support of Coinstar, a leader in automated retail," said Bart Foster, chief executive officer and founder of SoloHealth. "We live in a self-service society, and with the current environment, we believe SoloHealth's platforms will provide a tremendous resource for consumers and the entire healthcare system by reducing healthcare costs, increasing access and empowering people to take action to improve their lives."
About Coinstar, Inc.
Coinstar, Inc. (NASDAQ: CSTR) is a leading provider of automated retail solutions offering convenient services that make life easier for consumers and drive incremental traffic and revenue for retailers. The company's core automated retail businesses include the well-known redbox® self-service DVD rental and Coinstar® self-service coin-counting brands. The company has approximately 30,200 DVD kiosks and 18,900 coin-counting kiosks in supermarkets, drug stores, mass merchants, financial institutions, convenience stores, and restaurants. For more information, visit www.coinstarinc.com.
Based in Atlanta, Ga., SoloHealth is a leader in self-service consumer healthcare, utilizing technology to develop and deploy interactive healthcare platforms and kiosks to empower consumers to take charge of their health through awareness, education and action. The award-winning company's first offering was the EyeSite® vision kiosk, currently located in numerous retail outlets across America. In summer 2010, the company received a $1.2 million grant from the National Institutes of Health (NIH), a division of the U.S. Department of Health and Human Services, to help enable innovation for the next-generation health and wellness platforms for healthcare and prevention. The company's bilingual kiosks provide free health screenings and recommendations for follow-up care, as well as health and wellness information, which leads to prevention and lower healthcare costs. For more information, visit www.solohealth.com.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including phrases conveying expectation or intent and other expressions identifying future performance. These forward-looking statements are subject to a number of substantial risks and uncertainties and may be identified by the words "believe," "continually," "will," "anticipate," "expect," "may," or "intend," or similar expressions, but their absence does not mean that the statement is not forward-looking. Forward-looking statements are not guarantees of future performance which may vary materially from performance expressed or implied in the forward-looking statements. Differences may result from actions taken by Coinstar, Inc. as well as those of third parties and from risks and uncertainties beyond Coinstar, Inc.'s control. Such risks and uncertainties include, but are not limited to, the effect of Coinstar, Inc.'s investment in SoloHealth, and the ability to adequately evaluate new automated retail concepts. The foregoing risks and uncertainties are illustrative, but by no means exhaustive. For more information on factors that may affect future performance, please review "Risk Factors" described in our most recent Form 10-K filed with the Securities and Exchange Commission. These forward-looking statements reflect Coinstar, Inc.'s expectations as of the date of this release. Coinstar, Inc. undertakes no obligation to update the information provided herein.
SOURCE Coinstar, Inc.