Dr. Koop To Close
Troubled Internet health information provider Dr. Koop LifeCare, Santa Monica, CA, will cease operations and liquidate its assets after failing to generate additional debt or equity financing. The company plans to file for Chapter 7 bankruptcy protection while it works through the liquidation pro­cess. Founded in 1998 by former U.S. Surgeon General C. Everett Koop, Dr. Koop LifeCare was designed to integrate health care information with the ability to purchase products online. In 2001 the company turned its attention to launching a line of vitamin and herbal supplements in an attempt to stimulate sales; however it failed to begin selling the products in time to generate much-needed new revenue.