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Drkoop raises money, plans name change

Drkoop.com raised $5 million in a private stock placement, the Santa Monica, Calif.-based company said Thursday. The online health-services company issued 500,000 shares of preferred stock at $10 a share. Each share of the preferred stock is convertible into common shares of Drkoop's stock, initially at a 1-to-125 rate. Drkoop.com also announced that it is changing its name to Dr. Koop LifeCare Corp. The name change, which follows the company's acquisition of home health-care provider IVonyx last week, is subject to shareholder approval.

Drkoop.com raised $5 million in a private stock placement, the Santa Monica, Calif.-based company said Thursday. The online health-services company issued 500,000 shares of preferred stock at $10 a share. Each share of the preferred stock is convertible into common shares of Drkoop's stock, initially at a 1-to-125 rate. Drkoop.com also announced that it is changing its name to Dr. Koop LifeCare Corp. The name change, which follows the company's acquisition of home health-care provider IVonyx last week, is subject to shareholder approval.