The most famous doctor in America lent his name and his beard to a website. C. Everett Koop had been Surgeon General under Ronald Reagan, the man who warned the country about smoking and AIDS. In 1999 his Austin company promised to bring that same trust to the web, with health news, chat rooms, drug interaction checks and a lifelong personal medical record. The prospectus opened with his photograph. Investors loved the name.

Personal Medical Records, Inc.

The company started in Texas in July 1997 under the name Personal Medical Records, Inc. It became Empower Health, then drkoop.com in early 1999. Donald Hackett ran it as CEO, with Koop as chairman. The bet was that patients would come to the site for advice and stay for its tools and stores. Revenue would come from ads, sponsorships and sales of drugs and health products through partners.

The House Call Ends

drkoop.com priced its IPO at $9 a share in June 1999 and traded on Nasdaq as KOOP. The stock soared in its first weeks. But the site spent heavily on marketing and portal deals, and it never earned close to what it spent. By 2000 its own auditors doubted it could survive. The company moved to Santa Monica and kept searching for money. In December 2001 it shut down and filed for Chapter 7 liquidation.

Cover: The Doctor and Death, Wenceslaus Hollar. Art Institute of Chicago, public domain. Chosen for a doctor at his work (the house call).