KING OF PRUSSIA, Pa.,
March 1, 2012 /PRNewswire/ -- Medical
Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK) today issued an
update on its business activities and on its pending merger with
Carrollton, Texas based
FirstFitness Nutrition Inc., a leading provider of weight loss,
wellness, energy, and fitness nutritional products.
While both companies continue to move forward with the due
diligence process, it is a large undertaking for both sides.
Originally, the merger was projected to be finished by the end of
February. However, it looks like the process is going to take
longer than expected in order to ensure the success of the merger,
and to confirm that it is in the best interest for both MDHI,
FirstFitness, and all others involved.
"It is very important to MDHI to make certain this deal is
accretive to all shareholders, and that FirstFitness will be a good
long term partner," said Ronnie
Adams, CFO of Medical Alarm Concepts. "In addition to the
FirstFitness merger, we are looking at several other accretive
business opportunities as well. Our goal is and always has
been to build a company with solid earnings, cash flow, and a
strong balance sheet, and we believe we are well on our way to
accomplishing this goal. We thank all of our shareholders for their
continued support as we work to build a sound and growing
organization."
In the meantime, MDHI continues to see a solid increase in
revenue growth rates as a result of new marketing programs, and the
introduction of new products and services.
MDHI plans to announce several updates early next week,
including its largest purchase order to date, its new media
initiatives in conjunction with Harrington Multimedia, and details
regarding its recent agreement for a national direct-to-consumer
mail and print media campaign with one of the country's largest
direct mail providers.
In addition, MDHI is continuing the process of updating its
financials for recently ending periods, and plans to file these
results with the Securities & Exchange Commission in order to
once again become a fully reporting organization.
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. (MAC) develops and
manufactures innovative products and practical solutions within the
framework of a vast growing marketplace. MediPendant's™
patented two-way voice technology enables the user to speak and
listen directly through the pendant no matter where the user may be
in and around their home. MediPendant™ service also includes
advanced features such as three-way calling that enables the
operator to link loved ones directly into the emergency call in
real time. Text message alerts are also standard, and are
used to inform loved ones that the user has contacted an operator
or has requested assistance. A standard PERS system does not enable
the user to speak and listen through the pendant, thus limiting
them to a small area in their home. There is always the risk that
the user will not be heard by the call center operator if they are
not within a short range of the base station. For more information,
please visit our website at www.medipendant.com.
Safe Harbor Statement
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the
Company's actual operating results to be materially different from
any historical results or from any future results expressed or
implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties,
readers are urged to consider statements that contain terms such as
"believes," "belief," "expects," "expect," "intends," "intend,"
"anticipate," "anticipates," "plans," "plan," to be uncertain and
forward-looking. The letter of intent outlined in this press
release is nonbinding on either party, and while both parties
intend for the merger to be consummated, there is no assurance that
a definitive agreement will take place. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
Company's filings with Securities and Exchange Commission.
Contact:
Medical Alarm Concepts Holding, Inc.
877-639-2929 ext. 113
SOURCE Medical Alarm Concepts Holding, Inc.