KING OF PRUSSIA, Pa.,
May 10, 2012 /PRNewswire/
-- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK),
today announced it has revised its agreement with the patent holder
of the MediPendant™ technology, which extends the use of the
intellectual property rights for its lifesaving personal medical
alarm technology through the end of March
2013. The Company remains current on all financial
obligations related to use of this patent, and the working
relationship between the parties remains strong.
"The recent capital injected into the Company has allowed us to
accomplish much over the past few months," commented Ronald Adams, CFO of Medical Alarm Concepts. "We
have been able to remain current in our patent payments and we have
been able to significantly increase our MediPendant™ inventory
levels, with additional deliveries expected over the coming weeks.
Additionally, we have been able to increase our marketing efforts
for both of the MediPendant™ product and our new MotorBooster™
product line. We are very happy to announce the extension of the
intellectual property rights. As we have indicated previously, over
the past few months we have leveraged several large orders for the
MediPendant™ that cover a significant amount of our monthly
overhead costs through the end of this year. These new revenues,
when combined with our non-dilutive credit line that is now in
place, well equip the Company to continue to accelerate our
marketing efforts."
Medical Alarm Concepts expects to return the MediPendant™ to
television advertising over the coming weeks via two separate and
distinct television advertising campaigns. The Company's
MediPendant™ marketing partner, Harrington Multimedia, has recently
completed shooting an updated and enhanced television commercial
with final edits currently taking place. In addition, Medical
Alarm Concepts is currently shopping for media time for a parallel
television advertising campaign.
About MDHI
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 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.