KING OF PRUSSIA, Pa.,
Aug. 22, 2012 /PRNewswire/ -- Medical
Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), manufacturer of the
MediPendant™ two-way voice personal medical alarm, today announced
it has begun the process of shipping product to its new Northern
European customer. This initial order, which was announced on
June 20, 2012, is for 500 units, with
additional orders expected on an ongoing basis. Moreover, the
company is announcing today that it is placing another large order
with its factory in order to replenish inventory stock of the
MediPendant™. MediPendant™ inventory is expected to be
depleted soon due to continued growing demand for monthly
subscription contracts.
"We are very pleased to start the process of initial shipments
to our newest European partner," commented Steven Beeferman, Director of International
Sales and Marketing for Medical Alarm Concepts. "The
MediPendant™ is very flexible, not only relative to adding voice
prompts in other languages, but also relative to modifications that
will meet the technical standards of international telephone
systems. We look forward to serving this account moving
forward."
Earlier this summer, the company modified the MediPendant™ to
enable voice prompts in Danish, and the company's engineers are
currently working on adding additional languages for other
contracts currently in negotiations.
Due to growing demand and sales of the MediPendant™, the company
expects to deplete its current inventory of product very
soon. In response, management is placing an order with its
factory for additional inventory so there will be no lag in
available product at any time.
Ronnie Adams, CEO, commented,
"Both our monthly subscription and our distributor business
continues to grow at strong rates. As a result, we are now
able to forecast the need for additional inventory. We are
very pleased to have the cash available to acquire this additional
inventory without any borrowings or fundraising. The gross
margins from our growing monthly subscription base, when combined
with the gross margins from distribution-bound units, are quickly
growing to the point where we are virtually covering all of our
operating costs. As previously announced, we expect these
trends to continue moving us into sustainable profitability very
soon. We have begun the process of restoring our accounting
functions in order to prepare to return to fully reporting
status. In the meantime, we are excited about the growth we
are experiencing as the MediPendant™ grows in popularity."
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 medical alarm 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 go to 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.