KING OF PRUSSIA, Pa.,
Oct. 10, 2012 /PRNewswire/
-- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK),
today announces the commencement of a major retail promotion that
will allow consumers to acquire the most advanced personal medical
alarm technology on the market today at very attractive
pricing. The company is also announcing today that customer
contract extension rates remain very strong with over 70% of retail
customers signing up for additional three, six, or twelve month
commitments to begin after the initial six month contract period
provided via the retail purchase.
Ronald Adams, CEO, of Medical
Alarm Concepts commented, "We are very proud of this promotion as
it will enable those who need it, to acquire this second generation
life-saving technology at a very attractive price with no
installation fees, long-term contracts, or installation
charges. We are providing the market place with a product we
feel is clearly superior and we are providing it at a very
attractive price. Medical Alarm Concepts is expecting very
robust sales and strong rates of contract upgrades when this
promotion kicks off on October
15th."
The coupon promotion, which is available via one of the largest
retailers in the country, allows for an additional $25 discount off the already very attractive
pricing. The package includes the MediPendant™, six months of
EMT-trained operator monitoring, replacement battery, belt, neck,
and armband attachments, and a door lockbox, so medical personnel
can gain access to the user's home in the event of an
emergency.
The Company has elected a conservative accounting treatment of
upgrade revenue by not charging customer's credit cards upon
initial sale, but as the contract extension period begins.
Considering the company began selling these contract extensions
approximately four months ago, beginning in December, Medical Alarm
Concepts will begin the process of charging customers who have
extended their contracts. Recognition of the revenue
associated with these contract extensions will occur as the
services are provided, and the cash flow associated will occur at
the beginning of the customer's renewal period.
Adds Adams, "Beginning in December we will begin recognizing
cash flows from the contract extensions sold four to six months
earlier. Just as our retail sales have consistently expanded
since the program was instituted, we expect a corresponding growing
of cash flow injection as the initial six-month contract periods
expire and as the contract extensions kick in. The result will be
strong growing cash flow for the corporation, which will move us
into an operating positive cash flow. We believe we are well
on our way to profitability and to producing strong gains in
shareholder value. While this retail promotion is very
important to Medical Alarm Concepts, we stress to our investors
that the company was already strongly trending toward
profitability, a much stronger balance sheet and fully reporting
SEC status. This promotion, and the hundreds of new
MediPendant™ sales and contract extensions it is expected to
generate, holds the promise to meaningfully accelerate this
process. We could not be more pleased with where we are as a
corporation, and as we continue to make investments and
improvements to maximize shareholder value. It is clearly a
very exciting time at Medical Alarm Concepts."
The MediPendant™ is a second-generation personal medical alarm
and the only product in its category that allows for monitored,
two-way communications directly through the pendant. Older
generations of technology require the user to be in close proximity
to the base station in order to speak and listen to the
operator. With the MediPendant™, the customer can be
anywhere within 600 feet of their home, and in the event of an
emergency, speak and listen to the EMT-trained operator directly
through the pendant.
Additional information on the MediPendant™ can be viewed at
www.medipendant.com.
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.
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.