KING OF PRUSSIA, Pa.,
March 4, 2013 /PRNewswire/
-- Medical Alarm Concepts Holding, Inc. (OTCPink: MDHI), today
provided details about its recently accelerating growth rate and a
contract signed with a diversified national insurer where Medical
Alarm Concepts will become a provider of personal medical
alarms.
Under the terms of the new agreement, the diversified national
insurer will offer the Company's MediPendant® product and monthly
monitoring services to subscribers of selected healthcare programs.
Additionally, the Company's MediPendant® product has been, or may
be, included in their dual demonstration program (Medicare and
Medicaid) related contracts on which they may bid. Additional
information regarding this contract can be viewed on the website
hosted by the US Securities & Exchange Commission at the
following link:
http://www.sec.gov/Archives/edgar/data/1443089/000147124213000073/mdhifeb262013.htm
Mr. Ronnie Adams commented, "We
are expecting this contract to generate growth in revenues and
earnings. As a result of gaining this contract, we plan to expand
our business operations in the areas of manufacturing, financial
management, research and development, and logistics."
Over the past few months Medical Alarm Concepts has been
experiencing strong growth in revenues due to an expanding retail
presence, strong Internet sales and new international
opportunities. Having now reached operational cash flow
profitability, the Company is expecting to report positive cash
flow for the full quarter ending March 31,
2013 and throughout calendar 2013.
"We are very pleased that our cash flow will be based on very
high quality recurring revenues. Our retail partnerships
remain strong. This week we began the first of two promotions
that are scheduled for the late winter and early spring period.
Thus far, sales have been extremely robust, which is strongly
adding to our recurring monthly revenue base. We are expecting
calendar 2013 to be a year of very strong growth and cash flow,"
said Mr. Ronnie Adams.
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 along with
patented voice prompts. 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 approximately 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.