KING OF PRUSSIA, PA - March 4, 2013 (Investorideas.com Newswire) Medical Alarm Concepts Holding, Inc. ( OTCQB: MDHI.PK ), 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 programs (Medicare and Medicaid)
related contracts on which Coventry Health Care, Inc.( NYSE:CVH
) may bid. Additional information regarding this contract can be viewed
on the website hosted by the US Securities & Exchange Commission at
the following link:
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
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
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
Additional information on the MediPendant can be viewed at www.MediPendant.com .
About MDHI ( OTCQB: MDHI.PK ),
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.
SOURCE: Medical Alarm Concepts Holding, Inc.
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113
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