KING OF PRUSSIA, Pa. - March 6, 2013 (Investorideas.com Newswire) Medical Alarm Concepts Holding, Inc. (OTCQB:MDHI), today announced it has received an investment led by strategic partner, JTT-EMS LTD of Shijiazhuang, China. Under the terms of the investment, JTT-EMS purchased restricted common stock, which it plans to hold as a long-term investment. The financing, including additional investments by current shareholders, will total approximately $330,000.
"This is exciting financing for our Company that will allow us to
maintain our strong growth," commented Ronnie Adams, CEO. "This
strategic investment is straight common equity in the Company, which
must be held for an extended period of time. There are no warrants,
options, or any other enhancements. Over the past two quarters our
business has turned the corner with strong growth, allowing us to reach
positive cash flow. Because this growth is based on high quality
recurring monthly revenues, we believe the positive operating cash flow
we will report beginning in the March 2013 quarter will be sustainable
The demand for the MediPendant® continues to grow at a rapid pace
as a result of strong sales from the Company's retail partnership and
growing online orders. Medical Alarm Concepts recently announced the
signing of a major diversified national healthcare insurer that will
offer the Company's MediPendant® product and monthly monitoring services
to subscribers of selected healthcare programs. Additionally, the
product will be included in the insurance carrier's dual demonstration
program (Medicaid and Medicare) related contracts on which it may bid.
Use of funds from this new strategic investment will be primarily
for inventory acquisition to meet growing demand. Secondary uses of
funds will include completing the process of restoring the Company to
fully reporting status, additional marketing programs, further
reductions in trade payables, and general working capital.
The MediPendant® is a second-generation personal medical alarm and
the only product in its category that allows for monitored, two-way
communications and associated voice prompts 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.
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.
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113
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