CardioComm Solutions Executes Distribution and Co-Marketing Agreement to Promote HeartCheck(tm) PEN Sales and SMART Monitorin...
23 Janvier 2014 - 11:04PM
Access Wire
TORONTO, ONTARIO - CardioComm Solutions,
Inc. (TSX VENTURE:EKG) ("CardioComm
Solutions" or the "Company") today announced that it has completed
a HeartCheck(TM) and SMART Monitoring distribution and co-marketing
agreement ("Agreement") with Reka Health, Inc. (REKA), a US based
company. REKA will promote sales of the HeartCheck(TM) PEN through
their own, proprietary international distribution channels,
including US-based accountable care organization ("ACO") patient
portals.
The Agreement
confirms CardioComm Solutions will integrate the REKA E100, a
Smartphone connected, handheld, single lead, 30 second ECG cardiac
event monitor with CardioComm Solutions' patent-pending SMART
Monitoring ECG service to support physician prescribed use of the
REKA E100. In return, REKA will co-promote the HeartCheck(TM) PEN
ECG as their over-the-counter ("OTC") solution for ECG
self-monitoring. Both companies will share in the SMART Monitoring
service revenue where REKA has managed the sale of either the
HeartCheck(TM) PEN or the REKA E100. Additionally, CardioComm
Solutions plans to expand their HeartCheck(TM) OTC 510K clearance
from the Food and Drug Administration ("FDA") to include the REKA
E100. CardioComm Solutions will benefit with a share of the revenue
from the sale of each REKA device and REKA will benefit from ECG
reading service revenue derived through the SMART Monitoring ECG
service.
"Introducing new ECG monitoring devices that use a Smartphone to
transmit data, rather than an internet connected computer, will
allow us to access a larger SMART Monitoring ECG service market. By
working with groups such as REKA, we can realize increased use of
the ECG service through their developed sales channels and benefit
from a device royalty for each SMART Monitoring compatible REKA
E100 that is sold globally. Further, we aim to incorporate the REKA
E100 under our own HeartCheck(TM) OTC clearance to benefit from the
Smartphone dependent OTC market for ECG screening and monitoring,"
said Simi Grosman, member of the Company's Board of
Directors.
The Companies will
pair their respective technologies where the REKA Smartphone
application and HIPPA compliant cloud-based platform (REKA Cloud)
will direct all HeartCheck(TM) enabled REKA E100 devices to
transmit recorded ECGs into the CardioComm Solutions SMART
Monitoring environment. The REKA Smartphone
App is compatible with AndroidTM
OS and iOS(R)
Smartphones. From there,
customers will be able to receive ECG reports through the
CardioComm Solutions GEMS Home and/or through the REKA Cloud.
CardioComm Solutions holds a unique market distinction of having
independent Class II medical device FDA clearances on their ECG
viewing and reporting software technology used within the SMART
Monitoring ECG service. Such clearances to view and report ECGs,
regardless of the device used to record and transmit the ECG file,
is important in enabling physicians to confidently render reliable ECG interpretations. Such clearances
will strengthen both Companyies efforts to access markets such as
the veterans' administration-based ACO patient portals, which are
now interested in providing both prescribed and OTC access to ECG
monitoring services to their patients.
"CardioComm Solutions has been evaluating several different
devices for integration into the SMART Monitoring ECG service.
Devices of highest interest are those that are already available on
the market with prescription use FDA clearance, can be manufactured
in high volumes and can communicate through cellular technologies
by pairing with a Smartphone or with their own internal GSM
capabilities. Such device manufacturers will provide the hardware
platform while CardioComm Solutions will provide the OTC clearance
under the HeartCheckTM brand for North American sales and the SMART Monitoring ECG
software platform for ECG reading services globally," said Etienne
Grima, Chief Executive Officer for CardioComm Solutions.
About CardioComm Solutions
CardioComm Solutions' patented and
proprietary technology is used in products for recording, viewing,
analyzing and storing electrocardiograms (ECGs) for diagnosis and
management of cardiac patients. Products are sold worldwide through
a combination of an external distribution network and a North
American-based sales team. The Company has earned the ISO 13485
certification, is HPB approved, HIPAA compliant, and has received
FDA market clearance for its software devices. CardioComm Solutions
is headquartered in Toronto, Ontario, Canada, with offices in
Victoria, B.C.
FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x 227
investorrelations@cardiocommsolutions.com
www.cardiocommsolutions.com
Forward-looking statements
This release may
contain certain forward-looking statements and forward looking
information with respect to the financial condition, results of
operations and business of CardioComm Solutions and certain of the
plans and objectives of CardioComm Solutions with respect to these
items. Such statements and information
reflect management's current beliefs and are based on information
currently available to management. By their
nature, forward-looking statements and forward-looking information
involve risk and uncertainty because they relate to events and
depend on circumstances that will occur in the future and there are
many factors that could cause actual results and developments to
differ materially from those expressed or implied by these
forward-looking statements and forward-looking
information.
In evaluating these
statements, readers should: specifically consider risks discussed
under the heading "Risk
Factors" in the Company's Annual Information
Form, available at www.sedar.com; not to place undue
reliance on forward-looking statements and forward-looking
information; be aware the Company does not assume any obligation to
update the forward-looking statements and forward-looking
information contained in this Annual Information Form other than as
required by applicable laws, including without limitation Section
5.8(2) of National Instrument 51-102 (Continuous Disclosure
Obligations).
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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