finally some news
Biosign investor update
TORONTO, May 29, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) ("Biosign" or the "Company") announced:
New Sales Agent / Value Added Reseller
Biosign has partnered with IBL-Internet Business Logic Inc ("ClinicServer"), a developer of Cloud-based clinical management software, based in Saint John New Brunswick to jointly integrate Biosign's Pulsewave™ health monitor technology and Healthanywhere™ telehealth monitoring platform into ClinicServer's "ClinicServer Flex™" clinical management software solution. Both ClinicServer and Biosign will sell the resulting integrated package. Based on the success of the Heart Friendly Dentist program, Biosign actively sought out a partner who could address the rapidly growing market for Allied Health practice optimization solutions. ClinicServer is a genuine pioneer and technology innovator within the Allied Health market.
Biosign CEO Robert Kaul stated "ClinicServer is a pioneer in creating simple, powerful software solutions for health care practitioners. Their innovative PencilThat application is enabling better customer engagement, while also providing substantial workflow improvements and therefore cost savings for the clinic. By adding precise vital sign measurements to the ClinicServer patient record, as well as offering cost effective in home monitoring, the integrated ClinicServer-Biosign solutions are going to be very powerful. We look forward to not only approaching ClinicServer's large base of existing customers in Canada, but also to co-marketing our combined solution throughout North America, starting immediately"
ClinicServer CEO Chris Boudreau commented "With ClinicServer's rapidly expanding market presence in Allied health both within Canada and abroad we identified a great value added benefit with Biosign's Pulsewave™ product for our customer base." He went on to say: "Currently, in Canada and abroad, health care spending has reached crisis levels. More and more of the public are looking to Allied health professionals to augment their primary care options, to help manage their overall wellness, prevention and treatment of disease. We believe that ClinicServer, combined with Pulsewave™ technology, will accelerate our growing clinic management solutions market share over the next five years. We are pleased to have the opportunity to work closely with The Biosign team to make that happen"
Initially ClinicServer will function as a sales agent for Biosign, and Biosign will sell Pulsewave™ units & vital sign monitoring services to ClinicServer™ users. Effective at the signing of the agreement, ClinicServer will apply to Health Canada for a Medical Device Establishment License ("MDEL"), which allows companies in Canada to stock and resell approved medical devices. Upon receipt of their MDEL, ClinicServer will become a Value-Added Reseller for Pulsewave™.
Starting immediately existing ClinicServer customers who operate ClinicServer Flex™ software will be able to use Pulsewave™ to monitor patients in the clinic. Settings within the Pulsewave™ software currently allow vital sign readings to be saved to the clipboard and posted into patient records with one click. This feature is used extensively by Dental Clinics operating under the Heart Friendly Dentist program. A future release of Pulsewave™ software, integrated into ClinicServer Flex™ through a secure, encrypted API, will automatically export vital sign readings straight from Pulsewave™ into the patient record.
ClinicServer and Biosign will jointly introduce their integration concept at the Health Fusion 2013 Conference & Expo, sponsored by the Canadian Association of Naturopathic Doctors ("CAND") from June 7th to 9th in Ottawa ON. Sales to existing ClinicServer customers will begin immediately after the initial integrated software is tested and meets quality requirements.
According to the latest Labor Statistics, there are over 5 million allied health practitioners in North America who form the core market for the combined ClinicServer™-Pulsewave™ solution. These clinicians will purchase ClinicServer & Pulsewave™ software as a service, paying a recurring annual license fee. Biosign and ClinicServer will split these fees on a pro rata basis. An innovative referral program also incentivizes clinicians to prescribe Pulsewave™ units and services for home use. Each allied health customer who receives a personal Pulsewave™ report from their clinician will qualify for a discount on their own Pulsewave™ unit by purchasing online through Biosign's web store and entering a discount coupon code that is included with their report. The clinic will then receive either a rebate on their program fees or a direct commission.
The Biosign Pulsewave™ Monitor is an end-to-end solution for non-invasive monitoring, analysis and reporting of health data. The Pulsewave™ cuff painlessly captures the pulse waveform from a person's radial artery and transmits it to the secure Biosign servers in the cloud. Biosign algorithms are employed to analyze the data in seconds in order to generate reports that include blood pressure, heart beat anomalies and other vital sign measurements. In addition, online Pulsewave™ analysis and reporting tools give patients and healthcare providers secure access to real-time and historical health information.
The Biosign Pulsewave™ Monitor will be an excellent addition to an already impressive "Cloud" software solution offered by ClinicServer.
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, computer enabled health information products. Key applications include the noninvasive monitoring of vital signs including blood pressure, pulse rate and breathing rate, enhanced with web services. The Company's Pulsewave™ medical device technology powers data collection for clinical decision support, self-care, wellness and disease management, while its Healthanywhere™ software suite offers industry-leading remote patient monitoring solutions. The Company offers a number of cardiovascular screening programs for consumers under its Heart Friendly™ brand, including Heart Friendly™ Dentist. For more information on Biosign, please visit www.biosign.com
About Internet Business Logic Inc (ClinicServer):
Internet Business Logic Inc. ClinicServer provides subscription based "Cloud" healthcare software, offering Allied health practitioners a complete, secure, clinic management platform to effectively manage all aspects of a clinic including scheduling, patient records, workflow, billing and patient portal for various online communications inclusive of online booking of patient appointments. With a customer base in Canada, USA and the UK, our solutions are used by Physiotherapists, Chiropractors, Registered Massage Therapists (RMT), Reflexologists, Naturopathies, Pedorthics, Speech-Language Pathologists (SLP), Traditional Chinese Medicine, Occupational Therapists, Kinesiologists, Laser Therapy Clinics, and Acupuncturists. For more information on ClinicServer, please visit www.ClinicServer.com
Biosign also announced:
Issuance of Options of the Company
Further to the Company's press releases dated March 15, 2013 and March 18, 2013, the Company has issued an aggregate of 2,200,000 stock options in connection with the recent appointments of certain directors and officers of the Company. In connection with their appointment to the board of directors, 600,000 options were issued to each of Dr. Sandeep (Sonny) Kohli and Mr. Dennis Rygwalski. These options expire in five years, have an exercise price of $0.10 per share, being a premium to the current market price, and are subject to vesting as follows: 75,000 options shall vest immediately, with the remaining options vesting in equal amounts on each of the following three month anniversaries of the date of grant. In connection with his appointment as Chief Financial Officer, 1,000,000 options were issued to William Randolph Polley. These options expire in five years, have an exercise price of $0.10 per share, being a premium to the current market price, and are subject to vesting as follows: 250,000 options shall vest immediately, with the remaining options vesting in equal amounts on each of the following sixth, twelve, and eighteenthmonth anniversaries of the date of grant.
Completion of shares for debt transactions
The Company has issued an aggregate of 3,755,807 shares pursuant to several shares for debt transactions. 1,000,000 shares were issued to a former officer of the Company, 755,807 shares were issued to a former director of the Company and 2,000,000 were issued to a company controlled by a director of the Company. The shares for debt transaction involving the former officer of the Company was subject to disinterested shareholder approval and approval from the TSX Venture Exchange (the "TSXV"). The shares for debt transactions involving the former director and a company controlled by a director of the Company were subject to TSXV approval.