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CardioComm Solutions Contracts Distribution Broker for Launch of the HeartCheck(TM) PEN to U.S. Retailers (ccnm)
TORONTO, ONTARIO--(Marketwire - May 18, 2012) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm Solutions" or the "Company") has selected New York based Integron, Inc. ("Integron") as its distribution, supply logistics and warranty support provider. The agreement follows a series of meetings held between the two companies with execution of the completed agreement during the recent American Telemedicine Association meeting in San Jose, CA.
"We have had an excellent response to our pre-launch marketing efforts for the HeartCheck™ PEN and as we advance into full production mode, we needed to secure order fulfillment, inventory controls and retail relations administration capabilities. By engaging a company with specific expertise in deploying telehealth, tele-monitoring, remote patient monitoring, direct to patient fulfillment and wireless device inventory and services management, CardioComm Solutions will be able to remain focused on our core device production and global electrocardiogram ("ECG") management software business activities," reported Etienne Grima, CEO for CardioComm Solutions. "Integron was selected based on their 25 years as a logistics and deployment firm with significant expertise and infrastructure to manage, deploy and support specialized services to the healthcare marketplace. Integron offers us exactly what we need in our next steps for HeartCheck™ PEN sales throughout the US market".
The three year renewable agreement will provide CardioComm Solutions with full product distribution capabilities to support bulk and single unit HeartCheck™ PEN sales to retail clients and to consumers. Costs for the services will be based on a per unit fee anticipating minimum shipment volumes of 100,000 units per year.
"With product availability scheduled for late summer to meet an "America first" launch, the addition of a logistics and order fulfilment company to CardioComm Solutions' network of resources will ensure that we remain focused on device production, new device integration and HeartCheck™ SMART Monitoring services implementation," said Dr. Anatoly Langer, Chairman of the Board of Directors for the Company.
"The completion of these negotiations comes at a very opportune time, as our first production run of 3,500 HeartCheck™ PEN units will be completed in June with a second 5,000 unit order soon after for pre-launch sales in the USA. With just over 200 product enquiries though the recent HospiMedica publication alone, we are planning to increase order sizes progressively," said Simi Grosman, member of the CardioComm Solutions Board of Directors.
About INTEGRON
INTEGRON is a M2M (Machine-to-Machine) Deployment Services company. We specialize in helping clients design, deploy and manage wireless M2M solutions. INTEGRON has developed practice specialization in home telehealth/remote patient monitoring, critical asset monitoring, remote service and billing solutions. INTEGRON is ISO 13485 compliant, and holds an FDA Registration for medical device kitting. INTEGRON is headquartered in Rochester, New York.
About CardioComm Solutions
CardioComm Solution's 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, Inc. is headquartered in Toronto, Canada, with offices in Victoria, B.C.
Forward-looking statements
This release may contain certain forward-looking statements 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. By their nature, forward-looking statements 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima
CardioComm Solutions, Inc.
Chief Executive Officer
1-877-977-9425
egrima@cardiocommsolutions.com
www.cardiocommsolutions.com
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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