CardioComm Solutions Inc V.EKG

Alternate Symbol(s): EKGGF

Healthcare Medical Devices

CardioComm Solutions, Inc. is a global medical provider of consumer heart monitoring and medical electrocardiogram (ECG) software solutions. The Company’s technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. It develops advanced software, hardware and core laboratory reading services related to ECG and ambulatory arrhythmia monitoring systems for medical and consumer markets globally. Its Global ECG Management Solutions (GEMS) and GlobalCardio (Cloud based GEMS) products are licensed worldwide to hospitals, ECG commercial reading services and physicians. The Company is also engaged in manufacturing, marketing, and sales of personal ECG monitors direct to consumers. The products are marketed under the HeartCheck brand. It has developed compatibility of the HeartCheck device to its GEMS and GlobalCardio based software to enable use of the device for remote ECG/arrhythmia monitoring services.

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CardioComm Solutions Inc

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Comment by word99on Feb 21, 2019 10:34pm

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Post# 29397610

RE:This article suggests min. $150 million min.

TORONTO, ONTARIO - CardioComm Solutions, Inc. ("CardioComm" or the "Company") (TSX VENTURE:EKG) a leading global provider of consumer heart monitoring and electrocardiogram ("ECG") acquisition and management software solutions confirmed today progress on a royalty licencing agreement with Redwood City, California-based Biotricty Inc. ("Biotricity"). The royalty payment phase became active following confirmation that all necessary clearance and software development pre-conditions have been achieved.

Based on the extensive knowledge and experience CardioComm has in the ECG services market, Biotricity contracted with the Company in order to provide support for development of Biotricity's ECG viewer software, so that they were appropriately tooled to target the USA-based mobile cardiac telemetry services market. Leveraging the Company's GlobalCardio™ and GUAVA ECG viewer software technologies, the browser-based, custom software solution developed was a unique product designed to specifically meet the requirements of the Bioflux device.

Royalty fees are due from the use of the ECG software Cardiocomm developed, or any derivative products, on a per patient monitored basis. At the start of the work, CardioComm received an advance on the per-patient royalty fees equating to the first 12,500 monitored patients. Reaching that level of patient penetration is anticipated to take up to 24 months from December 15, 2017 (Bioflux's FDA clearance date). At the end of the two year period CardioComm expects to see appreciable royalty payments of $150,000 annually at a minimum.