/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE
SERVICES/
TORONTO, Feb. 6, 2014 /CNW/ - Biosign Technologies Inc. (TSXV: BIO)
("Biosign" or the "Company") is pleased to announce the execution of a
Memorandum of Understanding with Novosante Healthcare, a division of Sharjah UAE based Gulf Holdings LLC.
Biosign attended Arab Health 2014 at the invitation of the Government of
Ontario, with a presence in the Ontario booth. During Arab Heath, the
Company met several times with His Excellency Sheikh Sultan bin Khalid al Qassimi, Chairman & CEO of Gulf Holdings, a diversified conglomerate that owns
over 50 companies. Novosante is a newly created subsidiary of Gulf
Holdings, focusing on marketing and distributing cutting-edge medical
and healthcare technology.
The terms of agreement between Biosign and Novosante are as follows:
Novosante will be an exclusive agent for Biosign products in the Gulf
Cooperation Council Region which covers the United Arab Emirates, the
Kingdom of Saudi Arabia, Kuwait, Oman, Qatar, and Bahrain. In addition,
Novosante will represent Biosign in Iraq and Jordan. In other
territories where Gulf Holdings has a presence, Novosante will partner
with Biosign on a non-exclusive or conditionally exclusive basis.
Commercial efforts will focus on selling Biosign software solutions that
are ready for immediate deployment in the region, including
Healthanywhere™, ClinicServer™, PencilThat™ and QCARE™. Meanwhile,
Novosante will expedite the approval process for the Biosign Pulsewave®
Health Monitor system with the various regional Ministries of Health,
which will fast-track import approval for Pulsewave® devices.
The agreement stipulates minimum revenues to Biosign of $5 million USD over an initial 60-month term. The parties agree to complete a
definitive distribution agreement as soon as possible but no later than
March 31st, 2014.
Biosign CEO Robert Kaul stated: "We are pleased to execute this
agreement with Novosante. Our experience in the region has underlined
the importance of working with the right partners. There could be no
better partner and mentor than Sheikh Sultan, who enjoys a worldwide
reputation as a visionary businessman and investor. Statistics indicate
that the countries of the Gulf Region suffer from some of the world's
highest rates of hypertension, type 2 diabetes and other health
challenges. Our engagement with Novosante and Gulf Holdings immediately
positions Biosign for success in this important and growing market."
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, software
enabled health information solutions including the Pulsewave® Health Monitor and the Healthanywhere™ Patient monitoring /
self-management platform. The Company's Pulsewave® Health Monitor solution enables pulse wave data collection for
cardiovascular clinical decision support and self-care, while its
Healthanywhere™ solution offers industry-leading remote patient
monitoring and patient centred care management. The Company also offers
a number of cardiovascular screening programs for consumers under its
Heart Friendly™ brand, including Heart Friendly™ Practice, Heart
Friendly™ Dentist, and Heart Friendly™ Fitness. For more information on
Biosign, please visit www.biosign.com
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words believes,
expects, anticipates, estimates, intends, plans, or similar
expressions. Forward-looking statements are not guarantees of future
performance. They involve risks, uncertainties and assumptions and
Biosign's actual results could differ materially from those
anticipated. Forward looking statements are based on the opinions and
estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. In the context of any
forward-looking information please refer to risk factors detailed in,
as well as other information contained in the company's filings with
Canadian securities regulators (www.sedar.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.
SOURCE Biosign Technologies Inc.
