(via Thenewswire.ca)
TORONTO, ONTARIO / TNW-ACCESSWIRE / September 15 2014 / CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm Solutions" or the "Company") today confirmed that its binding letter of intent with Vigilance, Inc., which was previously announced by the Company on June 16, 2014, has been terminated after several rounds of negotiations with the Vigilance Board of Directors failed in developing acceptable terms for entering into a definitive long term working relationship.
"As acknowledged in our June press release, CardioComm Solutions' remote patient ECG monitoring technology platforms can allow diagnostic patient monitoring organizations to cross multiple monitoring verticals and offers a fit for technology development initiatives, data acquisition goals and growth objectives. Despite best efforts, we could not progress in establishing a business model that could meet the requirements of both organizations. At this point, CardioComm Solutions has decided to move ahead in its efforts to solidify our technology provider relationships with established cardiology-based clinical providers, monitoring services, and wireless device manufacturers," stated Etienne Grima, Chief Executive Officer of CardioComm Solutions.
More information about GEMS(TM) WIN and GlobalCardio(TM) can be found at the Company's website www.cardiocommsolutions.com.
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 2013 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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