TORONTO, ONTARIO--(Marketwire - Feb. 14, 2012) - CardioComm Solutions, Inc. (TSX VENTURE:EKG.V - News) ("CardioComm Solutions" or the "Company") and Italian-based Meditel S.R.L. (Milan, Italy; "Meditel") have executed a four year Software License, Usage and Service Agreement. The agreement will allow Meditel the continued use of CardioComm Solutions' proprietary, internet-based ECG service software known as GlobalCardio(TM). GlobalCardio(TM) is a software-as-a-service ("SAAS") offering that utilizes a technology platform similar to the Global ECG Management System (GEMS(TM)), but within an internet-based, virtual application that is scalable and optimized for simplified setup, configuration and remote management by CardioComm Solutions.
"Meditel operates a medical call centre that supports general practitioner offices, hospitals, university research clinics and over 500 pharmacies in Italy by offering arrhythmia monitoring services and resting 12 lead ECG acquisition. Meditel's interpreting cardiologists use GlobalCardio(TM) to access transmitted ECGs from CardioComm Solutions' servers regardless of where the specialist is geographically located. Use of GlobalCardio(TM) can provide the referring physician ECG reports securely and within minutes via a web-based reporting engine. The nature of the virtualized SAAS GlobalCardio(TM) systems allows CardioComm Solutions' customers to access the service without any material upfront investment," said Etienne Grima, CardioComm Solutions' CEO.
The GlobalCardio(TM) solution system is the same SAAS-based solution that is utilized by the CardioComm Solutions Coordinating Centre ("C4") ECG service into which the recently announced hand held HeartCheck(TM) PEN and HeartCheck(TM) ECG monitors have been integrated.
CardioComm Solutions has also confirmed the start of the first commercial production run of the HeartCheck(TM) PEN. "The recent one million dollar exercise of warrants by MD Primer Inc. has provided CardioComm Solutions with an immediate infusion of unencumbered cash allowing us to proceed with the ordering of 3,200 HeartCheck(TM) PEN devices. These devices are being produced to support a soft product launch of the HeartCheck(TM) PEN and to initiate a C4 web-service market review with the HeartCheck(TM) PEN scheduled for later this year. We look forward to the completion of what has been a fast-paced and successful HeartCheck(TM) PEN commercialization initiative and to moving forward with its global product launch," added Mr. Grima.
About Meditel S.R.L.
Meditel promotes innovative telemedicine services through an Italian pharmacy, physician and hospital network servicing over 500 pharmacies throughout Italy offering 12 lead ECG tests, loop event monitoring and other telemedicine services with GlobalCardio(TM) as the backbone to their system.
About CardioComm Solutions, Inc.
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, Inc. is headquartered in Toronto, Canada, with offices in Victoria, B.C.
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.
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