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Company Benefits from Unique Chinese, Hong Kong, Macau Diagnostic Patent Rights, and Closes Deal to Help America Now
NEW YORK, NY, March 23, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Parallax Health Sciences, Inc. (PRLX) (''Parallax'' or the ''Company''), an outcome-driven connected healthcare company, today announced that a wholly-owned subsidiary, Parallax Diagnostics, Inc., has signed a contract with a medical distribution company in China owned by a prominent businessman well-known to the Company. Beginning today, the Company is accepting orders for and has immediate availability of the Coronavirus, (“COVID-19”) Point-of-Care Diagnostics Kits for American medical practices, hospitals, nursing operations, emergency centers, and nursing homes. In response to the present national market demand related to the COVID-19 pandemic the Company will also be providing immediate availability and access to Personal Protection Equipment, (“PPE”) including, but not limited to, FDA approved medical masks, protective sterile gowns, eye protecting goggles, face shields, ventilators, and other medical grade equipment. Parallax is also providing free downloads of its patented Good Health Outcomes Remote Patient Monitoring, (“RPM”) platform that enables comprehensive telehealth capabilities.
The Company has created a Government and Medical Practice website to process orders immediately. It has access to large inventories of all the available products and is offering the products in all fifty U.S. states and all U.S. territories from the Company’s website located at www.goodhealthoutcomes.com.
Nathaniel Bradley, President of Parallax Health Management, stated, “Our Good Health Outcomes remote patient monitoring application is the only system that has our patented Data-Driven Outcome and FotoDigm® technology.” Mr. Bradley continued, “these capabilities allow us to capture in real-time the test results achieved from the test kits we are offering through this partnership today. Further, our platform enables care providers to communicate with patients remotely and conserve their use of PPE and serve the communities of the U.S. remotely, leveraging encrypted and Health Insurance Portability and Accountability Act, (“HIPAA”) compliant video, audio and data communications.”
"While our relationship with these suppliers in China formulate into a much more meaningful and robust partnership near-term, our long-term goals remain intact related to our patented diagnostics portfolio and our ultimate distribution of industry leading handheld point-of-care diagnostics,” stated Paul Arena, Chief Executive Officer of Parallax Health Sciences, Inc. Mr. Arena added, “The deployment of lateral flow-through point-of-care testing kits combined with our Good Health Outcomes Remote Patient Monitoring technology was a natural and expedient way for us to begin. We were also fortunate to have the U.S. Federal Government lift sanctions and tariffs on medical products from China that opened up this opportunity, while we work out the bigger relationship, and for Parallax to immediately provide a solution to fill the void of overwhelming demand related to Personal Protective Equipment currently being experienced throughout the entire American medical system. We are committed to keeping the price fixed and as low as possible for U.S. Medical Companies that purchase from us and we are managing through a number of significant initial orders from New York, California, Arizona, and other states. We are focused on helping our medical system recover fully and for us all to get back to the important work that we all do.”
About Parallax Diagnostics
Parallax Diagnostics is a bio-medical company and wholly owned subsidiary of Parallax Health Sciences, Inc. Parallax Diagnostics owns a line of 26 FDA approved, Point of Care diagnostic tests on a single platform in the area of infectious disease, cardiac, medical conditions, drugs of abuse, and pregnancy. Parallax Diagnostics is developing a novel, handheld diagnostic testing system that is simple, rapid and elegant, offering the potential to transform the diagnostic landscape by transitioning critical tests from the centralized lab directly to the hands of the physician or clinicians. Our focus is on tests that detect and/or monitor infectious diseases.
About Parallax Health Sciences
Parallax Health Sciences is a leading-edge technology, outcome-driven telehealth company that allows for cost-effective remote diagnosis, treatment, and monitoring of patients through proprietary platforms of integrated products and services. The Company's interoperable novel applications provide patients point-of-care testing and monitoring with information communicated via internet-based mobile phone applications that are agnostic as to operating system and are built on highly sophisticated data analytics. Information is retrieved in real-time by physicians who are monitoring patients with chronic diseases or through biometric feedback for health-related behavior modification, and is automated for integration into electronic health records. The Company's products and offerings capitalize on the digital transformation in healthcare for improved patient compliance, diagnosis and treatment, and support healthcare system cost savings and efficiencies. For more information, please visit www.parallaxhealthsciences.com or www.parallaxcare.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our Form 10-K and other reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Paul Arena, CEO
SOURCE: Parallax Health Sciences, Inc.