Navigation Links
MDHI Receives Term Sheet for Working Capital and Acquisition Financing -- Company Hits Profitability on Recurring Revenues
Date:11/20/2012

KING OF PRUSSIA, Pa., Nov. 20, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today announced the signing of a financing term sheet with GPE Holdings, Inc., which does business as the Gramercy Millennium Group.  The initial $1,050,000 Series A Preferred stock investment is based on a fully diluted post-money valuation of $6,075,000.  The lead investor will also have an option to invest an additional $5.1 million within six months of closing on the same terms.  Use of proceeds from these transactions will be for working capital to grow Medical Alarm Concepts Holding's business operations and to complete two targeted acquisitions.

"This major investment is a testament to the success we have already achieved and an endorsement of the plans we have for the future," said Ronnie Adams, CEO of Medical Alarm Concepts. "These proceeds will allow us to accelerate our reporting with the SEC, which remains one of our top priorities, and to allow us to further enhance our domestic and international distribution. Finally, we plan to acquire one company in its entirety and we are planning to take a large stake in another expected very fast growing operation. This investment is about creating additional value for current and future MDHI common shareholders, our management team members, and our new investment partners."

Mr. Adams continued, "Over the past few months the company has realized a very steep ramp in its revenue growth rate due to acceleration in monthly monitoring services contracts.  These monthly contracts produce very high quality and high margin recurring revenues and grow each day as new customer contracts are added.  The Company has now reached the point where contracted monthly recurring revenues exceed the expected expenses.  The company plans to operate on a profitable basis for full-year 2013.  It is expected that acquisition revenues will enhance this operating profitability and meaningfully add to overall shareholder value.  We are very excited to have a fund the caliber of Gramercy Millennium Group on board with MDHI to not only invest in our operation, but to provide valuable management insight to help us grow, prosper and create additional shareholder value."

Additional information on the MediPendant™ medical alarm can be viewed at www.MediPendant.com.

About MDHI

Medical Alarm Concepts Holdings, Inc. (MAC) develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. MediPendant's™ patented two-way voice technology enables the user to speak and listen directly through the pendant no matter where the user may be in and around their home. MediPendant™ service also includes advanced features such as three-way calling that enables the operator to link loved ones directly into the emergency call in real time.  Text message alerts are also standard, and are used to inform loved ones that the user has contacted an operator or has requested assistance. A standard PERS system does not enable the user to speak and listen through the pendant, thus limiting them to a small area in their home. There is always the risk that the user will not be heard by the call center operator if they are not within a short range of the base station.

Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.

Contact:
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113


'/>"/>
SOURCE Medical Alarm Concepts Holding, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. PAREXEL Chief Operating Officer Dr. Mark A. Goldberg Receives Special Recognition Award
2. Leica Biosystems Receives FDA Approval for the Fully Automated Bond Oracle™ HER2 IHC System on the Leica BOND-MAX
3. Nephros Receives 510(k) Clearance for Hemodiafiltration System
4. ProUroCare Medical Receives FDA Clearance for ProUroScan Elasticity Imaging System
5. BONESUPPORT Receives Red Herring 2012 Top 100 Europe Award
6. Diabecline Antibiotic Receives Edison Award for Best New Pharmaceutical Product
7. Lexicon Receives Funding for Phase 2 Clinical Trial of LX4211 in Type 1 Diabetes
8. Alexza Receives Complete Response Letter for Adasuve™ NDA
9. Ventana Receives FDA Clearance for p53 (DO-7) Image Analysis and Digital Read Applications
10. Marshall Edwards Receives $4 Million Subscription From Novogen In Rights Offering
11. New Chronic Wound Treatment Device Receives Award from Veterans Healthcare Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/4/2017)... Korea , Oct. 4, 2017  South Korean-based ... next-generation CPR training aide "cprCUBE" on Kickstarter. The device ... compression during cardiac arrests with better efficiency compared to ... also offers real-time feedback on efficacy of the compression ... crowdfunding campaign has a goal to raise $5,000. ...
(Date:10/2/2017)... , Oct. 2, 2017  AllianceRx Walgreens Prime, the ... by Walgreens and pharmacy benefit manager Prime Therapeutics LLC ... brand, which included the unveiling of new signage at ... as well as at a few other company-owned facilities ... brand to patients, some of whom will begin to ...
(Date:9/27/2017)... -- Commended for their devotion to personalized service, SMP Pharmacy Solutions ... in the South Florida Business Journal,s 50 Fastest-Growing Companies, and ... the national specialty pharmacy has found its niche.  To that ... be honored by SFBJ as the 2017 Power Leader in ... receive his award in October, Bardisa said of the three ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... , ... The Visiting Nurse Association (VNA) of Somerset Hills is proud to ... unique items from across the nation, this holiday-themed event will raise funds and awareness ... VNA. The boutique will be open Saturday, November 4 (10:00 a.m. – 5:00 ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... will be giving viewers the lowdown on sciatica in a new episode of ... that focuses on current events and innovation and investigates each subject in-depth with ...
(Date:10/12/2017)... WILMINGTON, Del. (PRWEB) , ... October 12, 2017 ... ... technology and advisory services for healthcare compliance program management, will showcase a range ... and National Association for Assisted Living (NCAL) Convention and Expo to be held ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... IsoComforter, Inc. ... products, announced today the introduction of an innovative new design of the shoulder pad. ... so you get maximum comfort while controlling your pain while using cold therapy. By ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa ... contributed a medical article to the newly revamped Cosmetic Town journal ... the hair transplant procedure known as Follicular Unit Extraction (FUE). , ...
Breaking Medicine News(10 mins):