KING OF PRUSSIA, Pa., Sept. 29, 2011 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI), today announces it has received a new commitment for capital that will be used to accelerate corporate growth and advance marketing programs for the MediPendant™, the first fully-monitored medical alarm system that allows users to speak and listen directly through the pendant. Approximately one third of this private investment group funding has already been received. The remaining portion will be invested into the operation over the next few months.
"We have always known that our patented product would change the future of the large and growing Personal Emergency Response System (PERS) market, but funding our operation has been difficult in this economic climate," commented Howard Teicher, CEO of Medical Alarm Concepts. "We are very pleased today to inform our investors, business partners, and suppliers, that we have aligned ourselves with an investment group that has both the wherewithal and the motivation to fully fund our business plan and allow us to reach our full potential. Over the coming weeks and months we plan to make use of these funds to implement several initiatives that we believe will significantly accelerate our revenue growth."
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. 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.
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. ("MAC") develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. We have built our reputation in the personal emergency response system ("PERS") and medical alert industry. With patented technology and state-of-the-art services, MAC is uniquely positioned to mobilize the right people, skills and alliances to ensure success and client satisfaction. Our design and support philosophy emphasizes industry best practices, while providing polished and savvy solutions. MAC's latest innovation is the development of its two-way voice speakerphone pendant technology. For more information, please visit our website at http://www.medalarmco.com.
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.
Medical Alarm Concepts Holding, Inc.
|SOURCE Medical Alarm Concepts Holding, Inc.|
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