FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
April 26, 2017
TORONTO, ONTARIO - CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”) a consistent, global medical provider of consumer heart monitoring and medical electrocardiogram ("ECG") software solutions, today announced it has entered into a development, distribution and co-marketing agreement with Israel-based HealthWatch Technologies Ltd. ("HealthWatch") for the development, sales and marketing of a smart shirt based wireless ECG, vital signs and arrhythmia monitoring solution.
Under the terms of the Agreement, CardioComm will develop software and communications compatibility between HealthWatch's newly released, FDA cleared and wearable ECG monitoring technology and CardioComm's own FDA cleared family of ECG management software solutions. By combining their respective FDA medical device clearances the companies will be positioned to offer the only FDA cleared, 12 lead ECG device of its kind available globally. The announcement also indicates CardioComm may be working on introducing multi-bio sign monitoring into their ECG management software.
The companies plan to introduce the smart shirt into two separate markets. The first is the Company's GEMS™ WIN customer base, which includes over 90 medical installations within North America. Once the work is completed, GEMS™ WIN customers will be able to add use of the smart shirt to their current installations of GEMS™ WIN without a need to add new management software and/or learn new workflows. The second market will be to HealthWatch clients that utilize cloud-based workflows. According to Mr. Israel Schreiber, HealthWatch's CEO, "HealthWatch is on the verge of a breakthrough with a unique, life changing technology. We at HealthWatch look forward to making a vast change in the field of medical wearable products. Our joint venture with CardioComm will add another important aspect and level to the field of tele-health". To access this market, CardioComm will connect the smart shirt system through its next generation ECG management solution known as GEMS™ FLEX. GEMS™ Flex is based on the web application model, multi-tier architecture that can run on-premises or in a hosted environment and will operate on all modern browsers with full support for HTML irrespective of the underlying operating system. The software will allow for touch screen operation and accordingly will be compatible for use on mobile devices.
The technology to be released will address the global and unmet need for a credible solution to the collection and near-real time review of ECG and vital signs data for sports-based wellness surveillance markets as well as markets requiring long term ECG monitoring. The global cardiac monitoring market is projected to reach US $28 billion by 2021 with the ECG devices segment expected to account for the largest share (Markets and Markets, November 2016) and with North America accounting for approximately 45% of the global value of the ECG equipment sold (Inkwood Research, 2016).
The new smart shirt will provide consumers and patients with a solution that is superior to products manufactured with straps or electrodes with cables, or require the wearer to hold a monitoring device in his/her hand. The new shirt is also perfectly suited for athletes and sports enthusiasts who routinely monitor their ECGs while engaged in physical activity thereby opening up new markets for CardioComm. The Companies plan to offer a first version of a web-based, wireless, 12 lead, and wearable monitoring solution for sale before the end of 2017 into monitoring applications that include: mobile cardiac telemetry; arrhythmia and prolonged QT interval screening; ECG monitoring as an extension to in-hospital and in-clinic services; and, long-term managed care support for people living with chronic medical conditions.
To learn more about the CardioComm Solutions' products please see the Company's websites www.theheartcheck.com and www.cardiocommsolutions.com or contact the Company at firstname.lastname@example.org.
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.
INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
HealthWatch was founded in 2010 in Kfar Saba, Israel, and has developed the MasterCaution®l, the first and only 3-15 lead ECG smart digital garment that is CE/FDA-Cleared. It advocates a full management solution for the purpose of transforming healthcare, offering a digital health platform and virtual medical care intertwined with the Medical Internet-of-Things. This non-lifestyle changing disruptive technology, based on wearable textile-electrodes and heart-sensing sensors and technologies, contains a myriad of accurate digital health diagnostic services including mobile cardiac telemetry, patient monitoring tele-health services and other services that allow for in-home medical services. The MasterCautionís® continuous monitoring solutions assist clinicians in remotely monitoring their elderly or bed-ridden patients, while being alerted to cardiac events such as ischemia and arrhythmias in near real-time, securing personal health around-the-clock for improved patient safety.
FOR FURTHER INFORMATION PLEASE CONTACT:
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 managementís 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 not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release other than as required by applicable laws, including without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).
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