FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
May 14, 2019
TORONTO, ONTARIO - CardioComm Solutions, Inc. (TSX VENTURE: EKG) ("CardioComm" or the "Company"), a leading global medical provider of consumer heart monitoring and electrocardiogram ("ECG") acquisition and management software solutions, announced today that its GEMS™ Universal ECG app (“GEMS™ Universal”), a version of the Company's US Food and Drug Administration (“FDA”) cleared and Health Canada approved GEMS™ Mobile ECG app, is now available for download from the Google Play store and will be available on Apple's App Store within the next two weeks.
GEMS™ Universal ECG is compatible with several OEM and private-label handheld ECG devices, including those manufactured by Beijing Choice (P10), BORSAM Biomedical Instruments (WeCardio), BodiMetrics (Check Me and Vitals Rx), Cardiac Design (ECG Check) and Contec Medical Systems (PM10). CardioComm will continue to expand device compatibility on an on-going basis.
GEMS™ Universal is a slimmed-down version of the Company’s Health Canada approved, FDA cleared and CE Mark-certified, hospital-based Global ECG Management System (GEMSTM). GEMS™ Universal will target non-HeartCheck™ branded ECG device users, and will allow for access to CardioComm's fee-for-use SMART Monitoring ECG reading service, through which users can generate unlimited, medical-grade ECG PDFs or request a review of their ECGs on a fee-for-review basis to confirm the presence or absence of arrhythmias.
GEMS™ Universal will be available under two subscription fee models:
- A monthly Subscription: $6 US monthly with one free ECG interpretation included with each renewal.
- An annual Subscription: $69 US annually with 12 free ECG interpretations included that can be requested at any time during the renewable one year subscription.
Once the free ECG reviews have been used, additional readings may be requested for $1.99 US for an ECG triage or $12.50 US for a physician interpretation.
CardioComm will leverage the existing market presence, brand awareness, and well developed distribution channels of its new device partners to build sales and generate revenues for its GEMS™ Universal ECG app. To ensure engagement, CardioComm will share revenues generated from the subscription fees for the GEMS™ Universal app and from SMART Monitoring ECG readings with device manufacturers. Revenue sharing and percentages will be contingent upon device manufacturers actively promoting the use of GEMS™ Universal with their devices. In some instances, GEMS™ Universal will be promoted as the only English language app for foreign device manufacturers. Marketing and promotion will include GEMS™ Universal ECG and CardioComm branding and promotion through their websites and distribution networks. Device partners will also be required to advertise and run demos of GEMS™ Universal with devices at trade shows in regions where they have already established sales channels and hardware sales.
For further updates regarding GEMSTM Mobile ECG device partnerships please see the Company’s websites at
CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms 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. CardioComm Solutions has earned the ISO 13485 certification, is HIPAA compliant and holds clearances from the European Union (CE Mark), the USA (FDA) and Canada (Health Canada). CardioComm Solutions, Inc. is headquartered in Toronto, Canada.
INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
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 management's 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).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.