FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
March 5, 2018
TORONTO, ONTARIO - CardioComm Solutions, Inc. ("CardioComm" or the "Company") (TSX VENTURE:EKG) is pleased to announce that it held business meetings with 25 technology companies during an Ontario Trade Delegation visit to Japan and Korea from February 20 to 27. The meetings were arranged through the assistance of the Ontario Ministry of International Trade with Global Affairs Canada representatives in Japan and Korea, the Osaka Prefecture Government, Economic Affairs Government of Ontario at the Embassy of Canada to Korea, Intralink Limited and direct marketing efforts by CardioComm. The Company confirmed the likelihood of letters of intent and cooperation agreements to result over the next few months.
CardioComm used this Trade Mission to: (1) meet with regional device manufacturers interested in HeartCheck™ compatibility certification; (2) pursue telemedicine partnership opportunities at a time when Japan is implementing new telemedicine initiatives; and, (3) demonstrate near-real-time remote patient monitoring using the Company's SMART Monitoring ECG reading telemedicine technology and its newest wireless consumer and hospital use ECG /arrhythmia monitoring Bluetooth connected devices.
The Company provided attendees at the Japan Medical 2018 exhibition a preview of the Company's pipeline of up and coming wirelessly connected devices which includes 12 lead ECG SMART shirts, ECG sensing fitness bands, handheld devices and a 12 lead ECG chest band. These devices are already pre-qualified as HeartCheck™ compatible and have connectivity to CardioComm's GEMS™ Mobile Smartphone ECG management app and to its GEMS™ software platform which is currently utilized by hospitals across the USA and Canada.
The Company also demonstrated its GEMS™ Mobile Rx app intended for use by physicians on Android and iOS based Smartphones and tablets. GEMS™ Mobile Rx enables healthcare professionals to now use ECG interrogation tools previously available only on the server based GEMS™ WIN hospital software on their own Smartphone without the need for accessing CardioComm's cloud based SMART Monitoring ECG service. If a second opinion is required, an ECG review through SMART Monitoring is available. For Windows based Smartphones and computers the Company will release GEMS™ Home Rx.
CardioComm continued discussions with Intralink Limited who assisted in coordinating many of the business-to-business meetings during the Japanese leg of the Trade Mission. Intralink offers a range of pre- and post-market entry services, including market research and strategy development, partner search and selection, and local representation. Intralink works with clients to commercialize technology, secure foreign direct investment, and source capital from strategic investors. The medical market in Japan provides a large opportunity to introduce North American standards for cardiac outpatient monitoring. In Japan there are approximately 100,955 medical clinics and 1.5 million hospital beds in 8,480 hospitals (2015 statistics, www.mhlw.go.jp). Directives issued under the Japanese Health, Labor and Welfare Ministry are introducing new medical fee reimbursements related to the implementation of telemedicine platforms with an effective date of April 1, 2018. The new reimbursement fees will support Japanís efforts to encourage doctors to offer medical counseling over the internet. Of specific relevance to CardioComm is the implementation of a new telemedicine fee for mobile ECG monitoring at a value of 1500 JPY per ECG (approximately Cdn$18.29).
The Company will provide further updates as they are realized.
To learn more about the CardioComm Solutionsí products, please see the Companyís websites www.theheartcheck.com and www.cardiocommsolutions.com or contact the Company at firstname.lastname@example.org.
CardioComm Solution's patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. CardioComm Solutions is cleared by the FDA for the sales of a consumer based HeartCheckTM PEN handheld EKG device and home version of its proprietary GEMSTM Home software. Products are sold worldwide through a combination of an external distribution networks 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 and devices. 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 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).
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.