King of Prussia, PA -- Medical Alarm Concepts Holding, Inc. (otcqb:MDHI.PK), today announced it has revised its agreement with the patent holder of the MediPendant technology, which extends the use of the intellectual property rights for its lifesaving personal medical alarm technology through the end of March 2013. The Company remains current on all financial obligations related to use of this patent, and the working relationship between the parties remains strong.
"The recent capital injected into the Company has allowed us to accomplish much over the past few months," commented Ronald Adams, CFO of Medical Alarm Concepts. "We have been able to remain current in our patent payments and we have been able to significantly increase our MediPendant inventory levels, with additional deliveries expected over the coming weeks. Additionally, we have been able to increase our marketing efforts for both of the MediPendant product and our new MotorBooster product line. We are very happy to announce the extension of the intellectual property rights. As we have indicated previously, over the past few months we have leveraged several large orders for the MediPendant that cover a significant amount of our monthly overhead costs through the end of this year. These new revenues, when combined with our non-dilutive credit line that is now in place, well equip the Company to continue to accelerate our marketing efforts."
Medical Alarm Concepts expects to return the MediPendant to television advertising over the coming weeks via two separate and distinct television advertising campaigns. The Company's MediPendant marketing partner, Harrington Multimedia, has recently completed shooting an updated and enhanced television commercial with final edits currently taking place. In addition, Medical Alarm Concepts is currently shopping for media time for a parallel television advertising campaign.
Medical Alarm Concepts Holdings, Inc. (MAC) develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. MediPendant's(TM) 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. For more information, please visit our website at www.medipendant.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.