KING OF PRUSSIA, Pa., March 4, 2013 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCPink: MDHI), today provided details about its recently accelerating growth rate and a contract signed with a diversified national insurer where Medical Alarm Concepts will become a provider of personal medical alarms.
Under the terms of the new agreement, the diversified national insurer will offer the Company's MediPendant® product and monthly monitoring services to subscribers of selected healthcare programs. Additionally, the Company's MediPendant® product has been, or may be, included in their dual demonstration program (Medicare and Medicaid) related contracts on which they may bid. Additional information regarding this contract can be viewed on the website hosted by the US Securities & Exchange Commission at the following link:
Mr. Ronnie Adams commented, "We are expecting this contract to generate growth in revenues and earnings. As a result of gaining this contract, we plan to expand our business operations in the areas of manufacturing, financial management, research and development, and logistics."Over the past few months Medical Alarm Concepts has been experiencing strong growth in revenues due to an expanding retail presence, strong Internet sales and new international opportunities. Having now reached operational cash flow profitability, the Company is expecting to report positive cash flow for the full quarter ending March 31, 2013 and throughout calendar 2013. "We are very pleased that our cash flow will be based on very high quality recurring revenues. Our retail partnerships remain strong. This week we began the first of two promotions that are scheduled for the late winter and early spring period. Thus far, sales have been extremely robust, which is strongly adding to our recurring monthly revenue base. We are expecting calendar 2013 to be a year of very strong growth and cash flow," said Mr. Ronnie Adams. The MediPendant® is a second-generation personal medical alarm and the only product in its category that allows for monitored, two-way communications directly through the pendant along with patented voice prompts. Older generations of technology require the user to be in close proximity to the base station in order to speak and listen to the operator. With the MediPendant®, the customer can be anywhere within approximately 600 feet of their home and in the event of an emergency, speak and listen to the EMT trained operator directly through the pendant.