Grandparents.com, Inc. And Cegedim, Inc. Form Strategic Alliance To Provide Instant Cash Rebates On Consumer Goods And Services And Pharmaceutical Products Nationwide
NEW YORK, April 2, 2013 /PRNewswire/ -- Grandparents.com, Inc. (OTCBB: GPCM) announced today that the OPUS HEALTH Division of Cegedim Inc. -- part of the billion dollar, global Cegedim Group led by Cegedim, SA (EURONEXT: CGM), entered into an Alliance Agreement with Grand Card, LLC, a subsidiary of the company, under which the two companies would implement a national roll out of an instant cash rebate card. A patent application was filed with the U.S. Patent and Trademark Office in August 2012.
The "Grand Card" was developed to provide instant rebates on purchases of consumer goods and services and to consolidate prescription drug rebate offerings by multiple pharmaceutical manufacturers onto a single card. The cards will function as debit cards "pre-loaded" with instant cash rebates provided by manufacturers for purchases of consumer goods and services and pharmaceutical products at participating retail outlets and pharmacies. Applications for the Grand Card will be available in the second half of 2013 through affinity card issuers and on the Grandparents.com website.
The company is currently in discussions with a number of strategic partners for distribution of the cards. To date, a number of Fortune 500 companies, manufacturers and service providers have executed letters of intent to participate in the program. The cards will be issued primarily through affinity programs with retailers, employers, unions and associations nationwide.
"We are proud to have been invited by Grandparents.com to join forces as technology partner for the venture," said Paul Kandle, Vice President and General Manager of OPUS Health. "Each side brought important concept development ideas to the table, but the key to providing instant cash for buyers of prescriptions in the near term across the U.S. is that our technology is fully connected and operational at over 60,000 pharmacies. We will be expanding into retail outlets nationwide and, eventually, this opportunity could well grow into a global business, wherever debit cards are accepted."
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