FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
July 13, 2015
Announcement coincides with first Australian hospital GEMS™ WIN license sale
TORONTO, ONTARIO - CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”), a global medical and consumer provider of electrocardiogram ("ECG") acquisition and management software solutions, today announced it has entered into a distributor agreement with Innovative Medical Solutions ("Innovative Medical") located in Perth, Western Australia for development of commercial distribution channels for the sale of the HeartCheck™ PEN and the HeartCheck™ ECG Monitor as well as CardioComm Solutions' ECG management software solutions known as GEMS™ WIN and SMART Monitoring through consumer sales channels, pharmaceutical companies, pharmacies, hospitals, clinics and health care providers within Australia.
Completion of the agreement will allow CardioComm Solutions and Innovative Medical to benefit from software enhancements that will have to be undertaken in response to the deadline for WINDOWS operating system upgrades away from Server 2003. CardioComm Solutions has previously reported requirements for ECG service providers to replace their existing ECG management solutions to versions that are WIN 7 and Server 2008 compatible. CardioComm Solutions released its GEMS™ WIN software upgrade to the arrhythmia monitoring market in response to the 2014 discontinuation of XP support by Microsoft and the imminent discontinuation of Server 2003 in July 2015. Since 2003 Innovative Medical has formed and maintained long working relationships with large private and public cardiology practice groups and has access to large hospital tender processes throughout Australia. The arrhythmia monitoring market in Australia is underserviced especially from the perspective of being provided access to full-service ambulatory cardiac monitoring solutions compatible with wireless patient-worn ECG monitoring devices that are compatible with the new Windows PC and server based operating systems. As hospitals and cardiology practice groups prepare for the end of Server 2003 support by Microsoft, Innovative Medical will be uniquely positioned to provide their clients with affordable and compatible solutions to support their current and future rhythm monitoring requirements.
Innovative Medical will collaborate with Cardiac Innovations Australia Pty. Ltd., another CardioComm Solutions distributor who in January 2015 secured TGA certification for the sale of CardioComm Solutions' products into the Australian medical market through the Australian Register of Therapeutic Goods Certificate from the Department of Health, Therapeutics Goods Administration ("TGA"). Together, Cardiac Innovations and Innovative Medical Solutions will work under the TGA clearance with a focus on marketing into organizations active in cardiac device implantation and follow-up as well as supporting surveillance in the unexplained syncope and post-ablation patient population.
Innovative Medical Solutions reports that they have, with the support of Cardiac Innovations, successfully secured the sale of a CardioComm Solutions' GEMS™ WIN software platform to the new state of the art Western Australia state government 732 bed, $2 billion tertiary hospital which is the largest building project in Western Australian history. The hospital officially opened in February 2015.
Innovative Medical will promote the HeartCheck™ ECG devices to the cardiology market as an arrhythmia
screening tool for identification of patients with difficult to catch arrhythmias as an alternative to implanted
and expensive devices. For those individuals with characterized arrhythmias, the HeartCheck™ devices will
be promoted to assist with heart rate control monitoring, tracking of patient cardiac health in response to
implemented arrhythmia therapies and monitoring for new arrhythmia risks associated with other medical
conditions such as diabetes, hypertension and prior cardiac disease.
To learn more about the CardioComm Solutions products and devices compatible with GEMS™ WIN please
see the Company's website www.cardiocommsolutions.com or contact the Company at
CardioComm Solutions' patented and proprietary
technology is used in products for recording,
viewing, analyzing and storing
electrocardiograms (ECGs) 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. The Company has
earned the ISO 13485 certification, is HPB
approved, HIPAA compliant, and has received FDA
market clearance for its software devices.
CardioComm Solutions is headquartered in
Toronto, Canada, with offices in Victoria,
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
In evaluating these statements, readers should:
specifically consider risks discussed under the
heading "Risk Factors" in the Company's Annual
Information Form, available at www.sedar.com;
not to place undue reliance on forward-looking
statements and forward-looking information; be
aware. the Company does not assume any
obligation to update the forward-looking
statements and forward-looking information
contained in this Annual Information Form other
than as required by applicable laws (including
without limitation Section 5.8(2) of National
Instrument 51-102 (Continuous Disclosure
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