SOURCE: Medical Alarm Concepts
KING OF PRUSSIA, PA--(Marketwired - Feb 10, 2015) - Medical Alarm Concepts Holding, Inc. (OTC PINK: MDHI) (MDHI) (the Company), creator of the patented MediPendant® personal medical alarm device that provides users with a reliable and innovative way to communicate with emergency personnel and loved ones whenever medical assistance is needed, today announces record demand for its newly launched next generation mobile medical alert device, the iHelp™.
Medical Alarm Concepts has had an overwhelmingly positive response from dealers and distributors regarding the features, functionality, and affordability of the new iHelp™ mobile medical alarm. From the initial one thousand (1000) manufactured units received by Medical Alarm Concepts last week, two hundred and fifty (250) units have now been shipped to distributors, while another two hundred and fifty (250) are scheduled for shipping. Early market feedback demonstrates that demand for the iHelp™ could surpass Medical Alarm Concepts' inventories. In anticipation of this increase in demand, the company has ordered additional units for delivery as soon as possible.
Mobile medical alarms or mPERS enable the user to wear and use their medical alert pendant both inside and away from their home. Unlike regular home medical alert systems, these mobile medical alert pendants will work anywhere there is cellular service, enabling even active users to enjoy the benefits of a medical alarm while on the go. According to market research firm, Frost & Sullivan, the mPERS market is expected to gain significant traction to become the preferred single emergency deployment technology for new sales by the end of 2017.
With the launch of the iHelp™, Medical Alarm Concepts has positioned itself for expansion and growth. And, in its commitment to ensure full transparency with shareholders, Medical Alarm Concepts is also currently in the process of finalizing all financials for its second quarter filings ending December 31, 2014. These current filings would continue its pledge to file all SEC documents in a timely manner.
Preliminary unaudited highlights for the second quarter filings include growing sales quarter-over-quarter, as well as increases in expenses solely attributed to the development of the iHelp™, including manufacturing, research & development and marketing expenses, in addition to increased overhead costs due to new personnel hires. Medical Alarm Concepts is confident that the launch of the iHelp™, the continuing research and development of new products and services, and an updated business plan, will translate to increased gross profits that will far outweigh the current increases in expenses.
"The mobile medical device market presents an exciting opportunity for Medical Alarm Concepts. We've launched the iHelp™ with an expressed objective of providing a unique, innovative, and affordable solution for seniors and anyone concerned about their well-being. We anticipate continued growth in demand for the iHelp™ medical alert device and are continuing to develop other products in the evolving mobile medical arena. This is just the beginning," said President and CEO, Ronald Adams.
About Medical Alarm Concepts Holding, Inc.
Medical Alarm Concepts Holding, Inc., a publicly traded company under the symbol MDHI, is the creator of the MediPendant® a patented two-way and three-way medical alarm, as well as the iHelp™ mobile medical alert, a state-of-the-art mobile personal emergency response system (mPERS). The MediPendant® has been featured in nationally renowned retailer Costco Wholesale Corporation since 2011 and has received 28 product reviews on the retailer's website, 21 of which are "5 out of 5 Star" ratings. The average rating is "4.5 Stars" out of 5 Stars.
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.