KING OF PRUSSIA, Pa.,
Jan. 31, 2012 /PRNewswire/ -- Medical
Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today announces that
it has received its first subsequent order as part of a large
ongoing commitment the Company previously announced on November 21, 2011. This purchase order, which
will be delivered in monthly installments throughout 2012,
represents the company's single largest order to date.
"In November 2011, we announced a
significant purchase order from one of our largest distribution
partners," commented Ronald Adams,
President of Medical Alarm Concepts. "We are very excited to
announce that we have started to receive orders under this large
contract, and that we are working with our manufacturing partner to
significantly expand production of our patented MediPendant™
medical alarm device. We anticipate our profit from this contract
will represent a substantial portion of our annual overhead. With
our new television campaign launching this past weekend, and our
other marketing programs in the works, we believe we are
well-positioned to take market share in this robust and expanding
space."
Mr. Adams continued, "Both end user customers and distributors
are responding to our marketing message. With our patented, speak
and listen through the pendant technology, we offer a superior
medical alarm technology at a price that is highly competitive. We
are expanding our distribution not only through the orders we are
announcing today, but also via our partnerships with other vendors
including Albertsons, Harrington Multimedia, and other big box and
wholesale clubs. In addition, we now also have the financing
arrangements in place to support our working capital needs in order
to grow our business and expand shareholder value."
Medical Alarm Concepts recently announced a proposed merger with
Carrollton, Texas-based
FirstFitness Nutrition Inc., a leading provider of weight loss,
wellness, and energy and fitness nutritional products. The combined
operation is expected to produce over $12
million in revenues this year, and to yield both positive
earnings and cash flow. Since the announcement of the proposed
merger, revenues at FirstFitness have been accelerating due to
increased interest in the weight loss category and enhancements to
its marketing efforts. The companies have set February 28, 2012 as the proposed closing date
for the merger.
In other news, the Company has been successful in negotiating
the cancellation of an additional 10.5 million in money warrants,
which is in addition to the cancellation of the 15.5 million in
money warrants announced last week. The Company is expecting
additional warrant cancellations and convertible debt cancellations
over the next several weeks. These cancellations are part of an
ongoing program to reduce shareholder dilution and to meaningfully
improve the Company's balance sheet and future income statement
performance.
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. (MAC) develops and
manufactures innovative products and practical solutions within the
framework of a vast growing marketplace. MediPendant's™
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.medicalalarmconcepts.com.
About FirstFitness Nutrition
FirstFitness Nutrition, headquartered in Carrollton, Texas is a leading provider of
wellness, weight loss, and energy and fitness products. The Company
has been in business for more than 20 years. Chairman of
FirstFitness Nutrition, Lee Causey,
is a pioneer in the weight loss and sports nutrition
industries. In the early 1960s, he began to lay the
groundwork for the first ever "diet shake," a product, which today
is manufactured by hundreds of companies, and responsible for
generating billions of dollars in sales worldwide.
Before long, Lee became known as a wellness expert to many
celebrities, athletes and notable leaders. In the 70s, he broke new
ground with the creation of his first nutritional company "Slender
Now," which was touted by the Wall Street Journal as the fastest
growing privately held company in history. He has since created
more than 300 nutritional and weight loss products and, along with
Nigel Branson, founded FirstFitness
Nutrition in 1989. The Company distributes its products via a
dynamic sales channel consisting of more than 5,000 dedicated men
and women who market the products to consumers in all fifty U.S.
states. For more information on FirstFitness Nutrition please visit
the Company's website at www.firstfitness.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 letter of intent outlined in this press
release is nonbinding on either party, and while both parties
intend for the merger to be consummated, there is no assurance that
a definitive agreement will take place. 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.
Contact:
Medical Alarm Concepts Holding, Inc.
(877) 639 2929 x 113
SOURCE Medical Alarm Concepts Holding, Inc.