Biosign and EasyMed Sign LOI to Collaborate on Mobile Health Offering
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TORONTO, Dec. 5, 2011 - Biosign Technologies Inc. (TSXV: BIO) ("Biosign")and EasyMed Services, Inc. (CNSX: EZM) (OTCBB: EMYSF) ("EasyMed")are pleased to announce they have executed a Letter of Intent to collaborate on a joint product offering and to enter into bilateral distribution of each other's product offerings.
Mobile Health (mHealth), an area of electronic health (eHealth), is the provisioning of health services and information via mobile technologies such as mobile phones, Personal Digital Assistants (PDAs) and smartphones. According to Research & Market 2009's "U.S. Healthcare IT Market Analysis" study, the American mobile health market is estimated to be worth $2.1 billion at the end of 2011 and is expected to grow with a CAGR of nearly 22% from 2012 to 2014. Providing patient facing solutions for healthcare providers and payers is anticipated to open significant underserviced markets for both Biosign and EasyMed's products.
Under the terms of the LOI:
o Biosign and EasyMed will enter into distribution and reseller agreements of each other's product offerings;
o Biosign and EasyMed shall jointly develop new healthcare products and will share the revenue and intellectual property through a joint venture partnership;
o EasyMed shall become a mobile technology provider for Biosign's future release of Healthanywhere(TM); and
o Biosign shall promote the "Powered by EasyMed" brand to be launched as part of these agreements.
Biosign intends to interface its UFIT® devices into Easy SmartCare from EasyMed and will make the offering available within North America. The platform provides benefits for payers, providers, and patients through improved patient preparation for medical visits, decreased absenteeism, better information for both the patient and the caregiver, improved communication of medical results to the patient, and enhanced outpatient management. As part of the platform, the easymedmobile app is available on the App Store from Apple; alternatively, users can sign up at easymedmobile.com.
EasyMed is a global medical information technology company delivering an end to end patient care solution through mobile phone/PDA and server technologies offering specialized services and applications for healthcare, insurance and pharmaceutical industries.
"As we move forward on focusing our business towards cardiovascular disease (CVD) management, it is imperative to address mobility in today's age of anywhere, anytime customers." stated Dr. Scott Jenkins, CEO of Biosign. "Our agreement with EasyMed enables us for mobility and marks a significant step towards our goal of becoming a leading technology provider for CVD management within the Healthcare IT ecosystem."
Andy Ritchie, CEO of EasyMed commented, "Since 2005 EasyMed has worked diligently with major hospitals and healthcare providers to develop workflow driven solutions that reduce costs and provide better quality of care. The partnership between Biosign and EasyMed is very exciting because it brings together two great technologies which will allow us to deliver a leading edge new solution for patient care".
The LOI is subject to the completion of definitive agreements, which are anticipated to be completed by December 31, 2011.
About EasyMed Services, Inc.
EasyMed Services, Inc. (CNSX: EZM) (OTCBB: EMYSF) provides technology solutions for healthcare organizations to enable the delivery of healthcare services on mobile devices while saving costs and improving operational efficiency. The technology platform implements the latest industry standards, is readily integrated into existing hospital environments, and complies with HIPAA and multi-national regulations. For more information on EasyMed, please visit: www.EasyMedmobile.com.
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides biomedical systems. Key applications include intelligent systems for noninvasive monitoring of common health risks associated with blood pressure, lifestyle, and medication. The core technology combines measurement, analysis, and rapid knowledge formation to support health monitoring across global markets. The UFIT® medical device technology powers quality data collection and analytics for clinical diagnostics, self-care, wellness, disease state evaluation & management, and remote patient monitoring. For more information on Biosign, please visit www.biosign.com
SOURCE Biosign Technologies Inc.
CONTACT:
Scott Jenkins, CEO
Biosign Technologies Inc.
Phone: (416) 218-9800 ext. 234
Email: ceo@biosign.com
Jared W. Scharf , CFO
EasyMed Services, Inc.
(416) 662 3971
js@easymedmobile.com
