Business
CardioComm Solutions Confirms Partnership with Versante Software Technologies for Software Licensing and to Market HeartCheck(TM) Devices Using ECG SMART Monitoring Services in India
TORONTO, ON / ACCESSWIRE / March 17, 2016 / CardioComm Solutions, Inc. (TSXV: EKG) ("CardioC...
About this update from Cardiocomm Solutions, Inc.
[{"type":"text","content":"CardioComm Solutions Confirms Partnership with Versante Software Technologies for Software Licensing and to Market HeartCheck(TM) Devices Using ECG SMART Monitoring Services in IndiaTORONTO, ON / ACCESSWIRE / March 17, 2016 / CardioComm Solutions, Inc. (TSXV: EKG) (\"CardioComm Solutions\" or the \"Company\"), a global medical provider of consumer heart monitoring and medical electrocardiogram (\"ECG\") software solutions, today announced it has entered into a sales, marketing and ECG services agreement with Versante Software Technologies Pvt. Ltd (\"Versante\"), a subsidiary of US-based Versante Technologies LLC.\nUnder the two-year renewable agreement Versante will develop sales and marketing channels for the handheld HeartCheck™ ECG devices and provide India-based ECG reading service to the consumer market as well as to long-term care facilities, small and medium sized clinics and hospitals in India. Versante has licensed the Company's GEMS™ Home and GUAVA I ECG viewing software and incorporated these technologies into their own ECG reading services by utilizing a Versante-India version of GEMS™ Home (\"GEMS™ Home India\") that will support customers who do not have access to ECG technicians or cardiologists. The Company confirms Versante has completed their market evaluation and are commercially ready following receipt of an initial order of HeartCheck™ ECG PEN devices.\nCardioComm Solutions will benefit from device sales as well as from receiving 30% of recurring ECG reading services revenue. Versante is projecting the purchase of 1,500 to 2,400 HeartCheck™ devices annually; however, the real revenue potential is expected to be derived from the ECG reading fees from each device. GEMS™ Home India installations will see an average of 25 to 50 cardiac patients per day. Each installation of GEMS™ Home India will undergo an annual and automated validation procedure through CardioComm Solutions' TELUS-based SMART Monitoring system, a procedure that will occur as long as the agreement with Versante is in place. \nThe HeartCheck™, GEMS™ and GUAVA I ECG viewing technologies were selected by Versante based on CardioComm Solutions' multi-year and multi-jurisdiction history of providing ECG monitoring solutions to laboratories, hospitals and physicians. In addition, ...