KING OF PRUSSIA, Pa., Dec. 11, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today announces the replenishment of its inventories after completing several very successful retail promotions with one of the country's largest retailers. The receipt of these new inventory shipments will ensure the Company's continuity in delivery of the MediPendant™ to new customers. Additionally, the Company is announcing today it has signed an agreement with this retailer for participation in two additional promotions.
Customer reviews on this retailer's site have been very strong with ten current reviews being listed, all of which have been rated "Five Stars" out of five possible.
Mr. Ronald Adams, Company CEO commented, "We are very happy to report to our investors that the MediPendant™ units that we are currently shipping and the units we are currently receiving are operating flawlessly. Customer satisfaction is very strong and our return rates are extremely low. The MediPendant™ has been receiving strong reviews from our customers and strong referral rates. This is helping to accelerate our growth trajectory."
Commenting further Mr. Adams said, "Our sales have continued to be very strong resulting in us selling out nearly our entire inventory. Fortunately, we were able to time the arrival of new MediPendant™ units, enabling us to continue shipments without disruption. Our most current retail promotion generated over 600 incremental monthly monitoring contracts, which will add significantly to our fast growing monthly recurring revenue base. As we have indicated previously, we have now sold enough monthly contracts so that this recurring revenue base exceeds our monthly outlays allowing us to be profitable for full year 2013."
Mr. Adams continued, "With our inventory restocked, we are preparing to launch two additional promotional programs with this retailer during the first half of the 2013. We also plan to order additional inventory over the short term, as we believe our current stocks will sell out rather quickly. We are clearly beginning to increase our market share and we expect to have a very strong 2013, which will be driven by high-margin and recurring monthly revenue streams from high-quality customers. We are very excited about our positioning moving into the New Year."
The MediPendant™ is a second-generation personal medical alarm and the only product in its category that allows for monitored, two-way communications directly through the pendant with voice prompts. Older generations of technology require the user to be in close proximity to the base station in order to speak and listen to the operator. With the MediPendant™, the customer can be anywhere within 600 feet of their home and in the event of an emergency, they can speak and listen to the EMT trained operator directly through the pendant.
Additional information on the MediPendant™ can be viewed at www.MediPendant.com.
Medical Alarm Concepts Holding, 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.
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.
Medical Alarm Concepts Holding, Inc.
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SOURCE Medical Alarm Concepts Holding, Inc.