WESTBURY, N.Y., March 17, 2014 /PRNewswire/ -- Vasomedical, Inc. ("Vasomedical") (OTC BB: VASO), a diversified medical technology company specializing in the design, manufacture and sale of medical devices, including EECP® Therapy systems, the gold standard of ECP therapy, today announced that its wholly owned subsidiary Biox Instruments Co. Ltd., based in Wuxi, China, has received approval from the Chinese Food and Drug Administration (CFDA) to begin marketing its new MobiCare Wireless Patient Monitors in China.
MobiCare Wireless Patient Monitor is a vital signs monitoring system that acquires and displays multiple physiological signals, including electrocardiogram (ECG), blood pressure, respiration, peripheral capillary oxygen saturation (SpO2), body temperature, as well as provides real-time detection and alerts for certain abnormalities in these vital signs. Unlike traditional bedside patient monitoring systems, the MobiCare system transmits patient signals wirelessly to a touch-screen tablet receiver or a bedside monitor. The MobiCare system's wireless connectivity untethers patients from the bedside monitor allowing them movement within a certain range. The Biox MobiCare system will first be sold to hospitals in China as a new type of bedside patient monitor, in order to cultivate acceptance of the technology and set the stage for future introduction into the fast growing global home care market.
"Our MobiCare system is a breakthrough into the relatively mature but still growing market of vital sign monitoring devices. More importantly, with its current configuration and planned future derivatives, the MobiCare system provides a natural bridge to telemedicine and home care systems, putting us in a strong position in these healthcare markets of the future," commented Dr. Jun Ma, President and CEO of Vasomedical. "This innovative device is another example of making good on our promise to deliver advanced quality products at affordable prices so that patients all over the world may benefit as we continue to build shareholder value in our company."
The MobiCare prototypes were first exhibited in November 2013 at CMEF Autumn 2013 in Xiamen, China and at MEDICA 2013 in Dusseldorf, Germany, and then at Arab Health 2014 in Dubai, UAE in January 2014. Based on the positive feedback from attendees at these events, the Company is preparing applications for CE marking and US FDA clearance.
Vasomedical, Inc. is a diversified medical technology company specializing in the manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products. The Company's main proprietary products are EECP® Therapy systems, the gold standard of ECP treatment. The Company operates through three wholly owned subsidiaries: Vasomedical Solutions, Vasomedical Global and VasoHealthcare. Vasomedical Solutions manages and coordinates the design, manufacture and sales of EECP® Therapy systems, and other medical equipment operations; Vasomedical Global operates the Company's China-based subsidiaries; and VasoHealthcare is the operating subsidiary for the exclusive sales representation of GE Healthcare diagnostic imaging products in certain market segments. Additional information is available on the Company's website at www.vasomedical.com.
About Biox Instruments
Biox Instruments Co., Ltd., a wholly owned subsidiary of Vasomedical, is based in Wuxi, Jiangsu Province, China. With long established expertise in miniaturization and low power consumption medical devices, it is a leading company in ambulatory monitoring systems consisting of ECG Holter recorders, ambulatory blood pressure monitoring (ABPM) systems as well as related analysis and reporting software. Biox is in full compliance of revered quality and manufacturing standards such as ISO 13485, ISO 9001, US FDA cGMP as well as the Medical Device Directive of the European Union. Biox products are FDA Cleared, CE Marked and Health Canada Listed. Furthermore, Biox continues to provide OEM and OED services to many businesses that require effective solutions to product design and performance. Additional information is available on the Company's website at www.biox.com.cn.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipates", "believes", "could", "estimates", "expects", "may", "plans", "potential" and "intends" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in the healthcare environment; the impact of competitive procedures and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of clinical trials and other product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; uncertainties about the acceptance of a novel therapeutic modality by the medical community; continuation of the GEHC agreement; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
SOURCE Vasomedical, Inc.