KING OF PRUSSIA, Pa.,
Oct. 18, 2012 /PRNewswire/ -- Medical
Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK) today provides its
investors with preliminary results for its recently launched Fall
promotional activities, which officially began on Monday, October 15th. Thus far
sales have been brisk and are meeting the Company's
expectations. In only the first few days of the promotion,
over 125 units were ordered with most having already been shipped
to customers. The rate of customer upgrade to longer contracts
remains in excess of 70%, with the vast majority of customers
opting for additional twelve month terms. Twelve month
extension contract terms are provided at aggressive industry
rates.
Ronnie Adams, CEO, commented, "We
have staffed and budgeted for approximately 1,500 units to be sold
during the 30-day promotional period, which will generate some very
meaningful incremental revenues and strong gross margins. This is a
significant jump in MRR (Monthly Recurring Revenue) sales, which
had been running at approximately 200 MMR sales per month. We have
been able to tightly manage our fixed and variable expenses, and we
were already well on our way to profitability at the 200 MMR sales
per month. The additional units we are expecting to sell and ship
during the next 30 days will add approximately $20,000 to our MRR, which had already been
growing at a robust rate. This additional MRR, when combined
with our current MRR, will easily push us into operating
profitability. Once achieving profitability we are expecting
profits to continue to expand as the monthly recurring revenue
continues to grow incrementally each month."
In addition to MediPendant™ sales associated with monitoring
related monthly recurring revenues, the Company continues to sell
and ship products for one time gross margins to both domestic and
international distributors. This business is expected to grow
throughout the end of this year and into 2013.
The coupon promotion available via one of the largest retailers
in the country, allows for an additional discount off of the
already very attractive price. The package includes the
MediPendant™, six months of EMT trained operator monitoring,
replacement battery, belt, neck, and armband attachments, and a
door lock box so medical personnel can gain access to the user's
home in the event of an emergency.
Mr. Adams continued, "The personal medical alarm marketplace is
very large and is expected to grow significantly over the coming
years as the population ages. We have a unique product and
our pricing is on target for the marketplace, and as a result, we
believe that for the first time in our corporate history we are now
beginning to take market share away from our competitors. We expect
this trend to continue as we move into sustained monthly
profitability."
Additional information on the MediPendant™ can be viewed at
www.MediPendant.com.
About MDHI
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.
Contact:
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113
SOURCE Medical Alarm Concepts Holding, Inc.