TORONTO, ONTARIO--(Marketwire - April 4, 2012) - EasyMed Services Inc. (CNSX:EZM)(OTCBB:EMYSF)(MUN:EY6) ("ESI") would like to add further pertinent background details of its intended partner Biosign Technologies Inc. (TSX VENTURE:BIO) ("Biosign") for our investors. Due to some diffusion issues, a background to Biosign in our announcement dated April 2nd was not relayed.
We were pleased to announce on April 2nd that ESI have entered into a letter of intent dated April 1, 2012 (the "Letter of Intent") with Biosign Technologies Inc. (TSX VENTURE:BIO) ("Biosign") to complete a business combination (the "Transaction"). BIO, a public company with headquarters in Toronto, Canada, provides biomedical systems. Key applications include intelligent systems for non-invasive monitoring of common health risks associated with blood pressure, glucose, and medication. The core technology combines measurement, analysis, and rapid knowledge formation to support health monitoring across global markets. Upon completion of the Transaction, it is intended that the combined entity will continue to carry on the business of ESI and will be listed on the TSX-V.
For full information on the proposed transaction between ESI and Biosign please refer to the press release dated on April 2nd 2012.
We outline for our investors a description of Biosign to allow them to fully understand Biosign's extremely compatible resources with ESI going forward.
Information Concerning Biosign. Biosign Technologies Inc. is a public company traded on the TSX - Venture Exchange ("TSX-V") under the symbol BIO and was formed via an amalgamation under the Business Corporations Act (Ontario) on July 14, 2006. The predecessor operating company was Biosign Technologies Inc. which was incorporated under the Business Corporations Act (Ontario) on March 11, 2004.
Biosign is an ISO 13485 Certified Medical Device company that has invested in excess of $15million to develop technologies, products and initiatives to address critical problems in global health care. Biosign is committed to becoming the "world's health monitor" with a robust, integrated and portable system that provides valuable information to stakeholders. Biosign's breakthrough technology and continued innovation serve the Company's mission to make health care safe, simple, and sensible.
Biosign provides an end-to-end solution for non-invasive monitoring, analysis and reporting of health data critical to the management of cardiovascular conditions through their proprietary platform "UFIT". The UFIT(R) cuff painlessly captures the pulse waveform from the patient's pulse and transmits it to the cloud through a computer. Biosign proprietary algorithms analyze the data in seconds to report blood pressure and other cardiovascular measurements. Biosign's analysis and reporting tools give patients and their healthcare team secure access to real-time and longitudinal health information for treatment planning, evaluation, and management.
In October 2010 Biosign acquired Healthanywhere(TM) ("HA") for consideration of approximately $3,400,000. The HA intellectual property includes a 510k clearance from the U.S. Food and Drug Administration for the HA solution as a Class II medical device. HA provides software solutions addressing the continuum of care from wellness promotion and self-managed care to chronic disease management.
ESI Chief Executive Officer Andrew Ritchie commented: "We want to inform our shareholders and the broader investment community of the great rationale for the proposed merger between these two companies. After having executed the Joint-Venture agreement with Biosign earlier this year it became evident that a merger was the right way forward to maximize both companies' unique technical and human resources in the domain of telemedicine."
About EasyMed Services Inc.
EasyMed Services, Inc. (CNSX:EZM)(OTCBB:EMYSF)(MUN:EY6) 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. We are committed to world-class customer service and the protection of our clients' information.
For more information, visit www.easymedservices.com.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. These forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.