SOURCE: AmbiCom Holdings

AmbiCom Holdings

June 24, 2010 07:00 ET

AmbiCom Announces Initial Purchase Order From Major Pharmaceutical and Medical Device Company

SAN JOSE, CA--(Marketwire - June 24, 2010) - AmbiCom Holdings, Inc., (OTCBB: ABHI), today announced it has received its initial purchase order worth US $250,000 under a four-year exclusive manufacturing agreement with a major pharmaceutical and medical device company to supply the WL54-CF Wi-Fi cards for this company's blood glucose meters. The meters are planned to be sold worldwide to hospitals, clinics and other health care facilities for clinicians, nurses and doctors to better monitor glucose levels in patients. 

"The potential growth of this business is quite impressive," said John Hwang, Chairman and CEO of AmbiCom. "This agreement could bring up to US $10 million or more to AmbiCom during the four year term of the agreement."

This blood glucose monitoring system is designed to introduce several technological innovations to help improve patient safety, care and access to data, and enhance system durability at the point of care. AmbiCom is also working with several other departments with this company to supply wireless technologies for future developments.

About AmbiCom
AmbiCom is headquartered in San Jose California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.

Forward-Looking Statements
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward- looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on January 15, 2010, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contact Information

  • Contact:
    Beverly Jedynak
    Martin E. Janis & Company, Inc.
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