CardioComm Solutions, Inc.
TSX VENTURE : EKG

CardioComm Solutions, Inc.

February 10, 2012 13:10 ET

CardioComm Solutions and Philips Enters into a Five-Year Renewable Software Development and License Agreement for ECG Management Services

TORONTO, ONTARIO--(Marketwire - Feb. 10, 2012) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) has entered into a five year renewable Software License and Services Agreement with Royal Philips Electronics in which CardioComm Solutions will integrate their proprietary GEMS™ (Global ECG Management System) software into Philips' ECG management services.

"We have spent the past three years compiling solutions to enable the integration of multiple FDA, Health Canada and CE cleared/approved ECG recording and transmitting devices with GEMS™. Through experience with working with clients such as Philips, CardioComm Solutions is able to provide innovations that support the business and medical care challenges associated with the growing ECG monitoring markets," said Etienne Grima, CardioComm Solution's CEO. "This agreement demonstrates our ongoing commitment to developing solutions to serve these markets."

The agreement also extends licensing for a remote cardiac monitoring CardioComm Solutions ECG SDK viewer license, under which CardioComm Solutions' ECG SDK software is being utilized.

Royal Philips Electronics of the Netherlands is a diversified health and well-being company, focused on improving people's lives through timely innovations.

About CardioComm Solutions, Inc.

CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms (ECGs) for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. The company has earned the ISO 13485 certification, is HPB approved, HIPAA compliant, and has received FDA market clearance for its software devices. CardioComm Solutions, Inc. is headquartered in Toronto, Canada, with offices in Victoria, B.C.

Forward-looking statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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