SOURCE: Connectyx Technologies Holdings, Inc.

April 02, 2012 09:15 ET

Connectyx Technologies Files Financial Results for Fiscal Year 2011 Reflecting 20% Increase in Revenues With 57% Reduction in Operating Expenses

STUART, FL--(Marketwire - Apr 2, 2012) - Connectyx Technologies Holdings Group, Inc. (PINKSHEETS: CTYX) ("Connectyx"), www.connectyx.com, manufacturer and distributor of the MedFlash®, a Personal Health and Wellness Management System (ePHM) designed for maintaining personal health records (ePHR), filed its financial results for their Fiscal Year End of December 31, 2011 showing a revenue increase of 20% to $159,818 compared to 2010 revenues of $128,392.

The Company's operating expense reduction initiative has further trimmed costs by 57% from $1,128,035 in 2010 to $645,197 in 2011 through project outsourcing and the continuing shift to building an affiliate network of partners marketing MedFlash to their large membership databases. With an affiliate network now numbering over 70 partners, the awareness of the availability of MedFlash continues to increase, which is reflected in the increase in revenue and the ongoing growth in marketing partners.

In accordance with OTC guidelines, the Company has posted its financial statements and can be accessed at http://www.otcmarkets.com/stock/CTYX/financials.

Ronn Schuman, President & CEO of Connectyx Technologies, said, "Connectyx continued to increase revenues in 2011 from MedFlash despite our dramatic drop in operating expenses. And by lowering our costs, our threshold to reach profitability has been lowered significantly."

Mr. Schuman noted, "What we are seeing in the marketplace is that as we continue to add valuable benefits for our MedFlash members, we see not only more interest in MedFlash from new members, but also from new marketing partners. For example, we recently added a very attractive prescription plan offering discounts up to 85% through IRTRx, Inc. with no co-pays nor deductibles. Whether someone has a generous insurance plan or not, having the option to 'shop' for the best price for a particular prescription drug is a real benefit for everyone. Our marketing partners, both current and future partners, realize this and new members are making the decision to subscribe to the MedFlash health and wellness community."

Mr. Schuman continued, "Management is very encouraged by a number of negotiations we are in that have the potential to dramatically expand our marketing network in our targeted demographic markets. Although it is difficult to assess the success or timing, we feel confident that these negotiations are going well."

A popular MedFlash benefit is the availability to have a telephonic consultation with registered nurses on a 24/7 basis with FONEMED, Inc. at no additional cost. Oftentimes, the difference between a visit to an emergency room in the middle of the night (with the high out-of-pocket costs), or trying to speak with your doctor during office hours is critical. Our MedFlash program affordably delivers peace of mind with 365/24/7 access to a medical professional who can view the caller's/MedFlash subscriber's personal medical records and at the same time ask and answer medical questions. Many MedFlash subscribers have said that this benefit alone is worth the modest annual cost of $19.95.

Connectyx recently announced that the company is leveraging its past development costs on MedFlash with the future introduction of a veterinary records application to be known as MyPetsPHR. Similar to MedFlash, the MyPetsPHR.com will offer a secure web portal suite for a pet's medical information (vaccination and shots history) in addition to a USB flash drive and smartphone applications with Scan code capability. The MyPetsPHR will include all the pet owner's contact information should the pet become lost (not with the space limitations associated with the traditional dog and cat tags) so there is no delay in informing the pet owner that their animal family member has been found. MyPetsPHR will also include pet benefits such as pet insurance, access to pet-friendly hotels, dog parks, pet product discounts and so on. This new application lends itself to a whole new affiliate network of marketing partners with a focus on pets.

In conclusion, Mr. Schuman said, "Management is confident that as we develop our networks and new products that revenue growth will continue to gain momentum for MedFlash and eventually MyPetsPHR.

To be added to the corporate e-mail database for corporate press releases and industry updates, investors and shareholders are requested to send an e-mail to investorrelations@connectyx.com

About Connectyx Technologies

Connectyx Technologies provides unique products for the healthcare market including MedFlash®, the electronic Personal Health Manager (ePHM). The MedFlash® PHM is an easy to use Personal Health and Lifestyle Manager that is accessible using a powerful web portal suite. The MedFlash® PHM also features a 24/7/365 call center, a USB flash drive and our smartphone applications with Scan code capability. The MedFlash® PHM provides member benefits including instant access to your Emergency Medical Profile and Personal Health Record in the event of an accident or a medical emergency. Whether traveling, at work, or at home, First Responders have an invaluable advantage when they have access to this time critical information. Far more than just an emergency flash drive, the MedFlash® PHM can be accessed on any computer, securely and with complete privacy. There are also lifestyle and wellness features that provide significant health benefits to members and risk mitigation for employers and insurers alike. Connectyx products are developed with the needs of patients, families, doctors and First Responders in mind. For more information, please visit our websites at: www.connectyx.com, www.phrtoday.com and www.medflash.com.

Safe Harbor Act: This communication includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this communication.

Contact Information

  • Contact:

    Connectyx Technologies
    Investor Relations
    772-600-2581