Essex Angel Capital Inc.

Essex Angel Capital Inc.

February 01, 2012 14:46 ET

Essex Angel Capital Inc. Announces: Wellness Indicators, Inc. Reaches Milestone With Electronic Reader for Health Equater™ Assessment Profile Test

WINDSOR, ONTARIO--(Marketwire - Feb. 1, 2012) - Essex Angel Capital Inc. (TSX VENTURE:EXC) (the "Corporation" or "Essex") is pleased to announce that Wellness Indicators, Inc. ("Wellness Indicators"), one of the companies in the Essex portfolio, has passed a significant milestone in producing the second generation of its proprietary electronic reader for its new wellness assessment test. The reader will be used in upcoming field trials for Wellness Indicators' Health Equater™ Assessment Profile, a unique inexpensive urine test that screens for a number of biomarkers. The company has field trial commitment letters from eight organizations, representing over 1,000,000 potential users, of whom 2,000 will be participating in field trials in the first quarter of 2012.

The reader for the Health Equater Assessment Profile is the culmination of research and development following field trials in July, 2011, and has been successfully bench-tested with more than 1,000 samples.

The Health Equater Assessment Profile is a first-to-market test screening for such biomarkers as oxidative stress, low-grade inflammation and total antioxidant capacity, which indicate levels of wellness. Thousands of studies have shown that the biomarkers detected by the assessment profile are leading indicators for a variety of future health risks, including stroke, cancer, heart disease, and diabetes. The value of the Health Equater Assessment Profile is that it is non-invasive, results are ready in five minutes and it gives an indication at the individual level of how a person is functioning metabolically before the onset of chronic disease, when intervention is less expensive and more effective. Results are available in approximately five minutes, instead of the week that traditional lab tests require. Other advantages include ease of use, portability, and low cost, being approximately $30 per test, rather than around $100 for most current diagnostic tests.

"We are confident that the Health Equater Assessment Profile is well on its way to a successful launch to the commercial market in the next few months," said Frank Lyman, President and CEO of Wellness Indicators. He also noted that, "Because it is an early indicator of increased risk for a range of chronic diseases, the Health Equater Assessment Profile is useful as an early guide to help people decide to change unhealthy behaviors. It also provides insurers, employers, and healthcare providers with timely information to intervene with wellness programs, fitness regimes, or other preventive measures."

Wellness Indicators, based in Wauconda, Illinois, plans to market the Health Equater Assessment Profile to insurance companies, large employers, and organized labor unions, representing millions of potential clients, to use as a precursor to expensive clinical diagnostic tests.

"We are excited that Wellness Indicator is looking to deliver to the health-care industry a new low-cost option for wellness screening," reported Rick Galdi, President and CEO of Essex. "The use of this test creates a win-win by offering important information to individuals and their insurers about their health status while potentially removing significant costs from the healthcare system."

This press release contains certain forward-looking statements about the future plans and intentions of companies in the Corporation's portfolio. Wherever possible, words such as "may," "will," "should," "could," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," or "potential," or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect Management's current beliefs and are based on information currently available to Management as at the date hereof. Forward-looking statements included or incorporated by reference in this press release include statements with respect to completion of Wellness Indicators' field trials in the first quarter of 2012, successful commercial launch of the Health Equator Assessment Profile in the next few months, and the future business activity of Wellness Indicators.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

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