SOURCE: iNeedMD Holdings, Inc.

July 21, 2015 12:46 ET

iNeedMD Signs $3.75 million Middle East Distribution Agreement

NEW YORK, NY--(Marketwired - Jul 21, 2015) -  iNeedMD Holdings, Inc. (OTC PINK: NEMD) ("iNeedMD" or the "Company") a medical diagnostic device development company, is proud to announce the signing of an international distribution agreement (the "Agreement") with Dubai-based Core Green General Trading Company, LLC ("Core Green"), a distribution, sales and marketing company focused on niche technology products. Core Green has a stronghold in the Middle East and will represent iNeedMD's disposable, pre-positioned electrocardiogram (EKG/ECG) lead set, The EKG Glove™, and related products in the United Arab Emirates, Oman, Qatar, Iraq, Jordan, Lebanon, and Egypt. The initial term of the Agreement spans 24 months, with guaranteed minimum product purchases totaling $3.75 million.

The EKG Glove™ integrates a standardized system of electrodes and lead wire circuitry into a one-piece, glove-like sheath that can be easily positioned on an individual's chest to acquire a 12-lead, diagnostic electrocardiogram ("EKG"). An EKG is a mainstay of universal cardiac care as it assesses the electrical activity of an individual's heart and is integral to the diagnosis or rule-out of serious cardiac events or chronic conditions. The EKG Glove™ has a peel-and-stick format and can be deployed in less than 60 seconds. Given its time-efficiency, The EKG Glove™ is a useful tool in triage applications including pre-hospital and emergency medical situations. The EKG Glove™ is a flexible medical device as a single cable connects it with a variety of traditional office- or hospital-based EKG machines or more portable Bluetooth-enabled EKG devices. 

Binu Tom Jacob, Managing Director of Core Green commented, "We are excited to integrate The EKG Glove™ into our Virtual Health Care business unit. Computerized vans equipped with state-of-the-art digital diagnostic tools are the backbone of our emergency medical and onsite healthcare offerings. Until now, EKG acquisition was falling short of our expectations with respect to ease-of-use and time-to-result for cardiac screenings. With the addition of The EKG Glove™ paired with a wireless and portable EKG device we are confident that we will provide our customers with an improved diagnostic EKG solution that ultimately improves patient care." 

iNeedMD's President and CEO, Thomas Nicolette added, "The addition of The EKG Glove™ to Core Green's progressive and portable healthcare delivery platform further validates the need to bring innovation and standardization to cardiac care, especially in growth-oriented regions of the world, like the Middle East. We are excited to be partnering with Binu and his team and appreciate Core Green's tangible commitment to marketing The EKG Glove™ and related products to their tech-savvy and demanding customer base."

About iNeedMD Holdings, Inc.
iNeedMD Holdings, Inc., headquartered in New York City, develops and markets medical device solutions that enable individuals and their healthcare partners to easily acquire, store and export health- and wellness-related data in convenient, portable platforms. Please visit www.ineedmd.com for additional information.

Forward Looking Statements
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