NEW YORK-(GLOBE NEWSWIRE – March 22, 2016)—iNeedMD Holdings, Inc. (OTCQB: NEMD) (“iNeedMD” or the “Company”) a medical device developer, is pleased to announce the Company’s strategic acquisition of Mediplex Alliances Inc., a Delaware corporation (“Mediplex”) and the appointment of Jonathan Loutzenhiser as President of iNeedMD. The appointment of Mr. Loutzenhiser will be effective by April 15, 2016. The acquisition of Mediplex and the appointment of Mr. Loutzenhiser will provide iNeedMD with access to a US distribution network that includes Accountable Care and Management Services Organizations (ACOs and MSOs), fifteen distributor groups and over 10,000 independent healthcare professionals. The share-based consideration for the Company’s purchase of Mediplex is subject to and predicated on Mediplex’s achievement of certain revenue milestones over a three-year period.
Mediplex, a Dallas based medical device master distributor under the direction of Mr. Loutzenhiser, who will continue serving as its President, has focused its efforts on providing various US healthcare organizations with time and cost efficient medical devices that help improve patient outcomes while enhancing the management of medical practices. Mediplex’s most recent endeavors center on proactive cardiac assessment, specifically through the use of an FDA-Cleared Photoplethysmography (PPG) device called The Max Pulse which helps estimate skin blood flow using an infrared light sensor positioned on an adult’s fingertip, along with interpretive software. This non-invasive and convenient analytical tool can aid in the determination of early warning signs of peripheral vascular and cardiovascular diseases in approximately five minutes.
With an electrocardiograph (“ECG” or “EKG”) being a mainstay of universal cardiac care, we believe there is a synergistic relationship and compelling business case for marketing The EKG Glove™, iNeedMD’s FDA-cleared and CE-marked disposable medical device, in tandem with The Max Pulse in the US. As iNeedMD’s Chief Executive Officer Thomas A. Nicolette explains, “The Max Pulse analysis and the physician’s overall evaluation of the patient may indicate the need for an EKG during the office visit to complete the cardiac assessment. The EKG Glove™ has a peel-and-stick format and integrates pre-positioned electrodes and printed circuitry into a single, glove-like sheath. The EKG Glove™ can be deployed on a patient’s chest in approximately thirty seconds, with complete acquisition of the EKG often completed in under two minutes. This condensed timeline allows a healthcare professional to transition the patient from The Max Pulse analysis to a diagnostic EKG with accuracy and ease.”
Mr. Nicolette also noted, “The Company is excited to welcome Jonathan Loutzenhiser as President of iNeedMD, to the Company’s team. Mr. Loutzenhiser’s laser-focused dedication to building a comprehensive national network of medical device distributors will allow the Company to gain access to US clients that have already embraced the benefits of time and cost efficient medical device technologies. As a board member of Premier Healthcare Network, an Atlanta-based ACO, and professional relationships with a variety of MSOs and Independent Physician Associations (IPAs), Mr. Loutzenhiser also brings vast knowledge related to practice management issues that are at the crux of the ever-evolving US healthcare system. We are facilitating the immediate launch of the iNeedMD-Mediplex partnership and are thrilled to expand our sales distribution network to now include North America. In the coming months, we look forward to providing updates on our progress in penetrating the US and international medical device markets.”
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.
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