Biosign announces combined $6.0 million software and service sale
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES/
TORONTO, Dec. 27, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) ("Biosign" or the "Company") is pleased to announce that it has sold a $3.0 million software license to a large, UK publicly-traded healthcare services company with significant operations in Europe, Asia and North America, along with a separate $3 million software services agreement.
The client will receive a perpetual, worldwide, fully paid-up license to the current versions of Biosign's software systems, including but not limited to: the Pulsewave® Client; the Pulsewave® websites; VIMIS (aka Cloud Diagnostics™) and the Healthanywhere™ platforms, along with our newly-acquired ClinicServer™ and QCARE™ solutions, all of which can be deployed within their worldwide operation. On closing, the client will pay a one-time license fee of CAD $3.0 million.
Additional services of Biosign such as implementation support and user training will be made available to the client in a separate fixed price $3.0 million services agreement. The client will pay a one-time services fee of CAD $3.0 million. Definitive agreements will be finalized by the end of calendar 2013.
Biosign CEO Robert Kaul commented: "This combined $6.0 million sale marks an important milestone for Biosign. During the past 15 months, the Company has executed a strategy to pivot from developing and distributing medical devices to one where we develop and deploy Healthcare IT solutions, primarily through our software and service offerings. The Company intends to continue its efforts to supply value to large enterprise clients through a unique combination of our proprietary Pulsewave products and our newly acquired, integrated software solutions."
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, software enabled health information solutions including the Pulsewave® Health Monitor and the Healthanywhere™ Patient monitoring / self-care platform. The Company's Pulsewave® Health Monitor solution enables pulse wave data collection for cardiovascular clinical decision support and self-care, while its Healthanywhere™ solution offers industry-leading remote patient monitoring and patient centred care management. The Company also offers a number of cardiovascular screening programs for consumers under its Heart Friendly™ brand, including Heart Friendly™ Practice, Heart Friendly™ Dentist, and Heart Friendly™ Fitness. For more information on Biosign, please visit www.biosign.com.
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and Biosign's actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in the company's filings with Canadian securities regulators (www.sedar.com).
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SOURCE Biosign Technologies Inc.For further information:
Biosign Contact Information
Chief Executive Officer
Phone: (416) 218-9800 ext. 201