/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE
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
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).
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Biosign Technologies Inc.
For further information:
Biosign Contact Information
Chief Executive Officer
Phone: (416) 218-9800 ext. 201