KING OF PRUSSIA, PA / ACCESSWIRE / October 8, 2014 / Medical Alarm Concepts Holding, Inc. (OTC Pink: MDHI) (PINKSHEETS: MDHI) (MDHI) (the "Company"), creator of the patented MediPendant(R) personal medical alarm device that provides users with a reliable and innovative way to communicate with emergency personnel and loved ones whenever medical assistance is needed, today announced the release of its March 31, 2014 10-Q filing to the SEC, as well as updating shareholders detailing the company’s continued growth and improvement in gross margins, revenues, and the exploration of potential acquisitions.
The latest March 31, 2014 10-Q filing by Medical Alarm Concepts Holding, Inc. is an important step in keeping shareholders abreast of ongoing developments inside the company. Gross profit margins have improved from 41% in quarter’s end on March 31, 2013 to 79% in quarter’s end on March 31, 2014. Gross profit for quarter’s end on March 31, 2014 increased to $194,958 from the year earlier at $74,061. Revenues for the three months ended March 31, 2014 were $246,903, an increase of 38% over the $179,110 recorded for the corresponding period in 2013.
Nine-month figures also show year over year improvement with Medical Alarm Concepts Holding, Inc. reporting revenues of $768,494 for the nine months ended March 31, 2014 or a 65% improvement over the $464,475 recorded for the corresponding period ended March 31, 2013. The Company believes this change in business direction will lead to stronger growth margins and higher overall sales during future periods.
"We are delighted with the progress made in the last year by Medical Alarm Concepts Holding, Inc. Our flagship and patent-protected MediPendant(R) medical alarm has been a huge factor in lifting revenues in the short-term, and providing us with incredible competitive and sales advantages over the long term," said company CEO, Ronnie Adams. "Our continued improvement remains a key focus, and we are developing strategies that will enable us to expand our existing base of distribution channels, as well as leverage our international partnerships to increase the MediPendant’s(R) market penetration."
Medical Alarm Concepts Holding, Inc. continues to work on bringing its filings up-to-date and is currently working on an audited 10-K for year ended June 30, 2014. In addition to ensuring that the company is current with all SEC filings, Medical Alarm Concepts Holding, Inc. is also looking at synergistic opportunities for expansion through acquisition by diversifying the company's business model to take advantage of untapped opportunities.
Figures from the Congressional Budget Office (CBO) highlight the demand and subsequent opportunities that will develop over the next few decades. According to the CBO, "by 2050, one-fifth of the total U.S. population will be elderly (that is, 65 or older), up from 12 percent in 2000 and 8 percent in 1950. The number of people age 85 or older will grow the fastest over the next few decades, constituting 4 percent of the population by 2050, or 10 times its share in 1950."
"Medical alert monitoring is just one potentially lucrative aspect of the market occupied by aging people globally. We believe that by creating key synergies, we can expand the range of products and offerings currently deployed by the company," said Mr. Adams. "We are currently in negotiations with several target acquisitions and will update shareholders as progress is made."
About Medical Alarm Concepts Holding, Inc.
Medical Alarm Concepts Holdings, Inc., a publicly traded company under the symbol MDHI, is the creator of the MediPendant(R), a patented two-way and three-way voice technology, for the personal medical alarm marketplace. The MediPendant(R) has been featured in nationally renowned retailer Costco Wholesale Corporation since 2011 and has received 28 product reviews on the retailer's website, 21 of which are "5 out of 5 Star" ratings. The average rating is "4.5 Stars" out of 5 Stars.
For more information, please visit our website at http://www.medipendant.com/.
Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
CONTACT
Medical Alarm Concepts Holding, Inc.
877-639-2929 ext. 113
SOURCE: Medical Alarm Concepts Holding, Inc.