Toronto, Ontario--(Newsfile Corp. - November 17, 2016) - CardioComm Solutions, Inc. (TSXV: EKG) ("CardioComm" or the "Company"), a global medical provider of consumer heart monitoring and medical electrocardiogram ("ECG") software solutions, today announced the appointment of Ms. Margaret (Meg) Helms as the newest member of the Company's Board of Directors ("BOD").
Ms. Helms is a veteran mergers and acquisitions ("M&A") professional with over 25 years of executive level experience in business transactions. These include publicly traded and privately held acquisitions, divestitures, equity investments and IP licensing, as well as distribution, supply and co-promotion agreements. Her deals have spanned the globe, including China, Israel, Mexico and the EU. Meg's extensive track record of completed global transactions includes medical devices, pharmaceuticals, biologics and health information technologies.
As the President and Founder of Morgan Wallace Associates, a global strategic healthcare M&A consulting firm focused on small to mid-cap companies, Ms. Helms works with private equity firms, medical start-up companies and medical device inventors who are seeking licensees and/or strategic partners. Prior to Morgan Wallace Associates, Meg spent 31 years with Johnson & Johnson ("J&"J). During this time, she was responsible for new business development, closing dozens of M&A transactions and contributing to a cumulative Business Unit revenue growth of over $500 million. She is particularly skilled at handling complex global acquisitions, most recently in Israel and China.
Ms. Helms holds an MBA from Washington University — St. Louis, and a BA from Rutgers University (Douglas College), New Brunswick, NJ. She is a member of the professional Licensing Executives Society (LES), the Healthcare Businesswomen's Association (HBA), and the Women's Business Leaders in Healthcare (WBL). Meg is also very active in community service and not-for-profit organizations.
Ms. Helms' addition to the BOD was accomplished by a voluntary change in roles. Ms. Helms takes the board seat that was intended for Dr. David Armstrong, who will remain active as a member of the Company's Advisory Board, and focus on identifying global investors for CardioComm.
Ms. Helms' addition to the BOD caps a busy Q3 at the executive management and board levels, which included the addition of Dr. David Armstrong and Dr. Robin Black to the Advisory Board, the selection of John Overall to the position of CFO, and the appointment of Robert Caines, Founding Partner of Paley Advisors, to the position of Chairman of the Board.
These executive and board-level changes have occurred as the Company's fiscal performance has significantly improved. As stated in the Company's Q3 Management's Discussion and Analysis (MD&A), published this week on SEDAR, CardioComm is reporting a profitable Q3. The Company's immediate priority is the retirement of its current line of credit, due at the end of December 2016. The Company has entered into financing discussions with several investors, seeking to retire the line of credit through new debt placement or a combination of a debt facility and equity.
In tandem with its efforts to retire the current line of credit, the BOD continues to focus on sourcing long-term financing for closing potential bolt-on acquisitions and closing several joint venture deals in 2017 that will expand operational capacities and stimulate sales of the Company's Global ECG Management Software (GEMS™ WIN), handheld HeartCheck™ ECG devices and SMART Monitoring ECG services.
To learn more about CardioComm Solutions please see the Company's websites www.theheartcheck.com and www.cardiocommsolutions.com or contact the Company at sales@cardiocommsolutions.com.
About CardioComm Solutions
CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms (ECGs) for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. The Company has earned the ISO 13485 certification, is HPB approved, HIPAA compliant, and has received FDA market clearance for its software devices. CardioComm Solutions is headquartered in Toronto, Ontario, Canada.
FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x 227
investor.relations@cardiocommsolutions.com
www.cardiocommsolutions.com
Forward-looking statements
This release may contain certain forward-looking statements and forward looking information with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. Such statements and information reflect management's current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forward-looking information.
In evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release other than as required by applicable laws, including without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).
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.
