MediSwipe Inc. and 800 Commerce Inc. Subsidiary Announce Binding Agreement to Acquire Telemedicine and Online Healthcare Plat...
May 24 2012 - 9:17AM
MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP), a merchant payment
solutions and financial products company for the medical health
care industry, today announced that the Company has signed a
binding agreement to acquire all the assets and outstanding common
stock of a unique telemedicine and online healthcare platform
portal SweetMD.com (www.SweetMD.com). The transaction is expected
to be completed within the next 30 days subject to the customary
legal and closing conditions.
"I am very pleased to announce the acquisition of SweetMD.com
and its management team by MediSwipe Inc. We truly believe that
this online healthcare platform represents the ideal and affordable
model of healthcare for the 21st century. Services include
telemedicine, allowing patients the opportunity to speak to
physicians via video online, discounts on office visits and name
brand prescriptions, as well as personal health records for family
members. SweetMD.com, adding new members every day, offers
healthcare services for $29 a patient each month or $299.00 for all
services annually," stated Michael Friedman CEO for MediSwipe
Inc.
"The signing of this agreement with SweetMD is a
transformational event, and will help us fulfill our commitment to
create shareholder value, while at the same time creating a truly
meaningful business model for both MediSwipe, while utilizing the
technology and SMS platform of our subsidiary 800 Commerce.
Although we had reached what we thought would be the completion of
our agreement with ReachMeDaily.com, the two parties could not come
to final terms on payment and equity within the definitive
agreement, due to several factors including our market share
price," further stated Friedman. "It was to our great fortune that
our President Erick Rodriguez was able to create the relationships
with some of the largest healthcare providers in the country and
satisfy a great need within our healthcare system through
SweetMD.com, allowing us to grow our company organically, without
the huge expense of cash and equity away from the Company,"
concluded Friedman.
"We are extremely excited about the opportunity to become a part
of MediSwipe and leverage the great technology that 800 Commerce
has developed," stated Erick Rodriguez, CEO of SweetMD and
MediSwipe President. "We believe that this will now allow both
SweetMD and MediSwipe to offer consumers a complete healthcare
solution utilizing our large network of providers and facilities
nationwide and our telemedicine platform to consumers and
businesses." Mr. Rodriguez added, "Our goal is to
deliver unique healthcare solutions to millions of Americans
at an affordable price, that will generate meaningful revenues and
create long term value for our shareholders."
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of
secure and reliable transaction processing and security solutions
for the medical and healthcare industries, using traditional,
Internet Point-of-Sale (POS), e-commerce and mobile (wireless)
payment solutions. The Company now also offers digitized personal
health records in conjunction with Industry Alliance Partners.
MediSwipe offers reliable merchant payment solutions and closed
loop pre-paid stored value and loyalty cards as a unique cash
alternative to these regulated and e-commerce businesses
specializing within the healthcare sector.
About SweetMD.com
SweetMD (www.SweetMD.com) has developed a program to bring
affordable healthcare services to individuals, families and small
businesses. Our Membership is a great alternative to costly health
insurance for businesses, uninsured and insured individuals and
families and provides great savings at thousands of providers
nationwide. The unique portal provides telemedicine services, video
doctor patient calls, personal health records (PHRs) and discount
medical programs for the uninsured and on name prescription
drugs.
About 800 Commerce Inc.
800 Commerce (www.800Commerce.com) provides white label mobile
and payment solutions for business designed to drive return on
investment for high-volume clients and/or customized branded
advertisers. Our platform and tools are designed to enable large
brands or anyone with substantial reach to utilize the mobile
device as a new means to communicate. Communication might be in the
form of an advertisement or offer, coupon or reminder message in
voice or Short Message Service (SMS). Regardless of the form, our
platform can drive value and cost savings for companies large and
small and the ability to drive contextually relevant advertising
messages to the right audience.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of MediSwipe Inc. to be
materially different from the statements made herein.
CONTACT: MediSwipe Inc.
Investor Relations:
615.252.4099
info@MediSwipe.com
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