WESTBURY, N.Y., March 17, 2014 /PRNewswire/ -- Vasomedical,
Inc. ("Vasomedical") (OTC BB: VASO), a diversified medical
technology company specializing in the design, manufacture and sale
of medical devices, including EECP® Therapy systems,
the gold standard of ECP therapy, today announced that its wholly
owned subsidiary Biox Instruments Co. Ltd., based in Wuxi,
China, has received approval from
the Chinese Food and Drug Administration (CFDA) to begin marketing
its new MobiCare Wireless Patient Monitors in China.
MobiCare Wireless Patient Monitor is a vital signs monitoring
system that acquires and displays multiple physiological signals,
including electrocardiogram (ECG), blood pressure, respiration,
peripheral capillary oxygen saturation (SpO2), body
temperature, as well as provides real-time detection and alerts for
certain abnormalities in these vital signs. Unlike
traditional bedside patient monitoring systems, the MobiCare system
transmits patient signals wirelessly to a touch-screen tablet
receiver or a bedside monitor. The MobiCare system's wireless
connectivity untethers patients from the bedside monitor allowing
them movement within a certain range. The Biox MobiCare
system will first be sold to hospitals in China as a new type of bedside patient
monitor, in order to cultivate acceptance of the technology and set
the stage for future introduction into the fast growing global home
care market.
"Our MobiCare system is a breakthrough into the relatively
mature but still growing market of vital sign monitoring devices.
More importantly, with its current configuration and planned
future derivatives, the MobiCare system provides a natural bridge
to telemedicine and home care systems, putting us in a strong
position in these healthcare markets of the future," commented Dr.
Jun Ma, President and CEO of
Vasomedical. "This innovative device is another example of
making good on our promise to deliver advanced quality products at
affordable prices so that patients all over the world may benefit
as we continue to build shareholder value in our company."
The MobiCare prototypes were first exhibited in November 2013 at CMEF Autumn 2013 in Xiamen, China and at MEDICA 2013 in
Dusseldorf, Germany, and then at
Arab Health 2014 in Dubai, UAE in
January 2014. Based on the positive feedback from attendees
at these events, the Company is preparing applications for CE
marking and US FDA clearance.
About Vasomedical
Vasomedical, Inc. is a
diversified medical technology company specializing in the
manufacture and sale of medical devices and in the domestic sale of
diagnostic imaging products. The Company's main proprietary
products are EECP® Therapy systems, the
gold standard of ECP treatment. The Company operates through
three wholly owned subsidiaries: Vasomedical Solutions, Vasomedical
Global and VasoHealthcare. Vasomedical Solutions manages and
coordinates the design, manufacture and sales of EECP®
Therapy systems, and other medical equipment operations;
Vasomedical Global operates the Company's China-based subsidiaries; and VasoHealthcare
is the operating subsidiary for the exclusive sales representation
of GE Healthcare diagnostic imaging products in certain market
segments. Additional information is available on the Company's
website at www.vasomedical.com.
About Biox Instruments
Biox Instruments Co., Ltd.,
a wholly owned subsidiary of Vasomedical, is based in Wuxi,
Jiangsu Province, China. With long established
expertise in miniaturization and low power consumption medical
devices, it is a leading company in ambulatory monitoring
systems consisting of ECG Holter recorders, ambulatory blood
pressure monitoring (ABPM) systems as well as related analysis and
reporting software. Biox is in full compliance of revered quality
and manufacturing standards such as ISO 13485, ISO 9001, US FDA
cGMP as well as the Medical Device Directive of the European Union.
Biox products are FDA Cleared, CE Marked and Health Canada Listed.
Furthermore, Biox continues to provide OEM and OED services to many
businesses that require effective solutions to product design and
performance. Additional information is available on the Company's
website at www.biox.com.cn.
Except for historical information contained in this release,
the matters discussed are forward-looking statements that involve
risks and uncertainties. When used in this release, words such as
"anticipates", "believes", "could", "estimates", "expects", "may",
"plans", "potential" and "intends" and similar expressions, as they
relate to the Company or its management, identify forward-looking
statements. Such forward-looking statements are based on the
beliefs of the Company's management, as well as assumptions made by
and information currently available to the Company's management.
Among the factors that could cause actual results to differ
materially are the following: the effect of business and economic
conditions; the effect of the dramatic changes taking place in the
healthcare environment; the impact of competitive procedures and
products and their pricing; medical insurance reimbursement
policies; unexpected manufacturing or supplier problems; unforeseen
difficulties and delays in the conduct of clinical trials and other
product development programs; the actions of regulatory authorities
and third-party payers in the United
States and overseas; uncertainties about the acceptance of a
novel therapeutic modality by the medical community; continuation
of the GEHC agreement; and the risk factors reported from time to
time in the Company's SEC reports. The Company undertakes no
obligation to update forward-looking statements as a result of
future events or developments.
Investor Contacts:
Todd Fromer / Garth Russell
KCSA Strategic Communications
212-896-1215 / 212-896-1250
tfromer@kcsa.com / grussell@kcsa.com
Media Contacts:
Samantha Wolf / Andrew Herweg
KCSA Strategic Communications
212-896-1220/212-896-1273
swolf@kcsa.com / aherweg@kcsa.com
SOURCE Vasomedical, Inc.