KING OF PRUSSIA, Penn.,
May 18, 2015 /PRNewswire/
-- Medical Alarm Concepts Holding, Inc. (OTC: MDHI), provides
information about the ongoing contract with Coventry, an Aetna
Healthcare Company.
Aetna, Inc. is an American managed health care company which
sells traditional and consumer directed health care insurance plans
and related services, such as medical, pharmaceutical, dental,
behavioral health, long-term care, and disability plans. Under the
terms of the agreement, the diversified national insurer will
continue to offer the Company's MediPendant® product and monthly
monitoring services to subscribers of selected healthcare programs.
Additionally, the Company's medical alarm products have been, and
will continue to be, included in their Medicare and/or Medicaid
related contracts on which they may bid.
The original contract was signed in March
2013. Ronnie Adams, President
of MDHI commented, "We are very pleased that this contract with
Aetna Healthcare is still in place. We value our strategic
alliances and are proud to be a part of this company's product
offering."
The market for these types of products and services continues to
grow at impressive rates. According to the CBO (Congressional
Budget Office), "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."
MDHI continues to look at synergistic opportunities for
expansion through acquisition by diversifying the company's
business model to take advantage of untapped opportunities. The
Company is also developing new programs and products for the
mHealth (mobile health) and telehealth industry, which they plan to
launch sometime this year.
For additional information about MDHI's groundbreaking products
and services, and to receive our exclusive Investor Alerts, please
visit us at www.MedicalAlarmConcepts.com.
About Medical Alarm Concepts (MDHI)
Medical Alarm Concepts Holding, Inc., publicly traded under the
symbol MDHI, is the creator of the MediPendant® and the
iHelp™ patented personal medical alarm devices for both the
national and international market. Our products have been featured
by nationally renowned retailer's such as Costco Wholesale
Corporation and Amazon since 2011. The MediPendant® boasts a
product rating of "4.5 out of 5 Stars" with Costco's customers, and
is currently in use by thousands of satisfied customers.
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
Allen Polsky
877-639-2929 Ext. 113
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SOURCE Medical Alarm Concepts Holding, Inc.