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Medical Alarm Concepts Investor Update - New Sales Strategy Shows Strong Results(March 07, 2011)
PLYMOUTH MEETING, Pa., March 7, 2011 (GLOBE NEWSWIRE) -- Medical Alarm Concepts Holding, Inc. (OTCBB:MDHI) is the manufacturer of the MediPendant™, the first fully-monitored medical alarm system that allows you to speak and listen directly through the pendant. Following below is a strategic update from Medical Alarm Concepts CEO, Howard Teicher.
"Over the past few months, we have been working hard to gain market share and create product awareness. We have also spent a considerable amount of time fine-tuning our sales and marketing strategy to meet the needs of our customers and increase our revenues. I am very happy to report that we are finally seeing strong results from our efforts. Sales are now generated from a combination of word-of-mouth advertising, a growing positive reputation in the marketplace, as well as several of the marketing strategies and strategic partnerships we have developed and nurtured over the past year and a half.
A substantial customer base is also being generated from our MediPendant™ television commercial. During initial testing of the commercial we, along with our media partners, quickly determined the importance of utilizing a highly trained sales staff, since this is a relatively complex sale, and involves a depth of product knowledge and understanding of the medical alarm industry. In response to this, an internal 'call-center' was created to handle both sales and customer service geared specifically for this media campaign. The results have exceeded expectations. Sales conversion rates have nearly tripled, and the number of orders continue to rise. In addition, by offering customers a real value for pre-paying for their service, the sales team has been successful in persuading customers to pay for a full year of service up front, as opposed to the monthly billing option. Currently, over 50% of our customers are electing the single pay option, which has greatly improved our working capital. In the coming weeks, media advertising will significantly increase, which should translate into a continuation of our accelerating recurring revenue stream, as well as a significant increase in hardware sales. Between our media partners and our national retail initiatives, we are very confident that we have now have established a solid business model for success.
As you know, the MediPendant™ personal medical alarm solution offers significant advantages to consumers, since we are the original monitored personal medical alarm on the market that allows full speak and listen capabilities directly through the pendant. We have a strong intellectual property position on this sophisticated technology, and continue to increase our IP portfolio. Two new versions of the product are in the testing phase, and will be unveiled as early as the first week of April 2011. This market category generates tens of millions of dollars a month in sales, and we believe that our superior product and updated technology, along with a newly refined sales and marketing plan, puts us way ahead of the competition. We are extremely pleased with the rejuvenation of our sales and marketing efforts."
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. ("MAC") develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. We have built our reputation in the personal emergency response system (PERS) and medical alert industry. With patented technology and state-of-the-art services, MAC is uniquely positioned to mobilize the right people, skills and alliances to ensure success and client satisfaction. Our design and support philosophy emphasizes industry best practices, while providing polished and savvy solutions. MAC's latest innovation is the development of its two-way voice speakerphone pendant technology. For more information, please visit our website at http://www.medicalalarmconcepts.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.
Tel: (925) 247-6666
Related Keywords: MEDICAL, HEALTHMac, OS9, OSX, Inc., Television, Business, Other,