Cardiocomm Solutions, Inc. Completes a Software and Source Code Licensing Agreement by MD Primer Inc
January 22, 2014 at 09:05 pm
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CardioComm Solutions Inc. announced that it has completed a software and source code licensing agreement for use of the company's proprietary Global ECG Management Solution and GUAVA ECG viewer by MD Primer Inc. As MDP is a related party of CardioComm Solutions, Dr. Langer abstained from voting on the SLA when it received board approval. The SLA is subject to approval by the TSX Venture Exchange. The SLA will allow MDP to use GEMSTM and GUAVA under a worldwide, royalty free, perpetual, non-exclusive license in exchange for a one-time $500,000 licensing fee, payable
in three payments: $250,000 on execution of the SLA; $150,000 on March 15, 2014; and $100,000 on April 15, 2014. Service and support agreements will be negotiated subsequent to the formal release of GEMS 4.0 to the market, which is expected prior to the end of first quarter of 2014.
CardioComm Solutions, Inc. is a Canada-based company, which develops software, hardware and core laboratory reading services related to electrocardiogram (ECG) and ambulatory arrhythmia monitoring systems for medical and consumer markets globally. The Company's specialization is in the software engineering of computer based (ECG) management and reporting software. The software permits physician interpretations of ECGs and supports private and public payer fee-for-service billings. The Companyâs device connectivity and ECG management technologies are used in medical, consumer, clinical research and telemedicine solutions for the recording, transmission, viewing, analyzing, reporting and storage of electrocardiograms, for arrhythmia screening, diagnosis, and management of cardiac patients. Its Global ECG Management Solutions (GEMS) and GlobalCardio (Cloud based GEMS) products are licensed worldwide to hospitals, ECG commercial reading services and physicians.
CARDIOCOMM SOLUTIONS, INC. 
