Profitable..MDHI Restocks Inventories - Prepares for 2 Additional Retail Promotions With Costco America's Largest Discount Warehouse Chain
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KING OF PRUSSIA, Pa., Dec. 11, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB:MDHI.PK), today announces the replenishment of its inventories after completing several very successful retail promotions with one of the country's largest retailers. The receipt of these new inventory shipments will ensure the Company's continuity in delivery of the MediPendant™ to new customers. Additionally, the Company is announcing today it has signed an agreement with this retailer for participation in two additional promotions.
Customer reviews on this retailer's site have been very strong with ten current reviews being listed, all of which have been rated "Five Stars" out of five possible.
Mr. Ronald Adams, Company CEO commented, "We are very happy to report to our investors that the MediPendant™ units that we are currently shipping and the units we are currently receiving are operating flawlessly. Customer satisfaction is very strong and our return rates are extremely low. The MediPendant™ has been receiving strong reviews from our customers and strong referral rates. This is helping to accelerate our growth trajectory."
Commenting further Mr. Adams said, "Our sales have continued to be very strong resulting in us selling out nearly our entire inventory. Fortunately, we were able to time the arrival of new MediPendant™ units, enabling us to continue shipments without disruption. Our most current retail promotion generated over 600 incremental monthly monitoring contracts, which will add significantly to our fast growing monthly recurring revenue base. As we have indicated previously, we have now sold enough monthly contracts so that this recurring revenue base exceeds our monthly outlays allowing us to be profitable for full year 2013."
Mr. Adams continued, "With our inventory restocked, we are preparing to launch two additional promotional programs with this retailer during the first half of the 2013. We also plan to order additional inventory over the short term, as we believe our current stocks will sell out rather quickly. We are clearly beginning to increase our market share and we expect to have a very strong 2013, which will be driven by high-margin and recurring monthly revenue streams from high-quality customers. We are very excited about our positioning moving into the New Year."
The MediPendant™ is a second-generation personal medical alarm and the only product in its category that allows for monitored, two-way communications directly through the pendant with voice prompts. Older generations of technology require the user to be in close proximity to the base station in order to speak and listen to the operator. With the MediPendant™, the customer can be anywhere within 600 feet of their home and in the event of an emergency, they can speak and listen to the EMT trained operator directly through the pendant.
Additional information on the MediPendant™ can be viewed at www.MediPendant.com
