MediSwipe Inc. Announces New Corporate Headquarters in Michigan
New State Legislation Favoring Medical Marijuana and Medical Dispensaries Offers Company Growing Business Opportunities LOS ANGELES, CA -- (MARKETWIRE) -- 01/03/13 -- MediSwipe Inc. (www.MediSwipe.com) (OTCQB: MWIP), a patient security solutions and financial products company for the health care industry, announced today that the Company has relocated its corporate headquarters from South Florida to Birmingham, Michigan effective immediately. The Company made the decision to relocate to Michigan based on recent and favorable state legislation regarding medical marijuana and dispensary laws as early as two weeks ago in December 2012.
While Colorado, Washington and Massachusetts have grabbed the spotlight during the elections, the state of Michigan made plenty of headway as well, though in an indirect way. Voters in four cities -- Detroit, Grand Rapids, Flint and Ypsilanti -- backed initiatives to decriminalize marijuana or make cannabis a low priority for law enforcement officials.
Key members of the MediSwipe leadership team, including President B. Michael Friedman and legal counsel, will be based in the state as well as some of the Company's largest shareholders. As one of the fastest growing medical marijuana states, Michigan will also provide a strong community of support for the growing Company.
Michigan's recent legislation adds clarification and restrictions to the voter-approved medical marijuana act of 2008 and got the required support from three-fourths of legislators. The changes are the result of many months of meetings with stakeholders and committee hearings with testimony from law enforcement officials, doctors, medical marijuana caregivers and patient advocates.
Two main bills got 29-9 and 30-8 votes in the Republican-led Senate. Shortly after, the GOP-controlled House voted 98-7 and 100-5 to send them to Gov. Rick Snyder.
HB 4834 requires a driver's license or state ID card to obtain medical marijuana patient registration cards, extends the card's expiration from one to two years, and attempts to address a backlog of card applications by calling for the state to contract with a private company to help process and issue registration cards.
It also would allow the Department of Licensing and Regulatory Affairs to verify the validity of registry cards to members of law enforcement, without disclosing more information than necessary.
HB 4851 adds conditions for a "bona fide physician-patient relationship," which is required for medical marijuana cardholders.
"I felt this move was a necessary and important move for the Company, and will allow us to keep a close pulse on the industry as we continue to introduce innovative products to businesses and patients in Michigan and surrounding states proposing similar legislation. While the states out west including Colorado and Washington figure out total legalization, we would prefer to focus on and be the dominant player within the east coast and Midwest markets like Michigan, New Jersey, Massachusetts and potential new emerging markets like Ohio and Vermont, keeping our east coast roots as well as remaining close to our investment banking partners on Wall Street," stated B. Michael Friedman.
"Right now, MediSwipe can offer server or cloud based patient record scanning and record storage through our DigitalID software, bill pay and cashless payment kiosks for alternative payment solutions as well as mobile platform solutions for coupons, prescription alerts and renewals. Any dispensary or healthcare operation seeking more information on the MediSwipe suite of products may call our offices at 561.296.6393," further stated Friedman.
About MediSwipe Inc. MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides a terminal based service packages and an integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and alternative medical Financing.
FORWARD-LOOKING DISCLAIMER This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.
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