LOS ANGELES, July 3, 2012 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP), a merchant payment solutions and financial products company for the medical health care industry, today announced that the Company has signed and completed the definitive agreement to acquire certain assets of SweetMD Inc., (www.SweetMD.com), a unique telemedicine and online healthcare platform portal based in Las Vegas, NV.MediSwipe currently expects the transaction to close by July 30, 2012, after satisfaction of customary closing conditions. The Company's Board of Directors has voted unanimously in favor of the share exchange and definitive agreement to acquire all assets of SweetMD, and has entered into a voting agreement with the management of SweetMD in support of the transaction. Specific terms of the transaction, which is subject to majority shareholder approval and various other closing conditions, will be disclosed in the MediSwipe SEC filings.
"I am very pleased to announce this acquisition of SweetMD.com in light of the recent vote and Supreme Court's decision regarding the future of healthcare for those Americans seeking viable and affordable options. We believe that our strategic plan for SweetMD.com as a model and aggregator of virtual healthcare services, will allow easy access to healthcare options for millions of Americans for which coverage is now mandated by our government, at a low cost to individual patients and their families", stated B. Michael Friedman, CEO of MediSwipe Inc.
"We truly believe that this online healthcare platform represents the ideal and affordable model of healthcare for the 21st century. Our services include telehealth, allowing patients the opportunity to speak to physicians via video online, discounts on office visits and name brand prescriptions, as well as personal health records for family members. This partnership will now allow both SweetMD and MediSwipe to offer consumers a complete healthcare solution utilizing our large network of providers and facilities at an affordable price, that will generate meaningful revenues and create long term value for our shareholders," stated Erick Rodriguez, President of MediSwipe Inc.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and e-commerce businesses specializing within the healthcare sector.
SweetMD (www.SweetMD.com) has developed a program to bring affordable healthcare services to individuals, families and small businesses. Our Membership is a great alternative to costly health insurance for businesses, uninsured and insured individuals and families and provides great savings at thousands of providers nationwide. The unique portal provides telemedicine services, video doctor patient calls, personal health records (PHRs) and discount medical programs for the uninsured and on name prescription drugs.
About 800 Commerce Inc.
800 Commerce (www.800Commerce.com) provides white label mobile and payment solutions for business designed to drive return on investment for high-volume clients and/or customized branded advertisers. Our platform and tools are designed to enable large brands or anyone with substantial reach to utilize the mobile device as a new means to communicate. Communication might be in the form of an advertisement or offer, coupon or reminder message in voice or Short Message Service (SMS). Regardless of the form, our platform can drive value and cost savings for companies large and small and the ability to drive contextually relevant advertising messages to the right audience.
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.
CONTACT: MediSwipe Inc.