MediSwipe Inc. and 800 Commerce Inc. Subsidiary Announce Binding Agreement to Acquire Telemedicine and Online Healthcare Platform Portal SweetMD.com

LOS ANGELES, May 24, 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 a binding agreement to acquire all the assets and outstanding common stock of a unique telemedicine and online healthcare platform portal SweetMD.com (www.SweetMD.com). The transaction is expected to be completed within the next 30 days subject to the customary legal and closing conditions.

"I am very pleased to announce the acquisition of SweetMD.com and its management team by MediSwipe Inc. We truly believe that this online healthcare platform represents the ideal and affordable model of healthcare for the 21^st century. Services include telemedicine, 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. SweetMD.com, adding new members every day, offers healthcare services for $29 a patient each month or $299.00 for all services annually," stated Michael Friedman CEO for MediSwipe Inc.

"The signing of this agreement with SweetMD is a transformational event, and will help us fulfill our commitment to create shareholder value, while at the same time creating a truly meaningful business model for both MediSwipe, while utilizing the technology and SMS platform of our subsidiary 800 Commerce. Although we had reached what we thought would be the completion of our agreement with ReachMeDaily.com, the two parties could not come to final terms on payment and equity within the definitive agreement, due to several factors including our market share price," further stated Friedman. "It was to our great fortune that our President Erick Rodriguez was able to create the relationships with some of the largest healthcare providers in the country and satisfy a great need within our healthcare system through SweetMD.com, allowing us to grow our company organically, without the huge expense of cash and equity away from the Company," concluded Friedman. 

"We are extremely excited about the opportunity to become a part of MediSwipe and leverage the great technology that 800 Commerce has developed," stated Erick Rodriguez, CEO of SweetMD and MediSwipe President. "We believe that this will now allow both SweetMD and MediSwipe to offer consumers a complete healthcare solution utilizing our large network of providers and facilities nationwide and our telemedicine platform to consumers and businesses." Mr. Rodriguez added, "Our goal is to deliver unique healthcare solutions to millions of Americans at an affordable price, that will generate meaningful revenues and create long term value for our shareholders."

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.

About SweetMD.com

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.

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.

CONTACT: MediSwipe Inc.          Investor Relations:          615.252.4099          [email protected]

Source: MediSwipe Inc.