ATLANTA, GA--(Marketwire - September 16, 2011) - ALR Technologies (OTCBB: ALRT) and Mantra Healthcare Solutions announce the restructuring of their Representation Agreement.
After a period of three months and a mutual review of the structure of the relationship, both ALR Technologies and Mantra Healthcare Solutions have decided to redefine their relationship to best align resources and efforts with respect to both ALR Technologies’ and Mantra Healthcare Solutions’ business objectives.
In order to facilitate this restructuring, both parties have executed a Mutual Release and Discharge Agreement terminating the original Representation Agreement.
“Mantra was tasked with engaging Key Opinion Leaders, developing compelling financial models, generating increased and meaningful activity at trade shows, improving our sales collateral program, and creating the foundation of a national sales program,” said Sidney Chan, Chairman and CEO of ALR Technologies.
“Mantra performed all of these tasks with a commitment to excellence and delivered the results we desired in the short timeframe,” Chan concluded.
About ALR Technologies Inc.
ALRT Health-e-Connect (HeC) is the principal product of the company. HeC is a web-based application for medical professionals to improve compliance and adherence of care plans in their homes. HeC is programmed to assist healthcare providers caring for diabetes patients. The platform will be expanded to cover patients with other chronic diseases. The HeC system is not available for sale in the U.S. pending FDA 510(k) clearance. More information on ALR Technologies and its products can be found at http://www.alrt.com.
About Mantra Healthcare Solutions
Mantra Healthcare Solutions specializes in the product launch and market development efforts of leading-edge Chronic Disease Management tools and care regimens.
This release contains certain “forward-looking statements” relating to ALR Technologies’ business, and these statements reflect the current views of ALR Technologies with respect to future events and are subject to certain risks, uncertainties and assumptions. When used, the words “estimate,” “expect,” “anticipate,” “believe” and similar expressions are intended to identify such forward-looking statements. There are many factors that could cause the actual results, performance or achievements of ALR Technologies and its products to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Further management discussions of risks and uncertainties can be found in the company’s quarterly filings with the Securities Exchange Commission.
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