SOURCE Emerald Medical Applications Corp. Expects Significant Revenue and Earnings from the Contract
PETACH TIKVA, Israel, April 11, 2016 /PRNewswire/ --
Emerald Medical Applications Corp. (OTCQB: MRLA), an Israeli-based company engaged in the development and sale of its proprietary DermaCompare™ cloud-based, artificial intelligence technology for the early diagnosis of Melanoma/skin cancer, today announced entry into a cooperation agreement with Terem, one of Israel’s largest community-based, emergency healthcare providers with 17 medical facilities, serving over 700,000 patients throughout Israel.
Starting in April 2016, Emerald will begin to offer its DermaCompare™ technology at each of Terem’s clinics throughout Israel, offering advanced dermatological examinations, diagnosisand treatment led by a leading professional Dermatologists. DermaCompare™ is Emerald’s cloud-based, artificial, intelligence technology using Total Body Photography imaging which is capable of being automatically compared to a patient’s previous images to diagnose and detect the presence of Melanoma in its earliest stages.
Lior Wayn, Emerald’s CEO, stated that “DermaCompare™, Emerald’s FDA approved, HIPPA compliant software technology, which can be downloaded from any Mac or Android based App store, enables physicians andtheir patients, using virtually any digital camera, including cell phones, iPads, tablets and other similar devices, to take Total Body Photography images and, in real-time, transmit these images for dermatological evaluation and identification of suspicious moles, lesions and other skin conditions. These images are then compared using Emerald’s cloud database, as well as the patients previous Total Body Photography images, which will dramatically enhance a physician’s ability to detect Melanoma earlier, more accurately and more efficient than other means of diagnosis.”
Nathan Applebaum, Terem’s CEO, said “DermaCompare™, Emerald’s represents cloud-based, “state of the art"technology, with both physician interface and user phone application,will be of huge benefit for our patients - in our 17 clinics throughout Israel. We expect this new service will rapidly become one of the premier dermatology and skin cancer diagnosis practices in Israel.”
LiorWaynfurther stated that “We are excited to partner with Teremin offering our DermaCompare™ technology for their patients and physicians. Terem’s ability, starting in April 2016, to provide a greater number of patients with early and accurate skin cancer diagnosis using DermaCompare™thereby significantly reducing mortality rates from Melanoma as a result of early and directed treatment. We also expect to introduce enhanced diagnosis applications using our DermaCompare™ technology in or about the 3rd quarter of 2016 for evaluation and diagnosisother skin diseases. We expect that our relationship with Teremand their use of our DermaCompare™ technology will result in significant revenues for Emerald starting in the second half of 2016 and continuing for the foreseeable future. Our revenues are expected to increase further with the enhanced diagnosis applications of DermaCompare™ beginning by year-end 2016 and thereafter.”
About Emerald Medical Applications Corp
Emerald Medical Applications Corp., through its wholly-owned Israeli subsidiary, is engaged in the development and sale of its proprietary “DermaCompare” software, using among other devices, digital cameras, camera-equipped smart phones or tablets, to enable dermatologists and other medical care professionals to remotely analyze total body photography images of skin lesion images to diagnose the presence of skin cancer/Melanoma. For more information, visit:http://www.dermacompare.com/
About Terem
Terem, is one of Israel’s largest community-based, emergency healthcare providers with 17medical facilities, serving over 700,000 patients throughout Israel. for more information please visit http://www.terem.com
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about Emerald’s expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Emerald or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by Emerald with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of Emerald’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Emerald’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Emerald’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in Emerald’s filings with the SEC. In addition, Emerald operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Emerald does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Reference is made to the disclosure under “risk factors” included in our Registration Statement on Form S-1 which was declared effective by the U.S. Securities and Exchange Commission on January 20, 2016.
Contact:
Lior Wayn, CEO
+1-917-7242059
+972-50-6816300
IR@DERMACOMPARE.COM
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