MIAMI--(BUSINESS WIRE)--Keith Houlihan, president and Chief Executive Officer of Sanomedics International Holdings Inc., today announced the launch of Sanomedics Development Corporation, to be led by Abhishek Shrivastava, Chief Technology Officer.
A wholly owned subsidiary of Sanomedics International Holdings, Sanomedics Development will be an incubator for identifying and swiftly bringing to market healthcare-focused solutions in information technology, software, medical devices, services and tele-health applications. These new solutions for the healthcare industry are anticipated to reduce cost, increase quality and improve healthcare efficiency overall.
“With healthcare consuming over a trillion dollars annually as a greater proportion of the Gross National Product, this industry is positioned for an explosion in the development of new technologies to reduce cost and improve quality,” said Keith Houlihan, president and CEO. “Efforts at healthcare reform undertaken by President Obama focus on improved uses of information technology with the development of new devices and services to meet the two major goals of reform - improved quality and reduced cost. Sanomedics Development is our effort to find, fund and bring to market as rapidly as possible these newly emerging solutions through Sanomedics International.”
Sanomedics Development Corporation will be funded and controlled by Sanomedics International Holdings Inc. “This will allow for rapid product evaluation and decision-making in regards to newly discovered opportunities,” said Abhishek Shrivastava, Chief Technology Officer. “In my view, the uncontrolled ever escalating costs across the healthcare industry are unsustainable. New innovations combined with speed to market and rapid adoption is critical in providing effective and affordable solutions to the problems facing healthcare today.”
About Sanomedics
Sanomedics manufactures and distributes medical and home health products. A pioneer in the trend for preventive medicine, the Sanomedics goal is to act as a bridge between the medical world and home. Sanomedics home healthcare products are easy to use and can be found in any home medicine cabinet or doctor’s office. Sanomedics Development Corporation identifies new solutions for the healthcare industry to improve quality, reduce cost and create greater operating efficiencies.
Forward-Looking Statements
This press release may contain statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the intent, belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The Company’s periodic filings with the Securities and Exchange Commission should be viewed for a complete understanding of risk and uncertainty.
www.sanomedics.com
©2009 Sanomedics International Holdings Inc. All rights reserved.
Contact:
Sanomedics International Holdings Inc. Keith Houlihan, 305-433-7814, ext. 901