Full Press Release Details
EncounterCare and iGambit Inc. sign Letter of Intent
for iGambit Inc. to acquire certain assets of CyberCare
Smithtown, NY. (Marketwired - August 15th, 2016), iGambit Inc.
(OTCQB:IGMB) iGambit Inc. announced it has entered into a
LOI with EncounterCare Solutions Inc. (ECSL). Under the terms of the
LOI, iGambit Inc. will buy certain assets of CyberCare Health Network, Inc.
and will assume certain specifically identified liabilities. Payment for the
acquisition will be made in the form of iGambit common stock which
EncounterCare expects to disperse in the form of a dividend to existing
EncounterCare stock holders of record at the closing of the transaction.
iGambit Inc. and CyberCare Health Network, Inc. will collaborate in
the preparation of a Asset Purchase Agreement.
iGambit Inc. estimates a closing within 45-60 days from the signing of
the Letter of Intent and the commencement of due diligence. iGambit
Inc will use its best efforts to speed the transaction to a closing.
The LOI has certain binding and non-binding obligations, and the
transaction is subject to various conditions to closing, including
satisfactory completion of due diligence, approval of the Company s
shareholders, if required, and definitive documentation. A copy of the
Form 8-K report may be accessed at www.sec.gov
John Salerno, Chairman of iGambit, stated, We have looked hard
and long for an opportunity like this. To be part of a $30 billion industry
with an FDA approved product, dealing with an experienced and talented
team. Our goal is to get significant market share and be a major player in
the Wearable Monitoring business. In addition, we plan to license and
exploit our intellectual property and patents.
Ron Mills Sr., CEO of EncounterCare stated, We have been working since
January of this year to bring our new Wearable Monitoring and Back Office
System into the marketplace. We have had the benefit of working with health
industry experts as well as leading edge tech and design groups. CyberCare
Health Network, Inc. is ready to roll out its new wearable healthcare line
which will focus initially on the trucking industry and specifically trucking
fleets. We expect to premier the new system at the Great American Trucking
Show on August 25, 26, 27, 2016. We are very excited to be able to help the
trucking industry meet the new D.O.T. stringent record keeping parameters due
to take effect in December 2017.
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I feel that iGambit Inc., their staff and network of new contracts focused on
wellness and care management will greatly enhance the ability for CyberCare
Health Network, Inc. to fulfill its mission and grow rapidly as the new
industry gains momentum. The new CyberCare System, called
Heartbeats(TM) is expected to be the first device to reach the marketplace
with FDA approval. CyberCare Health Network, Inc. is expected to file a
letter with the FDA to include the new watch device as part of the Electronic
House Call System which has FDA approval for both its hardware and
software. The new health wearable industry is expected to top $14 Billion this
year and $34 Billion by 2020.
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About: CyberCare Health Network, Inc.
The CyberCare Solutions FDA approved, secure online web application
allows clinicians, other professionals and family members to manage or
monitor health and wellness plans. This easy to use application is an
integral part of our telehealth offerings, and is the connection between the
clinician, the professional and or family members.
Benefits to trucking fleets worldwide.
Meets federal guidelines for driver compliance
Monitor and Detect driver alertness and fatigue
Promote healthy choices and goals to reduce absenteeism
Reduce cost of both health insurance and liability insurance.
Clinical Benefits of the Cybercare Health Wearable
Game changer for clinical management for Cardiac and Pulmonary
Remotely monitor patients between scheduled visits
Increase patients care plan compliance
Detect and intervene early to minimize disease exacerbation
Improve outcomes for patients with chronic illnesses
The CyberCare web application incorporates a long list of features
designed to help clinicians manage more patients with less effort while
providing the personalized care needed to improve patient outcomes.
Clinicians use the CyberCare services web application to schedule patient
monitoring sessions, review patient s vital signs, and set alerts that notify
them when a patient s vital signs are outside of preset ranges.
Additional features include:
Extensive library of customizable disease management protocols
Patient vital statistics and compliance reports
Risk stratification monitoring and reports
Educational content programming
The CyberCare Health Network, Inc. web application was created using
the latest in secure encryption technology which keeps patient information
secure while allowing clinicians to access their patients information from
anywhere they have internet access.
iGambit (OTCQB: IGMB) is a fully reporting publicly-held company. We
are a diversified company pursuing specific technology strategies and
objectives. These objectives have included, among others, the acquisition
of early-stage technology companies with strong growth potential easily
recognized in the public arena. We believe that the background of our
management and of our Board of Directors in the technology markets is a
valuable resource that makes us a desirable business partner. We expect
to work to assume an active role in the development and growth of the
new company, providing both strategic guidance and operational
support. The management of iGambit believes that it can leverage its
collective expertise to help position the combined company to produce
high-margin, recurring and predictable earnings and generate long-term
value for our stockholders. For more information, please visit
www.igambit.com. Information on our website does not comprise a part
of this press release.
Certain statements and information included in this press release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Act of 1995. When used in this press release, the words or