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Connectyx Technologies and VeriTeQ Acquisition Announce Termination of Merger Negotiations
Posted February 21, 2012
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Connectyx Announces Expansion of MedFlash's Benefits with Telenursing; MedFlash Members Now Have 24/7 Access to Registered Nurse Consultation at No Additional Cost
STUART, Fla., -- Connectyx Technologies Holdings Group, Inc. (OTC Pink: CTYX.PK), the manufacturer and distributor of the MedFlash® Personal Health and Wellness Management System (ePHM) announced that Connectyx Technologies and VeriTeQ Acquisition Corporation have terminated merger negotiations.
Ronn Schuman, CEO of Connectyx Technologies, said, "The companies conducted due diligence related to a potential merger and it was determined mutually by the Connectyx Board of Directors and the VeriTeQ Board of Directors that a merger was not in the companies' best interests at this time." Mr. Schuman stated that he will continue to pursue opportunities, both strategic and tactical to achieve the strategic goals and implement the business plans for the company's health manager and pet products.
Schuman continued, "We look forward to building the MedFlash franchise for personal health and wellness and our soon to be launched pet medical records. Today's announcement of a nurse consultation at no charge to MedFlash subscribers is further development of our commitment to MedFlash subscribers."
Separately, Connectyx announced today the availability of 24/7 consultation by registered nurses through FONEMED, Inc. to all MedFlash members requiring some assistance in obtaining health information at no additional cost.
Schuman continued, "We look forward to building the MedFlash franchise for personal medical and wellness and soon to be launched pet medical records."
FONEMED's nurse advice service offers a unique system to quickly route the MedFlash member to needed health information. Experienced registered nurses utilize an assessment system that accurately identifies needs and level of urgency for callers seeking medical care or information. Many times, after speaking with a health professional, callers gain reassurance in receiving health information that often reduces the number of many unnecessary emergency room visits. In addition, nurses may suggest OTC medications that may address the symptoms reported by the MedFlash member.
Members can also quickly access an audio health library of over 2200 topics on health and wellness including 600 subjects offered in Spanish. Health information includes information on symptoms of diseases and other health conditions, surgery and organized by specific age groups. The audio library also provides a drug and nutritional supplement database, health encyclopedia, medical dictionary, informative graphics and interactive videos.
Telenursing helps in driving down the costs of health care, provides a real benefit to the rapidly growing aging and chronically ill population for which a potentially unnecessary visit to the doctor is a real ambulatory challenge, and facilitates healthcare care to distant, rural, small or sparsely populated regions. Telenursing often can reduce hospital overnights.
Interested investors and shareholders are invited to be added to the corporate e-mail database for corporate press releases and industry updates by sending an e-mail to investorrelations@connectyx.com
About Connectyx Technologies
Connectyx Technologies provides unique products for the healthcare market including MedFlash®, the electronic Personal Health Manager (ePHM). The MedFlash® PHM is an easy to use Personal Health and Lifestyle Manager that is accessible using a powerful web portal suite. The MedFlash® PHM also features a 24/7/365 call center, a USB flash drive and our smartphone applications with Scan code capability. The MedFlash® PHM provides member benefits including instant access to your Emergency Medical Profile and Personal Health Record in the event of an accident or a medical emergency. Whether traveling, at work, or at home, First Responders have an invaluable advantage when they have access to this time critical information. Far more than just an emergency flash drive, the MedFlash® PHM can be accessed on any computer, securely and with complete privacy. There are also lifestyle and wellness features that provide significant health benefits to members and risk mitigation for employers and insurers alike. Connectyx products are developed with the needs of patients, families, doctors and First Responders in mind. For more information, please visit our websites at: www.connectyx.com, www.phrtoday.com and www.medflash.com
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