PALM BEACH GARDENS, FL–(Marketwired – Aug 15, 2016) – EncounterCare Solutions (OTC PINK: ECSL) announced it has entered into a LOI with iGambit, Inc. (OTCQB: IGMB). 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.
“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™” 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.”
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.
About: iGambit Inc:
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 phrases “will likely result,” “expected to,” “will continue,” “anticipated,” “estimate,” “projected,” “intends,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed within this press release.