Major Medical Diagnostics Manufacturer Signs Agreement to Use AmbiCom Wireless Solution in Its Urinalysis Product Line
MILPITAS, Calif., May 9, 2011 /PRNewswire/ -- AmbiCom Holdings, Inc. (OTCQB: ABHI), a leader in the development of wireless products for medical equipment suppliers, today announced that it has signed an agreement with a major manufacturer of healthcare diagnostics products to use AmbiCom's Wi-Fi technology product set in its urinalysis product line.
The agreement calls for AmbiCom's 802.11N USB Adapter/Dongle to be licensed for use in the manufacturer's latest addition to its urinalysis product family, a product set that is sold worldwide. While formal terms of this agreement were not disclosed, this agreement significantly expands AmbiCom's current relationship with this global manufacturer.
"We have been building our relationships with medical equipment suppliers throughout the years on the strength of our hardware, applications, and underlying customer support," said Kenneth Cheng, President of AmbiCom. "This agreement is one of the first in which both our hardware and corresponding software will be integrated in a specific product line. We are focused on the development of this and other integrated solutions, which we expect to move AmbiCom up the value chain in our space, increase our market opportunity, and ultimately expand our profit margins. We are delighted that AmbiCom has been chosen as the supplier, and we look forward to a successful relationship in this endeavor."
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward- looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on November 13, 2007, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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SOURCE AmbiCom Holdings, Inc.