Sunrise Holdings in Definitive Agreement to Acquire Event Cardio Group in Share Exchange
10 September 2014 - 4:04PM
Business Wire
Completion Expected Within 30 Days
ECG’s Now Cardio™ Technology Could Boost
Cardiac Monitoring, Save Lives
Sunrise Holdings, Limited (OTCQB:SUIP) a Nevada public company,
has entered into a definitive share exchange agreement to acquire
2340960 Ontario Inc. d/b/a Event Cardio Group (“ECG”), a company
dedicated to cardiac medical device innovation, patient monitoring
and cardiac event prediction.
The transaction is anticipated to close within 30 days. After
closing, ECG will be a wholly owned subsidiary of Sunrise. Sunrise
intends to pursue a name change and ticker symbol change to better
reflect the Company’s future line of business.
Under the current state of technology, cardiac monitoring
suffers from patients failing to wear their monitoring devices. The
diagnostic yield from the data collected from holter monitors is as
low as 4% and from event recorders 62%.
ECG is developing a new product, Now Cardio™, an advanced
cardiac monitor which offers dual-functionality including both
holter monitoring and event recording simultaneously. As a wireless
and leadless system, it is more comfortable to wear, and as a
result, is more likely to be worn. Based on experience, ECG
believes it can reach diagnostic yields greater than 90%. ECG
believes that this would be a meaningful first within the
industry.
Sunrise expects the Now Cardio™ monitor, when completed, to
receive both atrial and ventricular data from as far as 1,000 feet
to a home–based receiver possibly as soon as its first model. It
plans for the monitor to be able to transmit the data, via
landline, cellular or satellite and potentially combinations of 2
or more of these 3 data vehicles, to a control center where the
patient’s heart-health is continuously monitored for up to 32 days
consecutive days, 24 hours per day. Satellite technology similar to
the “OnStar” systems on autos will locate patients at risk wherever
satellite technology is available. ECG’s solution will facilitate
the development of medical protocols for the patient and healthcare
professionals based on risk levels and response choices. ECG’s Now
Cardio ™ monitor is still in development and milestone projection
dates should be released later this year.
John Bentivoglio President and CEO of Sunrise Holdings, said
“Our research indicates that while the New Cardio™ technology
should bring many firsts to the cardiac monitoring industry, the
real excitement for ECG is in the potential of longer term additive
products to support this project such as but not limited to
predictive capabilities for cardiac events/heart failure on
subsequent models.”
“Further, if medical professionals can identify patients at risk
prior to a life-threatening cardiac event occurring, they can
direct the patient to a hospital to receive care and potentially
avoid a stroke or other cardiac events. We believe that the
technology has the potential to deliver significant and permanent
annual savings to health care systems and cost effective on-going
cardiac diagnostics patient management solutions. We also believe
that the technology has the potential to save untold lives.”
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
Information included in this press release may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act of
1934, as amended (the "Exchange Act"). This information may involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Sunrise
Holdings Limited (“Sunrise”, “We”, “Our” or the “Company”) to be
materially different from future results, performance or
achievements expressed or implied by any forward-looking
statements. Forward-looking statements, which involve assumptions
and describe our future plans, strategies and expectations, are
generally identifiable by use of words "may," "should," "expect,"
"anticipate," "estimate," "believe," "intend" or "project" or the
negative of these words or other variations on these words or
comparable terminology. Forward-looking statements are based on
assumptions that may be incorrect, and there can be no assurance
that any projections or other expectations included in any
forward-looking statements will come to pass. Our actual results
could differ materially from those expressed or implied by the
forward-looking statements as a result of various factors. Except
as required by applicable laws, the Company undertakes no
obligation to update publicly any forward-looking statements for
any reason, even if new information becomes available or other
events occur in the future.
Sunrise Holdings IncJohn Bentivoglio289-407-4377 or
561-271-7157President and CEOjohnbentivoglio@gmail.comorPorter, LeVay and
RoseMichael Porter212-564-4700PresidentMike@plrinvest.com
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