MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP), a data management,
patient security and financial products company for the medicinal
marijuana and health care industry, today announced the filing of
its annual report. The Company issued the following Letter To
Shareholders from the CEO, B. Michael Friedman.
Dear Shareholders,
As Chief Executive Officer of MediSwipe, it is with great
pleasure that I address you today and review our corporate growth
over 2012 as well as outline our vision for 2013. This year
promises to be an opportunistic time for our company, and we intend
to continue to inform our shareholders, potential investors and
customers regularly of our progress. Our first priority is to
aggressively roll out and commercialize our MediSwipe suite of
applications and products for the medicinal marijuana and
healthcare sectors as we continue to gain momentum into 2013 and
the future.
Major Highlights of 2012
Last year was a challenging one, with changes in banking
legislation that no longer permitted merchant processing for the
medicinal sector. This posed a challenge to the foundation of our
primary business model. Over the last several months, we sought
vertical markets, which would be both sustainable and profitable
while allowing us to best use our resources and banking network.
Our initial strategy, to provide financing for elective surgeries,
for patients through our seasoned banking relationships, provided
the springboard for our new application development. These are now
being launched in several dispensaries, provisional centers and to
caregivers with approved states with medicinal
legislation.
We are happy to report that we have completed the development of
the Patient and Caregiver Data Management System. Also the
MediCredit Patient cards, a part of this system will provide
enhanced data management for the industry and patients. We shall
continue to provide innovative data management solutions.
The opening of our first patient certification centers within
the state of Michigan with additional centers planned for
Massachusetts and San Diego shall be forthcoming in 2013. We expect
to achieve an uptrend in sales as we begin to roll out what we
sincerely believe to be an innovative data management business
model for the medicinal marijuana sector.
Mediswipe Stored Value Cards
The Mediswipe Stored Valued Card system provides among other
things, complete reporting, stored value, administrative functions,
data management of patient purchases, customer bonus rewards,
marketing via text messaging and HTML emails to patients. The
MediSwipe alternative payment solution platform provides a POS
based tablet and virtual payment alternative allowing vendors and
merchants to offer a cashless transaction to patients and customers
which will track all transactions as well as provide a
bonus/loyalty and rewards program. The MediSwipe Stored Valued
Cards may be branded to specific merchants and networked to
multiple locations. MediSwipe will receive monthly fees per
merchant for the complete administrative package and card load fees
from each patient approved for use for the card similar to ATM
fees. This system solves a number of security issues that
caregivers and patients face in providing for secure
transactions.
Data Management System
MediSwipe has developed a new data management solution that
enables consumers to securely file, store and conveniently retrieve
important documents. In addition, this system authenticates
personal health documents via a secure server, cloud based system
over the Internet. The DMS is a breakthrough data management
product for the industry. The MediSwipe Digital Management System
("DMS") is an economical solution and easy-to-use web-based
application that has the potential to appeal to a market base of at
least 75 million U.S. consumers. The MediSwipe DMS is compatible
with virtually all operating systems, web browsers, and file
formats. Users can quickly upload or even e-fax their
documents into their secure "vault", and then organize, manage,
review and send document copies wherever needed, anytime via the
Internet. Each provisional center, caregiver and doctor will pay
monthly fees for access, maintenance and storage of patient records
through the HIPAA compliant secure server database.
Kiosks
Patients, who have their medical records scanned to an encrypted
digital patient identification card as described above, can then
use the card with the MediPay kiosks. The Medipay kiosks in
addition to providing alternative forms of cash payments; will also
transfer and store all transactions onto the patient's
identification card, thereby giving the patient a full history of
all their transactions along with their medical records. MediSwipe
shall receive monthly digital record storage fees similar to a
virtual medical dropbox and patient portal application, as well as
transaction fees similar to an ATM designed specifically around
healthcare transactions. This system provides enhanced security and
service for patients and care givers.
Patient Certification and Registry Services and
Caregiver's Record Management Services
The first MediSwipe patient certification center now branded as
"The Certification Station" is now accepting patients this first
week of April 2013. Located in Washtenaw County, Michigan, the
center will be the first of its kind within the state allowing
patients to receive guidance in filing required documents to the
state in applying for state medical marijuana ID cards. The
patient will also receive consultations with doctors and physicians
for state certification and digitization and management of medical
records within the MediSwipe system on behalf of registered
caregivers. The certification centers will also allow for a central
point for the 27,000 caregivers within the state to register within
the MediSwipe data management system, for maintenance and data
management of the patient count of each caregiver.
The second certification center is located in Detroit, Michigan,
and consists of almost 3,000 square feet for patient care,
certifications and education. Three fully licensed physicians have
been contracted by MediSwipe and will rotate from the two
locations. MediSwipe will receive fees directly from patients for
streamlining the state approval process and filing state forms to
receive state ID's, as well as receive fees from doctors for
appointment setting and digital record storage on their behalf.
Building on this success we have achieved, we look forward to
continuing our momentum in 2013. With the development phase behind
us, and the launching of our application suite in several
locations, our experienced and talented management team has been
actively building the Company's business pipeline. We are
optimistic that 2013 will be a breakthrough year for MediSwipe.
Strategic Vision for 2013
The fastest growing segment in the Digital and Mobile Health
Market is the use of mobile applications and devices to monitor
patient health remotely. Patient non-compliance contributes to over
$100 billion in losses annually, and prescriptions filled each year
that are not taken correctly contribute to over 125,000 deaths
annually in US. President Obama's re-election has further changed
the landscape of the Healthcare market. Under his administration
every American citizen will need to have an electronic health
record in the next few years.
We look forward to completing the spinoff of 800 Commerce Inc.,
and providing a dividend to our loyal shareholders over the next
few weeks. I believe that 800 Commerce as a separate public company
with a focus on the mobile marketing and online directory business
including MY800Doctor.com, MY800Lawyer.com and its MY800 platform
will eventually create meaningful shareholder value as well.
Our focus on developing applications specifically for the
medicinal sector which provide tracking, data storage and payment
have to date have not been duplicated. With almost half the states
in the nation having approved or are considering some form of
medicinal marijuana legislation, MediSwipe is gaining
traction. We are very excited about the opportunities we see
on the horizon to provide data management and payment solutions for
the industry. I am happy to report that we see new legislation
moving fast to open to us new markets. There is a clear opportunity
to drive top-line revenue with a commitment to building shareholder
value, providing shareholders greater liquidity, and broadening the
scope of investors attracted to the Company.
We see the global digital healthcare megatrend continuing to
grow for many years to come and look forward to leveraging our hard
work to position ourselves as a critical solution to the medicinal
sector with our leading technology. The launch of our technology
and applications solutions could not be better timed to take
advantage of the growing patient population and marketplace.
I thank you for your continued attention and support and look
forward to communicating with you again soon.
B. Michael Friedman
Chief Executive Officer
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) a data management, patient
security and financial products company for the medicinal marijuana
and health care industry. MediSwipe provides terminal-based service
packages and an integrated Web Portal add-ons for physicians,
clinics, hospitals and medical dispensaries that include: digital
patient records, Electronic Referrals, Credit/Debit Card merchant
services, Check Guarantee and elective surgery financing.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of MediSwipe Inc. to be
materially different from the statements made herein.
CONTACT: MediSwipe Inc.
248.262.6850
www.MediSwipe.com
info@mediSwipe.com
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