$CBSC Long with price target of 52-week range high $2.50
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CB Scientific, Inc. (CBSC) and Shenzhen Semacare Medical Technology Co., Ltd. Announce Collaborative Partnership Agreement
Companies to form a strategic partnership to collaborate on new monitoring solutions for growing international remote cardiac monitoring markets
SHENZHEN, CHINA and ESCONDIDO, CA / ACCESSWIRE / February 11, 2021 / CB Scientific. Inc. (OTC PINK:CBSC)("CBSC" or the "Company"), a provider of innovative products and services for the ambulatory noninvasive cardiac monitoring space, is pleased to announce that it has entered into a collaborative partnership agreement (CPA) with Shenzhen Semacare Medical Technology Co., Ltd. (Semacare), a privately held medical technology company based in Shenzhen, Guangdong, China. Semacare brings their MetaCor real-time remote monitoring device, certified and approved by the National Medical Products Administration ("NMPA') in China, and its associated wireless, waterproof patch electrode, to include their innovative artificial intelligence machine learning algorithm (MetaAI) to CBSC. This partnership will help to further strengthen and diversify both companies by improving CBSC's existing and future digital products and features while helping to expand the outreach of Semacare's MetaCor product offering internationally.
Under the terms of the CPA, the two companies will provide mutual assistance pursuing regulatory approvals for their individual products. CBSC will endeavor to consult and assist Semacare in their efforts towards regulatory approval of the MetaCor monitoring device for CE and US FDA 510(k) registration. Semacare will assist CBSC in the current regulatory approval process with the NMPA in China for the my-Cam monitoring device. During the term of this agreement, mutual efforts will be made towards the joint development of products, including interoperability between Semacare monitoring products and CB Scientific's current and future monitoring solutions. This includes assistance by Semacare to help develop a wireless, waterproof patch solution for CBSC devices. As part of this agreement our two companies will explore a broad scope of joint collaborations and relationships to include the possibility of a future strategic business combination, merger or acquisition.
Going forward, the two companies will share additional information regarding this agreement as new developments occur.
About Shenzhen Semacare Medical Technology Co., Ltd.:
Founded in January 2019, Shenzhen Semacare Medical Technology Co., Ltd (Semacare) is a medical technology company with a goal to lead medical innovation and a mission of "serving mankind through, with and within healthcare". At the core of our operations, we integrate clinical data with artificial intelligence and machine learning technology. By applying top technology to the ultimate product design, we aim to develop optimal user experiences, improve the efficiency of medical systems and optimize the value of life information engineering. Semacare focuses on early detection of cardiovascular diseases through a monitoring and recovering system. By leveraging machine learning technology and incorporating it into sleek hardware, Semacare brings ultimate user experiences to both professionals and patients.
CB Scientific, Inc. - CBSC is on Twitter, Facebook, Instagram and LinkedIn
Source: accesswire.com/629242/CB-Scientific-Inc-CBSC-and-Shenzhen-Semacare-Medical-Technology-Co-Ltd-Announce-Collaborative-Partnership-Agreement
Companies to form a strategic partnership to collaborate on new monitoring solutions for growing international remote cardiac monitoring markets
SHENZHEN, CHINA and ESCONDIDO, CA / ACCESSWIRE / February 11, 2021 / CB Scientific. Inc. (OTC PINK:CBSC)("CBSC" or the "Company"), a provider of innovative products and services for the ambulatory noninvasive cardiac monitoring space, is pleased to announce that it has entered into a collaborative partnership agreement (CPA) with Shenzhen Semacare Medical Technology Co., Ltd. (Semacare), a privately held medical technology company based in Shenzhen, Guangdong, China. Semacare brings their MetaCor real-time remote monitoring device, certified and approved by the National Medical Products Administration ("NMPA') in China, and its associated wireless, waterproof patch electrode, to include their innovative artificial intelligence machine learning algorithm (MetaAI) to CBSC. This partnership will help to further strengthen and diversify both companies by improving CBSC's existing and future digital products and features while helping to expand the outreach of Semacare's MetaCor product offering internationally.
Under the terms of the CPA, the two companies will provide mutual assistance pursuing regulatory approvals for their individual products. CBSC will endeavor to consult and assist Semacare in their efforts towards regulatory approval of the MetaCor monitoring device for CE and US FDA 510(k) registration. Semacare will assist CBSC in the current regulatory approval process with the NMPA in China for the my-Cam monitoring device. During the term of this agreement, mutual efforts will be made towards the joint development of products, including interoperability between Semacare monitoring products and CB Scientific's current and future monitoring solutions. This includes assistance by Semacare to help develop a wireless, waterproof patch solution for CBSC devices. As part of this agreement our two companies will explore a broad scope of joint collaborations and relationships to include the possibility of a future strategic business combination, merger or acquisition.
Going forward, the two companies will share additional information regarding this agreement as new developments occur.
About Shenzhen Semacare Medical Technology Co., Ltd.:
Founded in January 2019, Shenzhen Semacare Medical Technology Co., Ltd (Semacare) is a medical technology company with a goal to lead medical innovation and a mission of "serving mankind through, with and within healthcare". At the core of our operations, we integrate clinical data with artificial intelligence and machine learning technology. By applying top technology to the ultimate product design, we aim to develop optimal user experiences, improve the efficiency of medical systems and optimize the value of life information engineering. Semacare focuses on early detection of cardiovascular diseases through a monitoring and recovering system. By leveraging machine learning technology and incorporating it into sleek hardware, Semacare brings ultimate user experiences to both professionals and patients.
CB Scientific, Inc. - CBSC is on Twitter, Facebook, Instagram and LinkedIn
Source: accesswire.com/629242/CB-Scientific-Inc-CBSC-and-Shenzhen-Semacare-Medical-Technology-Co-Ltd-Announce-Collaborative-Partnership-Agreement
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Still holding.Key accomplishments that CBSC have achieved in the first seven months of operations include:
Launched My-Cardia ECG product services in Thailand (1300+ hospitals -population 66.85 million) through our authorized distributor, Mango Wellness, in October 2020, with expected new accounts in March 2021.
Signed a Definitive Purchase Agreement to acquire US medical device manufacturer DATRIX LLC in October 2020, targeted to close in April 2021. Manufacturing of our proprietary my-Cam cardiac event monitor from China to DATRIX has begun. Testing to incorporate the DATRIX Sirona acoustic and wireless device into our My-Cardia cloud-based portal has started, which will provide additional alternative remote ECG devices to our product offering, both internationally and domestically.
Received device registration and import authorization approval from the Medical Device Authority of Malaysia (384 hospital - population 32M) for the sale and distribution of our my-Cam device into that country, targeted launch in March 2021.
Entered into a Collaborative Partnership Agreement with SHENZHEN SEMACARE MEDICAL TECHNOLOGY COMPANY, LTD. in February 2021. Our two companies will provide mutual assistance pursuing regulatory approvals for our individual products. CBSC will endeavor to consult and assist SEMACARE in their efforts towards regulatory approval of the MetaCor monitoring device for CE and US FDA 510(k) registration. SEMACARE will assist CBSC in the current regulatory approval process with the NMPA in China for the my-Cam monitoring device. During the term of this agreement, mutual efforts will be made towards the joint development of products, including interoperability between SEMACARE monitoring products and CB Scientific's current and future monitoring solutions. This includes assistance by SEMACARE to help develop a wireless, waterproof patch solution for CBSC devices.
Continuing ongoing clinical trials of our my-Cam device, associated cloud-based software portal, smartphone apps, and WeChat app continue in our pursuit of NMPA (formally CFDA) device certification approval in China. Through January 2021, CBSC is in trials with our device in 40 hospitals, with more than 250,000 successful transmissions on the WeChat app. To date, we maintain a 99%+ success rating. Along with assistance from SEMACARE, we hope to move closer to the approval of the device soon.
Completing my-Cam device and software portal set-up to include regulatory and registration approval for the country of Singapore (population 5.8M), with a targeted distribution launch there in April 2021.
We are in final discussions to secure a Definitive Purchase Agreement to acquire an Independent Device Testing Facility (IDTF) in the US. With this acquisition, we would add the capabilities to immediately provide four necessary testing options, including 24-48hour Holter Monitoring, acoustic and wireless 30-day Cardiac Event monitoring, Mobile Cardiac Telemetry, and 3-21-day Extended Holter Monitoring. Remote patient monitoring is projected to grow 18% in the next five years, according to GlobalData, a leading data, and analytics company.
Read More / Source: accesswire.com/630474/CB-Scientific-Inc-Stock-Symbol-CBSC-issues-a-Shareholder-Update
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Still holding. In an ongoing effort to expand its outreach in the Ambulatory Remote Cardiac Diagnostic Monitoring Services market in the United States, is pleased to announce a definitive purchase agreement to acquire Cardiolink Corporation, a Medicare-certified Independent Diagnostic Testing Facility (IDTF) based in Levittown, New York. Cardiolink was founded in 1979 and has been providing remote heart arrhythmia monitoring and cardiac support services to the medical community regionally for forty-two years.
This acquisition will provide CBSC with the ability to formally enter the rapidly growing Remote Patient Monitoring (RPM) arena in the US, on a national basis. RPM has become a dominate growth market in the medical field since 2017, primarily due to the increasing occurrence of cardiovascular (heart) disease. Cardiolink, through their 24/7/365 operation, uses state-of-the-art cardiac equipment and software to deliver a wide variety of remote ambulatory cardiac testing services to patients. These wearable devices include Mobile Cardiac Telemetry, Cardiac Event, Extended Holter, Standard Holter and Ambulatory Blood Pressure, all monitored by an experienced staff of well-trained, expert cardiac technicians. Cardiolink also provides remote Pacemaker TTM monitoring and INR heart testing. This acquisition will make CBSC an active player in the domestic Ambulatory Remote Cardiac Diagnostic Monitoring Services market, which generated revenues of approximately US 778M in 2019, with projected future growth of 18% per year.
“Cardiolink is very excited to join the CB Scientific, Inc. team in their efforts to address the increasing demand for remote cardiac monitoring services in the U.S.”, said Robert Kammerer, President of Cardiolink Corporation in a statement. Kammerer continued, “With forty-two years of direct experience offering IDTF products and services regionally, Cardiolink looks forward to being a part of CBSC’s planned national expansion to further help impact and improve the quality of life and reduce the cost of care for the millions of patients with suspected heart disease, in the U.S.”
Charles Martin, President and CEO of CB Scientific, Inc. stated, “The acquisition of Cardiolink Corporation fits perfectly into our strategic plan and efforts to positively impact outcomes for the more than 655,000 Americans who die from heart disease in the United States every year. Cardiovascular disease is the leading cause of death in the US, killing one in every four people every year, and costing the US more than 219B annually. The addition of this well-established, proven company, along with our existing and future products and services, will help to solidify CBSC’s expanded service offering in our efforts to become a leader in the US Remote Patient Monitoring market. Timely and early detection of potential heart rhythm issues is the key to better diagnosis and improved outcomes, reducing cost and helping to improve quality of life for patients. We look forward to the positive effects that the addition Cardiolink’s IDTF operation will have for our company.”
Source: accesswire.com/631255/CB-Scientific-Inc-Announces-Definitive-Agreement-to-Acquire-Cardiolink-Corporation-an-Independent-Diagnostic-Testing-Facility-IDTF
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Still holding.CB Scientific, Inc. - CBSC CEO, Charles Martin, discusses in this podcast acquisition, Asia distribution, cardiac event monitor modalities, direction of the company, heart disease market size, milestones, revenue, purchase agreement, and market growth.
audioboom.com/posts/7807543-cb-scientific-inc-discusses-the-potential-of-their-proprietary-cardiac-event-monitor-my-cam-w
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Jeslie Chui Appointed as Director of Business Development Asia Pacific for CB Scientific, Inc.Escondido, California–(Newsfile Corp. – March 02, 2021) – CB Scientific, Inc. (OTC Pink: CBSC) (“CBSC” or the “Company”), in an ongoing effort to expand its outreach in the Ambulatory Remote Cardiac Diagnostic Monitoring products and services market globally, is pleased to announce the appointment of Jeslie Chui as Director of Business Development Asia Pacific for CB Scientific Inc. effective March 1, 2021. In this position, Mr. Chui will work to increase company recognition and awareness of CBSC and its subsidiary My-Cardia, identify and develop corporate strategies for expansion and the associated marketing platforms to support these strategies, and assist in corporate fundraising in the region. Through his various entrepreneurial roles in Hong Kong and China, Jeslie Chui has been instrumental in raising venture capital including financial advisory and business development for companies from a wide variety of industries throughout his career.
Read full release here: newsfilecorp.com/release/75775
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CB Scientific, Inc. (CBSC) Distributor Mango Wellness Comes to an Agreement to Provide Services to Three Major Hospital Chains in ThailandSuccessful introductory product trials result in an agreement by three major hospital chains to use the my-Cam device.
ESCONDIDO, CA/ ACCESSWIRE/ March 16, 2021/ CB Scientific. Inc. (OTC PINK:CBSC) (“CBSC” or the “Company”), a provider of innovative products and services for the ambulatory noninvasive cardiac monitoring space, announces today the anticipated addition of three major hospital chains to use Remote Cardiac Monitoring Services in Thailand using the proprietary my-Cam device and associated cloud-based software portal through their exclusive authorized distributor Mango Wellness Co., Ltd. (MWC).
Mango Wellness Co., Ltd., due to the successful on-site trial evaluations of our innovative my-Cam monitor and my-Cardia software portal in two regions of Thailand, has come to a formal agreement to provide Remote Cardiac Monitoring Services to three major hospital chains. Ramkhamhaeng Hospital (one of the five largest private hospital groups in Thailand consisting of 40 hospitals), Bangkok Hospital Nakon Ratchasima (one of the largest hospitals in NE Thailand), and Bangpakok9 Hospital have all agreed to offer my-Cam services through MWC to their physicians and associated patients beginning in April 2021. Mango Wellness Co., Ltd. and their subsidiary My Cardia Thailand, in further efforts to expand their product offering, continue trials of the my-Cam device, which today consist of 102 cardiologists in 42 hospitals totaling more than 1700 ambulatory remote cardiac event monitoring tests to date since the beginning of the year. As apart of these trials, MWC is also in negotiations with N Health Services, a purchasing subsidiary of Bangkok Dusit Medical Services (BDMS – one of the most prestigious hospital networks in the Asia-Pacific region), to secure a joint marketing partnership to promote MWC’s Remote Cardiac Monitoring Services to the 48 hospitals in the BDMS network in Thailand.
Read more: cbscientificinc.com/distributor-mango-wellness-comes-to-an-agreement-to-provide-services-to-three-major-hospital-chains-in-thailand/
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