Medical Alarm Concepts revises terms, extends maturity of convertibles

Company gets more funds from current, new investors for infomercials

By Devika Patel

Knoxville, Tenn., Oct. 18 - Medical Alarm Concepts Holding, Inc. said it completed the process of renegotiating the terms of its convertible debentures in order to allow for more favorable terms.

The new terms include an extension of the maturity date and a limited moratorium on conversions. The company has also received additional equity investments and a commitment for additional funds from several of its current debt holders as well as from several new investors.

Proceeds will be used to finance the company's upcoming infomercial campaign, which is expected to begin by the end of October.

"We are very excited about our future ability to market our vastly superior product offering into the personal medical alarm segment," chief executive officer Howard Teicher said in a press release. "Several of the institutional investors that provided Medical Alarm Concepts with our initial funding have expressed their confidence in us by providing additional funds and extending the terms of the existing notes.

"We have also been able to attract a considerable amount of new capital into the company. The timing of these new investments was optimal as we are quickly approaching the launch of an aggressive advertising campaign in conjunction with YesDTC and Schulberg Media Works, two firms with growing influence in the direct response television industry. We want to take this opportunity to thank both our initial group of investors for providing this new level of financing, and the many new equity investors who share our excitement about our upcoming direct response television campaign," Teicher said.

The Plymouth Meeting, Pa., company develops and manufactures medical alarm system products.

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