SANOMEDICS INTL HLDG (OTCMKTS:SIMH) is moving up in recent days and trading huge volume. The stock is down significantly since the explosive move up last October during the Ebola penny stock spike.
SIMH has been around for years and used to trade as Niagara Mining & Development Co focused on the business of purchasing & developing mining properties before the reverse merger and name change to Sanomedics International.
SANOMEDICS INTL HLDG (OTCMKTS:SIMH) is a medical technology holding company that focuses on game changing products, services and ideas — a place where physicians, entrepreneurs, and medical companies can work together to drive innovative technologies through concept, development, and ultimately commercialization. Sanomedics plans to grow existing business organically and through strategic acquisitions specifically relating to healthcare technology and services.
It all started on October 10 after SIMH announced that the Company’s Thermomedics, Inc. division has shipped the first group of devices to Atlanta Headquarters of the Center for Disease Control (“CDC”) for immediate distribution to selected ports of entry, where touch-free temperatures are destined to identify fevers in arriving travelers from at-risk countries.
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The Company has dramatically increased production requirements to meet the escalating demand for the Caregiver, not only for the CDC needs, but in response to the growing adoption of these devices in healthcare facilities across the United States.
SIMH prodcut, the Caregiver® Thermometer is the world’s first clinical-grade device with TouchFree™ technology developed by the team that invented tympanic thermometry! Our new Caregiver® thermometer offers instant, accurate temperatures and easy-to-use features that professionals have asked for…
the Caregiver® has recently garnered national media attention after the caregiver was featured on CNN as the product the CDC is using at airports to screen for Ebola in the front lines in the fight against the deadly disease.
On May 14 SIMH announced their Thermomedics subsidiary recently strengthened its penetration of the Professional Healthcare vital signs business with the signing of a long-term agreement with HealthTrust Purchasing Group, LP, a world-renowned provider of healthcare supply chain expertise and contracting.
The 3-year agreement goes into effect July 1, 2015. The contract, via distribution partner, Kentec Medical, Inc. of Irvine, California, aligns Thermomedics’ Caregiver® TouchFree™ Clinical Thermometer with the highest member-compliance GPO in the nation.
Based in Brentwood, Tennessee, HPG serves an extremely broad and compliant membership whose Clinical Advisory Boards (comprised of expert clinicians) govern and approve all contract awards to allow for the highest compliance at the best price.
Ron Benincasa, sales VP said ”The Caregiver’s ability to perform in the high patient-volume environment of today’s healthcare venues is enhanced by the availability of the items that hospitals have demanded: convenient mounting systems, security protection, in-house biomedical calibration support, and attractive service/warranty programs. 3-year contract will ensure that HPG will be at the forefront of innovative thermometry. Distribution will be handled by the Ameritus division of Kentec Medical, Thermomedics’ supply partner.”
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Currently moving up off its $0.009 lows SIMH has $210,138 in the treasury and small but growing revenues reporting $ 677,728 in sales for 2014 up from $263,745 the year before. They also have fast rising short term debt that includes over $4 million in Convertible notes payable and Derivative liabilities. This has and will continue to lead to massive dilution as evidenced by the recent 125 for 1 RS. But SIMH does still have an investor base many of whom are long on the stock here. We will be updating on SIMH when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with SIMH.
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Disclosure: we hold no position in SIMH either long or short and we have not been compensated for this article.