SANOMEDICS INTL HLDG (OTCMKTS:SIMH) has fallen to triple zero land in recent months. The stock popped last year to highs near $0.01 on significant promotion that was fueled by a number of online newsletters. SIMH has been dormant for months since spiking last October on the Ebola frenzy.
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.
SIMH last run started after the Company announced their 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.
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.
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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.
Earlier this year 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.”
On January 14 SIMH announced as of its last 2015 quarterly report for the period ended September 30, 2015 through January 11, 2016, it has reduced its convertible debt by approximately $550,000 or 20% and follow its plans to further strengthen its balance sheet.
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Currently drifting back into oblivion SIMH has minimal assets or revenues and is quickly developing a debt problem which has and will continue to lead to dilution. At the same time SIMH is an exciting story developing in small caps; the Company has developed the Caregiver® Thermometer is the world’s first clinical-grade device with TouchFree™ technology that offers instant, accurate temperatures and easy-to-use features. The stock also has a history of explosive short term pops and speculators are looking for another one 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.