Company Receives Over $10 million of Telehealth and Medical Supply Contracts from Coast to Coast
NEW YORK, NY, April 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Parallax Health Sciences, Inc. (OTCQB: PRLX) (“Parallax” or the “Company”), an outcome-driven connected healthcare company, today announced that its Parallax Health Management and Parallax Diagnostics divisions have added customer accounts within the U.S. healthcare industry. Contracts from home healthcare, nursing homes, and doctors offices from multiple service areas across the United States have increased due to advancement of the strategies within both its Health Management and Diagnostics divisions catapulted by the surge in demand for its Good Health Outcomes™ telehealth platform, and the effect of the global pandemic of COVID-19’s impact on the Parallax Diagnostics business.
Nathaniel Bradley, President of Parallax Health Management, stated, “Our communities across the U.S. are grieving together as we enter this holiday weekend during this unprecedented time in our history where we have lost so many and so much is changed and challenging.” Mr. Bradley went on to say, “Here at home in New York we are focusing on what we can do to help our community and we are blessed to have patented technology developed for Telehealth, diagnostics and behavioral healthcare systems that are second to none in making a real difference in how we can use data-driven solutions to respond and learn how to better our future responses.”
“Our focus recently has been on executing our strategies for Telehealth using our Good Health Outcomes™ platform for remote patient monitoring, bringing to market our Immunoassay Diagnostics Rapid Test for COVID-19 and generating orders for diagnostic kits and personal protective equipment, (‘PPE’),” stated Paul Arena, Chief Executive Officer of Parallax Health Sciences, Inc. Mr. Arena added further, “The Company’s heritage was built around diagnostics point-of-care and patient monitoring. Our patented technology provides real value to many people who are quarantined at home as well as the true heroes, the medical care professionals who are on the frontlines daily. We are pleased to report that we have presently received over $10 million of orders for Telehealth related and Medical Supply contracts we are in the process of fulfilling and we anticipate that number to grow significantly in the coming weeks and months.”
About Parallax Diagnostics
Parallax Diagnostics is a bio-medical company and wholly owned subsidiary of Parallax Health Sciences, Inc. Parallax Diagnostics owns a line of 26 FDA approved, Point of Care diagnostic tests on a single platform in the area of infectious disease, cardiac, medical conditions, drugs of abuse, and pregnancy. Parallax Diagnostics is developing a novel, handheld diagnostic testing system that is simple, rapid and elegant, offering the potential to transform the diagnostic landscape by transitioning critical tests from the centralized lab directly to the hands of the physician or clinicians. Our focus is on tests that detect and/or monitor infectious diseases.
About Parallax Health Management
Parallax Health Management has created the World's only remote patient care technology platform with patented data driven outcomes, integrated applied behavioral analytics and true cognitive artificial intelligence. Our industry first technology solves one of largest problems through the reduction, the non-adherence to medical regimens. Medical adherence is a $500 Billion Dollar problem in the U.S. alone.
About Parallax Health Sciences
Parallax Health Sciences is a leading-edge technology, outcome-driven telehealth company that allows for cost-effective remote diagnosis, treatment and monitoring of patients through proprietary platforms of integrated products and services. The Company's interoperable novel applications provide patients point-of-care testing and monitoring with information communicated via internet-based mobile phone applications that are agnostic as to operating system and are built on highly sophisticated data analytics. Information is retrieved real-time by physicians who are monitoring patients with chronic diseases or through biometric feedback for health-related behavior modification, and is automated for integration into electronic health records. The Company's products and offerings capitalize on the digital transformation in healthcare for improved patient compliance, diagnosis and treatment, and support healthcare system cost savings and efficiencies. For more information, please visit www.parallaxhealthsciences.com or www.parallaxcare.com.
Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our Form 10-K and other reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact:
Paul Arena, CEO
paul@parallaxcare.com
cell 404-915-8449
SOURCE: Parallax Health Sciences, Inc.