Castle Placement Named Exclusive Placement Agent for Wearable Health Solutions Inc.
Wearable Health Solutions Inc. (OTC PINK:WHSI) has appointed Castle Placement as its exclusive placement agent to raise $5 million. This funding aims to support the business development and launch of the iHelp MAX™ medical monitoring device. WHSI specializes in personal medical devices, generating revenue through device sales and monitoring subscriptions. The company sees growth potential in markets across North America and internationally. The iHelp MAX offers enhanced features such as fall detection and geo-fencing, catering to the rising demand for real-time health monitoring.
- Engagement of Castle Placement to raise $5 million for iHelp MAX launch.
- iHelp MAX device features fall detection and geo-fencing, enhancing its market appeal.
- Strong revenue model based on device sales and recurring monitoring subscriptions.
- Dependence on external financing could pose risks if not secured timely.
- Potential challenges in expanding into new markets and maintaining contracts.
Castle Placement As Its Exclusive Placement Agent To Raise
NEW YORK, NY / ACCESSWIRE / October 6, 2021 / Wearable Health Solutions Inc. (OTC PINK:WHSI), a manufacturer of multiple lines of proprietary personal medical devices, tracking devices, and wearable health technology monitored and managed through its fully-developed tracking and automation platform, announced today that it has engaged Castle Placement as its exclusive placement agent to raise
Wearable Health Solutions Inc. is a personal monitoring technology developer focused on mobile alert and tracking devices for emergency medical and occupational safety markets worldwide. WHSI generates revenues from the sale of its medical alarm devices and recurring service fees based on monitoring subscription plans. In addition to the U.S. and Canada, which contribute a vast majority of the Company's business volume, WHSI has also sold its solutions across several continents, including in countries such as New Zealand, Denmark, Ireland, Brazil, Barbados, Bermuda and the People's Republic of China.
Peter Pizzino, the President of Wearable Health Solutions Inc. said: "The iHelp MAX product is the latest in mobile Personal Emergency Response Systems (mPERS), and the partnership between WHSI and Castle is designed to capitalize on the growing need for real-time location tracking, emergency alert services, and real-time wearable health remote monitoring technologies."
About Castle Placement:
Founded in 2009, Castle Placement raises equity and debt capital for private middle market companies across a broad spectrum of industries. Highly experienced investment bankers and a robust, data-driven, innovative technology platform - including artificial intelligence/machine learning - match great companies with global institutional investors. Castle Placement's proprietary app, CPGO, connects companies with investors in real time. It has over 64,500 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds, and lenders.
For more information go to https://castleplacement.com
About Wearable Health Solutions:
As a leader in the growing eHealth sector, we provide innovative wearable healthcare products, tracking services, and turn-key solutions that enable consumers to be proactive with their health, as well as safe and protected at all times. Our products and services are always state-of-the-art, innovative, and cost effective.
Our latest product, currently in development, is the iHelp MAX™. The MAX device showcases improved features and functions including fall detection and geo-fencing (the ability to pre-set an area and alert loved ones if the device user enters or leaves a pre-determined area), and will be Wi-Fi and Bluetooth enabled, supporting our entrance into the remote medical monitoring and wearable health technology sector.
The advancement of wearable technology and growing demand from consumers to take control of their own health has generated a booming market, and demand for wearables is projected to jump over the next few years as more consumers exhibit interest in sharing their wearable data with providers and insurers. WHSI is uniquely positioned to fulfill this demand.
Forward-Looking Statements
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Wearable Health Solutions and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to (i) Wearable Health Solutions ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Wearable Health Solutions ability to maintain existing, and secure additional, contracts with users of its solutions; (iii) Wearable Health Solutions ability to successfully expand in existing markets and enter new markets; (iv) Wearable Health Solutions ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Wearable Health Solutions business; (viii) changes in government licensing and regulation that may adversely affect Wearable Health Solutions business; (ix) the risk that changes in consumer behavior could adversely affect Wearable Health Solutions business; (x) Wearable Health Solutions ability to protect its intellectual property; (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent quarterly report on filed by Wearable Health Solutions with the Securities and Exchange Commission. Wearable Health Solutions anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Wearable Health Solutions assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
Wearable Health Solutions Inc.
2300 Yonge St. Suite 1600
Toronto, ONT M4P1E4
Canada
www.WearableHealthSolutions.com
855-226-4827
info@wearablehealthsolutions.com
SOURCE: Wearable Health Solutions Inc.
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FAQ
What amount is Wearable Health Solutions raising for the iHelp MAX device?
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