MIAMI, Oct. 6, 2014 (GLOBE NEWSWIRE) -- Sanomedics International Holdings, Inc. (OTCQB:SIMH); "Sanomedics" a medical technology holding company that focuses on providing game changing products, services and ideas, announced today that it has reduced its liabilities by 8% and strengthened its balance sheet following the restructure of $1 Million, plus interest, in debt owed to TCA Global Credit Master Fund LP ("TCA").
The restructure of its TCA debt in the amount $1 Million, plus interest, was announced in a press release and a Form 8-K filed with the Securities and Exchange Commission on September 29, 2014. Post restructure, the Company reduced its liabilities by $126,000.
Keith Houlihan, President of Sanomedics, commented, "Our plans to build a solid foundation and strengthen the value of this company and its balance sheet, while garnering financial flexibility have not wavered in the slightest. Rather, they have been re-energized with this modest, but significant improvement in our liabilities. We remain committed to putting this company on the right path to long term growth and appreciation for benefit of not only Sanomedics and our shareholders, but also those in the healthcare industry that need innovative solutions to meet the patient care and safety demands that come with our growing and aging population."
About Sanomedics International Holdings, Inc.
Sanomedics International Holdings, Inc. (OTCQB: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.
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Forward Looking Statements
This press release may contain statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the intent, belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties (for example, the risk that the acquisition is not consummated), and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The Company's periodic filings with the Securities and Exchange Commission should be viewed for a complete understanding of risk and uncertainty.