AmbiCom Holdings, Inc. (OTCQB: ABHI), a leading designer and developer of innovative wireless products for the medical automotive verticals, and a distributor of innovative healthcare products that has sold more than one million devices worldwide, jumped more than 200% over the past few months, from $0.10 in September 2013 to around $0.30 in January 2014.
This week, the company also announced a new $500,000 order for its WL-54CF wireless cards from a major medical device manufacturer for use in its glucose meters. Management has capitalized on the medical industry’s move towards wireless solutions with its legacy CompactFlash cards and new SDIO cards and specialty modules.
Investors in the medical device industry, including companies like Medtronic Inc. (NYSE: MDT) or Stryker Corporation (NYSE: SYK), may want to take a closer look at this unique play on a growing niche within the larger industry.
Read the full press release covering the new order here:
AmbiCom Holdings, Inc. (OTCQB: ABHI), a leading designer and developer of innovative wireless products for the medical and automotive verticals, and a distributor of innovative healthcare products that has sold more than one million devices worldwide, today announced a new $500,000 order for its WL-54CF wireless cards from a major medical device manufacturer for use in its glucose meters.
“We’re excited to announce a new $500,000 order from an established medical device manufacturer that has already ordered around $4 million worth of products over the past five years,” said AmbiCom Holdings Inc. CEO John Hwang. “As the medical device industry moves towards wireless solutions, we are well positioned with both our legacy CompactFlash cards and new SDIO cards and specialty modules that offer improved data transfer rates and lower power usage which is particularly important for mobile devices.”
The global medical device industry is projected to reach $302 billion in size by 2017, with a compounded annual growth rate (“CAGR”) of 6.1% between 2011 and 2017, according to Research and Markets. Transparency Market Research estimates that the connectivity portion of this market will reach $33.5 billion by 2019 with a CAGR of 37.8%. Wireless technologies play an important role in this market by improving patient care and lowering systemic costs.
About AmbiCom Holdings, Inc.
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on Wi-Fi and Bluetooth® applications for the wireless medical, healthcare and automotive industries. AmbiCom purchases standard wireless products and designs and develops features and packaging to customize these products to its target OEM markets, including a new SDIO card to be sold to its OEM customers. AmbiCom believes there are unique opportunities as a result of the sheer size of the wireless healthcare market and the Company’s innovative approach and exemplary customer services. AmbiCom also designs and develops wireless home medical devices for non-health care applications for the retail market, including solar ionic toothbrushes that in general utilize light to activate an ionic process to remove plaque. The Company also expects to continue to expand on its non-recurring engineering projects. For more information, visit www.ambicom.com.
This press release contains “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. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one of more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.