Parallax Brings Current Its Financial Reporting To Become 1934 Act Compliant
SANTA MONICA, CA and NEW YORK, NY / ACCESSWIRE / October 2, 2018 / Parallax Health Sciences, Inc. (OTC PINK: PRLX) ('Parallax'), a technology-driven connected healthcare company, today announced that it has partnered with Pareteum Corporation (TEUM) ('Pareteum') to extend its remote healthcare offerings portfolio. The innovative strategy, which derives from the integration of Parallax and Pareteum's mobile platform technologies, will result in the establishment of Parallax Communications ('PCOM') as the first remote patient care mobile virtual network operator ('MVNO').
PCOM's direct-to-consumer strategy will be hosted on Pareteum's mobile network that provides connectivity and compatibility between Parallax's patented connected health platform and all leading wearables manufacturers, all makes and models of smartphones, and the Internet of things ('IoT') devices. The platform will be centered around Parallax's FotoDigm® machine face recognition and data extraction technology, which will be bundled with Parallax's patented and game-changing Intrinsic Code™ behavioral data-driven outcomes technology.
'Parallax is focusing its technologies to impact Chronic Disease Management and other aspects of healthcare that can benefit from remote patient care solutions, by integrating the best of mobile technology, connectivity and devices with our patented software platform,' stated Paul Arena, Chief Executive Officer of Parallax Health Sciences, Inc. 'As the first MVNO to provide end-to-end connected healthcare through our partnership with Pareteum Corporation, using AT&T's vast network, we have secured a major distribution and technological advantage. It's about combining scalable and globally accessible communications capabilities with connected healthcare intelligence to empower patients, improve the quality of healthcare and drive down the costs of providing such care. We are standing on the threshold of a global wellness revolution that should significantly benefit from the integration of our present and future patented technologies with Pareteum's world-class support capabilities,' Mr. Arena concluded.
'By partnering with Pareteum Corporation through its SuperAPI application programming interface and integrated portal, our connected health offerings will be able to interact with patients and their IoT devices on a global scale,' commented Nathaniel Bradley, Parallax's Chief Technology Officer. 'The portal will provide connectivity in more than 75 countries, and Pareteum's self-service SuperAPI will allow us to deliver unique connected care solutions to all of our healthcare customers. We are currently integrating the infrastructure and onboarding of patient populations onto our secure data management platform, which will allow us to remotely deliver immunoassay diagnostics testing and other proprietary services in a highly efficient manner.'
Pareteum's secure and user-friendly communications capabilities can allow Parallax to securely manage massive volumes of data, while facilitating real-time access and monitoring for every Internet-connected device. Integration with Parallax's FotoDigm data capture and data-driven outcomes architecture will be begin market testing mid-fourth quarter of 2018 with the broader customer launch during the first quarter of 2019 and will feature both direct-to-consumer and enterprise offerings, along with platform access for physicians, hospitals, certified nursing personnel and other medical delivery facilities.
"It's exciting to be part of a "first' in the healthcare IT space by joining forces with Parallax,' noted Rob Mumby, Chief Revenue Officer of Pareteum. 'Given the predicted growth in IoT devices and the explosion in total volume of data management requirements in the healthcare industry, Parallax will be well-equipped to manage and analyze information efficiently with Pareteum's seamless platform solution and SuperAPI capability.'
Pareteum's Executive Chairman and Principal Executive Officer Hal Turner commented, "We are pleased that Parallax has chosen Pareteum's global network connectivity and mobile enablement capabilities. Together we are breaking new ground in the healthcare technology space, providing a singular solution that will empower customers around the world.'
Parallax Health Services also today announced that it has regained full compliance with 1934 Securities and Exchange ('SEC') reporting requirements via the filing of its Form 10-Q report for the six months ended June 30, 2018.
About Pareteum Corporation:
Pareteum Corporation (TEUM) is a rapidly growing Global Software Defined Cloud company with a mission to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through Pareteum's Global Software Defined Cloud and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. The Company's Cloud platform partners (technologies integrated into its cloud) include: HPE, IBM, Ribbon Communications (Sonus+GenBand), NetNumber, Oracle, Microsoft, and other world-class technology providers. All of the relevant customer-acquired value is derived from Pareteum's leading Global Software Defined Cloud, which delivers award-winning mobile enablement, regardless of the user's location or network dynamics. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain, Singapore, and the Netherlands.
For more information please visit: www.pareteum.com.
About Parallax Health Sciences
Parallax Health Sciences (OTC PINK: PRLX) is an advanced, technology-driven connected health company that allows for cost-effective remote diagnosis, treatment and monitoring of patients through proprietary integrated products and services platforms. The Company's interoperable novel applications provide point-of-care patient testing and monitoring, with information communicated via cloud-based mobile smartphone applications that are agnostic as to operating systems and are built on highly sophisticated data analytics. Information is retrieved on a real-time basis by physicians and other healthcare professionals that monitor 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 of healthcare to provide improved patient compliance, diagnosis, monitoring, and support, along with healthcare system cost savings and efficiencies.
For more information, please visit www.parallaxhealthsciences.com.
Forward Looking Statements
This release includes forward-looking statements contained within 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 Parallax's 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 Parallax's 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 Parallax's Form 10-K and other report filings with the SEC. Parallax is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
LHA Investor Relations
Jody Cain - jcain@lhai.com
Kevin McCabe - kmccabe@lhai.com
310-691-7100
Pareteum Corporation
Amy Love, Chief Marketing Officer
amy.love@pareteum.com
803-917-1967
SOURCE: Parallax Health Sciences, Inc.
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