OREM, Utah, Oct. 8, 2013 (GLOBE NEWSWIRE) -- ActiveCare, Inc. (OTCBB:ACAR), a leader in diabetes management wellness services, today announced plans to focus on profitability and position the Company for up-listing to a national exchange in the coming year. In order to reach profitability, Michael Acton, Chief Financial Officer for ActiveCare, presented his blueprint for a reduction in Selling, General and Administrative (SG&A) expenditures for the coming year at the company's quarterly management meeting held on September 26, 2013. With minor alterations, the plan was accepted by management and will be put into effect during the next 90 days.
During the fiscal year ended September 30, 2013, the number of members under care grew from 6,000 to more than 30,000 lives, an increase of more than 400%. Correspondingly, the Company expects to continue increasing its membership in the coming quarters. To accommodate this growth, the company recently consolidated its office locations and moved into their new state-of–the-art CareCenter, headquartered in Orem, Utah. ActiveCare now has its Executives, Sales & Marketing, IT, and care staff in one facility.
"We've implemented these necessary changes to continue driving the company toward profitability and believe these actions will position the company for maximum operating leverage as our business continues to grow," stated David Derrick, Chairman and Chief Executive Officer. "As we strengthen our balance sheet, we are well-positioned to embark on another record year. With the recently announced debt conversions and capital investments, we have greatly reduced our monthly debt service and improved stockholders' equity. Equally important, we continue to lower our cash burn and expect to further increase stockholders' equity as we prepare the Company to apply for listing on a national exchange in 2014."
ActiveCare, Inc. (OTCBB:ACAR) is the only technology and service provider delivering proprietary real-time monitoring and intervention specifically for the diabetic community. ActiveCare's patented unique processes utilize leading edge medical devices to report, gather and use data to better assist its more than 30,000 members to take charge of improving their health. ActiveCare's one-of–a-kind CareCenter operates 24 hours a day, seven days a week, 365 days a year. Its highly trained staff, known as CareSpecialists, consists of Registered Nurses and National Academy of Emergency Medical Dispatch certified personnel. This "Human Touch" plays a crucial role in proactively engaging non-testers, establishing goals, and modifying behaviors of the chronically ill by monitoring member's biometric data, such as blood glucose, and intervening immediately when necessary. ActiveCare's patented predictive informatics solution increases compliance, improves outcomes and lowers costs in a market that consists of approximately 8% of the U.S. population yet is costing more than $1 out of every $5 spent on health care today. ActiveCare provides a unique technology and monitoring service through third party administrators and insurance providers. Claims for supplies and services are paid through the health plans with no increase in premiums to the end user. The office of Group Benefits of Louisiana, Gilsbar, Caprock, RxBenefits, Colorado Choice and Southern Benefits Services are a few of ActiveCare's customers currently under contract. ActiveCare is headquartered in Orem, Utah, and is publicly traded on the OTC market under symbol ACAR. To learn more about ActiveCare, Inc., visit the website at www.activecare.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including global economic conditions generally, the governmental regulation of our products, manufacturing and marketing risks, adverse publicity risks, and risks associated with our international expansion. Forward-looking statements in this press release include, without limitation, the statements regarding anticipated revenues, improvements to balance sheet and stockholders' equity, and increased member counts to approximately 150,000 by calendar year-end 2014, as well as the statements regarding dramatic growth and continued growth in the future. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission.
CONTACT: Investor Contact: Adam Holdsworth, Managing Director ProActive Capital Group, LLC (646)-862-4607 Media Contact: Sandra Lee, Managing Director ProActive Capital Group, LLC (646)-862-4608