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xG Technology Inc. (XGT)

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Monday 18 February, 2013

xG Technology Inc.

Telemedicine-MM Systems Reseller Agreement

RNS Number : 0520Y
xG Technology Inc.
18 February 2013
 



 

February 18, 2013

xG Technology, Inc.

("xG", "xG Technology" or the "Company")


xG Technology receives $2,500,000 purchase commitment for xMax broadband

network equipment from Telemedicine-MM Systems

 

xG® Technology, the developer of a portfolio of wireless communications technologies, including cognitive radio networks, is pleased to announce that it has entered into a reseller agreement with Telemedicine-MM Systems ("Telemedicine-MM"), a New York-based health care systems integrator, under which Telemedicine-MM agrees to purchase a minimum of $2,500,000 of xMax network equipment through the term of the agreement to March 31, 2015. Telemedicine-MM will deploy xMax wireless voice and broadband services focusing on telemedicine/telehealth, medevac, and related applications throughout CARICOM, the community of 15 nations and dependencies located in the Caribbean.

 

"The growth of telemedicine is accelerating globally as a way to control health care costs and provide specialty services to patients in remote locations," said Rod Francis, CEO and founder of Telemedicine-MM Systems. "The xMax system offers us a low cost, high-bandwidth solution that is easy to deploy in the challenging geographies we operate in. The fact that we can operate a carrier grade system in freely available and zero-cost unlicensed spectrum just about anywhere in the Americas helps us provide economical wireless Internet-based solutions to our customers."

 

This agreement brings the total announced backlog of orders and reseller agreements for xMax equipment and services to over $33.1 million, and expands the growing market traction that xG's technology is experiencing into healthcare and telemedicine applications. Previous announcements have highlighted agreements for deploying xMax in a wide range of industries and applications, including rural telecom, public safety, education, utilities, local government, gaming and casinos, hospitality, transportation and logistics, manufacturing, and healthcare.

 

"We are excited to see our technology supporting the delivery of vital health services," said Chris Whiteley, Vice President of Business Development for xG Technology. "This partnership with Telemedicine-MM not only expands the application of our technology, but also represents international demand for cognitive radio solutions to real-world problems."

 

Under the terms of the order, xG will be paid upon the delivery of FCC certified xMax equipment to Telemedicine-MM Systems, which is expected to commence in the second half of 2013.

 

END

Contacts

xG Technology, Inc.

www.xgtechnology.com

John Coleman, Chief Executive Officer

+1 212 651 4219

Roger Branton, Chief Financial Officer

+1 212 651 4219

James Woodyatt, Investor Relations

+1 954 572 0395



Allenby Capital Limited 

www.allenbycapital.com

(Nominated Adviser and Joint Broker)

+44 20 3328 5656

Nick Naylor

+44 20 3328 5656

Mark Connelly




First Columbus LLP (Joint Broker)

www.first-columbus.com

Chris Crawford

+44 20 3002 2073



Fusion PR (Media and Analyst Relations)

www.fusionpr.com

David Worthington

+1 212 651 4200

 

ABOUT xG TECHNOLOGY

xG Technology is a leading developer of innovative and disruptive communications technologies for wireless networks. Its patented intellectual property portfolio covers a broad range of applications, including smart wireless networks that can help address the global wireless spectrum crisis through advanced technology. xG is commercializing some of these technologies to create xMax, the world's first carrier-class cognitive (i.e. smart) radio network. The Company's technology provides ways to significantly increase the efficient use of spectrum, allowing network operators to offload existing voice or data traffic, reduce dropped calls, and enhance network capacity for their customers. xMax's standards-based IP architecture minimizes network deployment, management and operational costs while simplifying the delivery of high quality fixed and mobile voice and data services. xMax can enhance and extend any wireless network, and provides an economical last mile solution for hard to reach customers and devices. Using field-proven technology, xMax enables the delivery of mobile broadband services to consumers, agencies and enterprises worldwide in both licensed and free unlicensed bands. Based in the USA, xG has over 60 US and more than 140 international patents and pending patent applications. xG's intellectual property is available for licensing in domestic and international markets. For more information, please visit www.xgtechnology.com.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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