Cytta Corp. (OTCQB: CYCA) is pleased to announce that ViTel Net (www.vitelnet.com) and Cytta have entered into an initial Agreement to merge all or a portion of their companies. The Agreement envisages the integration of their respective leading edge network connectivity, medical monitoring technologies and significant industry expertise. Documents and technologies are currently being reviewed and integrated solutions being developed. The legal form of the transaction along with amount and form of consideration is being negotiated in meetings between the parties.
"We are well on the way to combining the unique healthcare functionality of Cytta's proprietary smarter smartphones and remote data & voice network, with ViTel Net's sophisticated monitoring, image processing and MedVizer Informatics Integration Platform. This technological combination offers the health and wellness industry an unbeatable solution to health monitoring and management anywhere, anytime," stated Erik Stephansen, Cytta Corp. President.
Utilizing Cytta's open source cellular and satellite networks to provide connectivity solutions for world class remote monitoring technologies in multiple industries is a crucial tenant of Cytta's go forward strategy. ViTel Net's has been concentrating its developmental skills in creating healthcare models for commercial and government clients. ViTel Net's leading edge imaging and health data technologies creates a significant opportunity for Cytta to introduce our leading edge connectivity solutions and capabilities and to offer a unique world class product to an already developed client base.
ViTel Net has a long and successful track record and has built a distinguished reputation in the telehealth field. Its MedVizer™ Informatics Integration Platform (MIIP) makes ViTel Net's EMR display solutions the most adaptable in the telehealth industry. MedVizer allows for easy & quick configurations to match each client's workflow that seamlessly integrates data from multiple sources. Adding Cytta's specially configured smartphones and tablets, connectivity and anywhere, anytime data movement capabilities, will significantly expand the reach and capability of ViTel Net's products.
Our health division is focused on working closely with ViTel Net on mobile health challenges and we relish the opportunity to provide our unique data & voice highway to one of the pioneers of telemedicine and telemedicine technology. "I'm really excited by ViTel Net's ideas since they have over 20 years in developing the larger telemedicine space we all inhabit today," confirmed Mr. Stephansen and added, "so it was natural to create a combined healthcare solution that streamlines health care and provides greater access to critical patient information at significantly less cost and effort."
About: Cytta Connect:
Cytta Connect is a Remote Data Capture highway connecting Bluetooth devices seamlessly to proprietary mobile devices and utilizing its mobile network to online Electronic Biometric Records (EBR) or any other Electronic Data Depository (EDD) and from there to our client's locations in real time. Our remote data capture system works over our Special Purpose Network, a proprietary Global Mobile, Satellite, and Wi-Fi open source network. The Cloud-based data repository is automatically connected to all Bluetooth medical, wellness and all any other monitoring devices through our specially programmed unlocked Cytta smartphones. Our open source EBR is for use by patients, doctors, caregivers, and health insurers and our EDD is utilized as an online data repository in all other industries.
About ViTel Net
Since the early 1990s, ViTel Net has pioneered the development of high quality, adaptable telehealth technologies that allow clinicians to remotely treat and manage patient health regardless of geographic and time barriers. Through its unique technologies, ViTel Net offers a broad range of standard and configurable telehealth solutions for use in remote consultation, diagnosis and monitoring as well as remote care delivery. ViTel Net's mission is built on breaking down telehealth barriers to allow patient treatment and health management in a variety of real-time scenarios. As telemedicine becomes a more widespread -- and expected -- alternative for receiving healthcare services, our vision supplies users with the telehealth solutions of tomorrow, today.
Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company's Form 10-K for the year ended September 30, 2012, and other subsequent Securities and Exchange Commission filings. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward looking statements, whether as a result of future events, new information, or otherwise.
CONTACTS:
Mr. Stuart Brame
VP Corp Information
Direct 780-833-4673
Office 702 307 1680
Website: www.Cytta.com
Investor and Public Relations Contact:
Jens Dalsgaard
EraStar, Inc.
(702) 480-9800
SOURCE: Cytta Corp.
Associated Documentation:
Link to submission on http://www.eteligis.com
CYCA_3-14-2014_PAP_ETL.docx
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