xG Technology Announces $400,000 Order for xMax Telemedicine Network Hardware, Software and Service Bundles for Deployment in Asia Pacific
Order Covers Systems for Initial Site Installations in New Remote Digital Health Communities
Sarasota, Florida / CRWEPRESSRELEASE / November 23, 2015 - xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications in challenging operating environments, announces that it has received an order of approximately $400,000 for integrated xMax Telemedicine Network Solution (“xMax TMN”) bundles which will be deployed in Asia Pacific. The order is for the initial pilot of two digital health communities being constructed in extremely remote areas. Based on the current implementation plan, it is expected that the eventual rollout will include over 50 xMax systems.
Each community site installation will include one xMax TMN bundle, which is a fully patient-focused system anchored by the xMax mobile broadband platform. They are comprised of broadband wireless networking equipment incorporating high-performance access points, fixed and mobile hotspot units (capable of supporting IP-based telemedicine devices), mobile control switching centers, integrated field and clinical patient examination hardware, patient-clinician software, and related services.
The order was received from xG partner Mytec who will oversee onsite building, structural and system integration, as well as coordination of support and training in host country sites.
This order represents the latest announcement made by xG Technology concerning new business initiatives in the telemedicine market. On July 1, 2015, the Company received an order for xMax mobile broadband equipment to be deployed in the Caribbean in support of applications including telemedicine and telehealth. On Nov. 10, 2015, xG announced a partnership with GlobalMed, the leading provider of integrated telemedicine solutions, to market health delivery systems that incorporate xG mobile broadband technology.
xMax TMN facilitates the immediate and reliable transmission of critical health information, multimedia medical applications, and lifesaving services to locations that are difficult to reach or have limited communications options available. It consists of a rapidly-deployable, easy-to-install, turnkey mobile network solution that provides a secure, two-way telemedicine communications infrastructure.
Tim Moynihan, Vice President of Sales for xG Technology, said, “This order is a significant win for xG, as it underscores the impact its technology can make in linking developing and developed countries through the provision of advanced medical care. The ability of xMax to be successfully deployed in remote and underserved locations overcomes the limitations of traditional wireless technologies. Its support for secure, reliable connectivity is an essential component of effective telemedicine solutions, and shows that xMax can play a vital role in the delivery of accessible, effective, and highly localized patient care.”
About xG Technology, Inc.
Founded in 2002, xG Technology has created a broad portfolio of intellectual property that makes wireless networks more intelligent, accessible, affordable and reliable. The company is the developer of xMax, a patented all-IP cognitive radio network system that enables secure, robust mobile broadband communications for private, consumer and government networks. xMax can solve the crisis facing the wireless industry caused by data-hungry devices and applications that are straining network capacity. It eliminates the need to acquire scarce and expensive licensed spectrum, thus lowering the total cost of ownership for wireless broadband access.
The xMax system delivers always-available voice, video and data services to both fixed and mobile users, and is interoperable with existing cellular and dedicated networks without being dependent on them. xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xG offers solutions for numerous industries worldwide, including emergency response and public safety, military, urban and rural wireless broadband, utilities, and critical infrastructure.
Based in Sarasota, Florida, xG has over 50 U.S. and over 100 international patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market where xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. For more information, please visit www.xgtechnology.com.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to xG Technology, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
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Source: xG Technology, Inc.