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Press Release

Parallax's Behavioral Health Unit Acquires Proprietary Patent Pending Outcome Optimization Software

Parallax Medical,Inc.
Posted on: 21 Sep 17
Parallax's Behavioral Health Unit Acquires Proprietary Patent Pending Outcome Optimization Software

PR Newswire

SANTA MONICA, Calif., Sept. 21, 2017

SANTA MONICA, Calif., Sept. 21, 2017 /PRNewswire/ -- Parallax Health Sciences, Inc. ("Parallax" or the "Company") (PRLX), and its wholly-owned subsidiary Parallax Behavioral Health, Inc. ("Parallax Behavioral Health"), the owner of RoxSan Pharmacy, Inc. and emerging leader in Remote Patient monitoring technology, today announced that it has acquired all of the assets of ProEventa, Inc., a company developed by the Grafton Integrated Health Network of Virginia, including an industry first and proven Goal Mastery Platform known as REBOOT. Reliable Evidenced Based Outcomes Optimization Technologies (R.E.B.O.O.T.) is a technology platform specifically designed to Improve Health Treatment Outcomes using Proprietary Behavioral technology systems.

Nathan Bradley, Chief Technology Officer at Parallax Behavior said, "Technology has opened a new frontier in mental health support and data collection. Mobile devices like cell phones, smartphones, and tablets are giving the public, doctors, and researchers new ways to access help, monitor progress, and increase understanding of mental wellbeing." Mr. Bradley added, "the problem is that technology is a delivery vehicle and what we see lacking in the marketplace was software that provided improved outcome capabilities.  Especially in today's environment where outcome is becoming as important as the treatment itself, and this is the reason we decided to acquire a data outcome optimization software platform as opposed to developing it in house at Parallax Behavioral Health."

Bradley further stated that "we have acquired all of the Intellectual Property and Patent pending technology, developed by an affiliate of Winchester Virginia based Grafton Integrated Health Network, after over 25 years of efficacy and study combined with a $3.75 million-dollar investment in a Patent Pending technology platform called Reliable Evidenced Based Outcomes Optimization Technologies or (R.E.B.O.O.T.)."

R.E.B.O.O.T. is designed to enable its users and user groups to more effectively achieve goals within a prescribed timeline. Through a proprietary Behavioral Health intelligence engine R.E.B.O.O.T. powers decision support that can also be delivered securely to any Internet connected device. The software can be used by an individual or an organization of any size. Grafton, a private, nonprofit organization that provides services to people overcoming emotional, behavioral and/or developmental challenges, developed the technology to assist in changing the behavior of users and groups to obtain a goal.

Users of R.E.B.O.O.T. will be able to quickly update observed information, along with successes and setbacks, to influence future decisions dealing with an individual's progress towards established goals. Doctors and specialists working with patients, or teachers working with students, can also access the information, all from their smartphones, tablets or any other internet-connected devices.

"The commercial readiness of R.E.B.O.O.T. enables, and serves to advance our prescribed business plan," observed Nathaniel Bradley, Chief Technology Officer of Parallax Behavioral Health, Inc.

About Parallax Health Sciences, Inc. 

Parallax Health Sciences, Inc. is an innovative biomedical healthcare company delivering consumer-centric products and services in the areas of pharmaceuticals, digital health and remote patient monitoring, behavioral health and point of care diagnostics.

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.

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SOURCE Parallax Medical, Inc.

PR Newswire

Last updated on: 21/09/2017

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