LOS ANGELES, Sept. 15, 2011 (GLOBE NEWSWIRE) -- MediSwipe Inc. (http://www.MediSwipe.com) (OTCBB:MWIP), a merchant payment solutions and financial products company for the medical health care industry and its wholly owned subsidiary 800 Commerce Inc. (www.800Commerce.com), a leading enabler and turnkey e-commerce solution provider including mobile payment solutions, today announced that the company expects to file its S-1 registration statement for the proposed spin-off of its subsidiary 800 Commerce by September 30, 2011. Each shareholder of MediSwipe will receive a pro rata share or dividend of 800 Commerce Inc. upon the effective S-1 filing and dividend date to be set by FINRA within the near future. "With the goal in mind of continually increasing shareholder value, we believe the 800 Commerce brand and business model is a company that can stand alone, and can become a recognized brand for small business and e-commerce solutions providing merchant processing, social media applications and mobile payment solutions. 800 Commerce will provide only those shareholders of MediSwipe of record date, to take part in the continued growth and success of MediSwipe as we move forward on the health care financial solutions side, and at the same time, receive a dividend and pro rata share in 800 Commerce as a second trading opportunity within the e-commerce and social media space," stated B. Michael Friedman, CEO of MediSwipe Inc.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and e-commerce businesses specializing within the healthcare sector.
