In addition, the agreement will include licensing for a remote cardiac monitoring CardioComm Solutions ECG SDK viewer license, under which CardioComm Solutions’ ECG SDK software is being utilized.

CardioComm Solutions CEO Etienne Grima said through experience with working with clients such as Philips, CardioComm Solutions is able to provide innovations that support the business and medical care challenges associated with the growing ECG monitoring markets.

"This agreement demonstrates our ongoing commitment to developing solutions to serve these markets," Grima said.

The Netherland-based Royal Philips Electronics is a diversified health and well-being company, while CardioComm is technology provider for recording, viewing, analyzing and storing ECGs for diagnosis and management of cardiac patients.