Diversinet: $1.63M Q3 mobile health revenues

By Brian Dolan
11:09 am

mCare AllOne Mobile appMobile security solutions provider Diversinet recently released its third quarter financial statements and once again the company announced more than $1.63 million in revenues from its licensing and revenue sharing agreement with wireless health service provider AllOne Health. Diversinet has been working with AllOne since the third quarter of 2008.

Diversinet's technology secures "the personal identity, transactions and data of consumers" over many of the mobile phone platforms in the market today. AllOne Health's mobile offering, AllOne Mobile is used in a pilot underway with the U.S. Army. AllOne also recently inked deals with Significa Insurance Group (Significa) and Erin Group Administrators (EGA). Significa and EGA members can now securely view, manage and exchange their health care information with physicians, hospitals, pharmacies and other health care providers anytime and anywhere, so long as they have their mobile device handy.

Diversinet's overall revenues for the third quarter of 2009 increased 9 percent to $1,949,000, up from $1,784,000 in Q3 2008. The Q3 2009 revenues include $1,625,000 from its agreement with AllOne Mobile, according to the company's press release.

Diversinet's investor, Blue Cross of Northeastern Pennsylvania (BCNEPA), also announced the retirement of William Reed, who also served on Diversinet's board of directors. BCNEPA has appointed William Farrell, SVP Finance and Enterprise CFO, as a board member of Diversinet, effective October 29, 2009. Reed is currently the CEO of AllOne Health.

For more, read Diversinet's Q3 press release here.

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