TORONTO, Feb. 7 /CNW/ -Biosign Technologies Inc. (TSXV: BIO) announces
that the Health Care Division of ALQAEM International FZE has increased
their initial order for Biosign's pulse acquisition devices (UFIT® PAD)
to 500,000 USD. Biosign plans to start shipping UFIT® to the MENA
region this quarter. Under the terms of the Exclusive Master
Distributor Agreement between Biosign and ALQAEM, this initial order
should generate, once fully deployed, an annual recurring revenue for
Biosign in excess of 2 million USD.
Biosign and ALQAEM introduced the UFIT® TEN-20, earlier this year, at
Arab Health 2011 in Dubai, UAE. During that conference, Biosign and
ALQAEM demonstrated the features and benefits of the UFIT®TEN-20
non-invasive blood pressure and blood glucose monitor to prospective
resellers, customers, and government officials. The UFIT® TEN-20
generated the arterial pulse-trace, blood pressure, and blood glucose
for visitors at the show through a simple one minute session,
demonstrating the ease of use and versatility of the device.
John Rizvi, Managing Director of ALQAEM stated: "At Arab Health 2011, we
received a lot of interest from key government leaders and reseller
partners in Egypt, the UAE, Saudi Arabia, and several other MENA
countries. Biosign's UFIT® is quickly gaining attention with consumers
as well as institutional customers in this region."
Peter Tassiopoulos, CEO of Biosign, said: "MENA is a growing market and
revenue opportunity for Biosign. We are working closely with ALQAEM to
ensure that we not only meet but exceed customer expectations for our
product line as we begin to deliver our first shipments to the region."
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides biomedical systems. Key
applications include intelligent systems for noninvasive monitoring of
common health risks associated with blood pressure, glucose, and
medication. The core technology combines measurement, analysis, and
rapid knowledge formation to support health monitoring across global
markets. The UFIT® medical device technology powers quality data
collection and analytics for clinical diagnostics, self-care, wellness,
disease state evaluation & management, and remote patient monitoring.
For more information on Biosign, please visit www.biosign.com.
ALQAEM International FZE is a diversified trading and distribution
company headquartered in Sharjah, United Arab Emirates. A large portion
of ALQAEM's business is health-care focused, and the company has
supplied a number of high-tech product lines to hospitals in Dubai, Abu
Dhabi and the other United Arab Emirates. In addition, Alqaem directs
healthcare sales teams in a number of Gulf countries. In July 2010
ALQAEM was appointed the exclusive Master Distributor for Biosign
health monitoring products for 10 countries in the M.E.N.A region.
This release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words believes,
expects, anticipates, estimates, intends, plans, or similar
expressions. Forward-looking statements are not guarantees of future
performance. They involve risks, uncertainties and assumptions and
Biosign's actual results could differ materially from those
anticipated. Forward looking statements are based on the opinions and
estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. In the context of any
forward-looking information please refer to risk factors detailed in,
as well as other information contained in, Biosign's filings with
Canadian securities regulators (www.sedar.com).
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Biosign Technologies Inc.
For further information: