TORONTO, July 2 /CNW/ - Biosign Technologies Inc. (CNSX: BIO) today announced the signing of an exclusive Master Distribution Agreement with Swiss-based DynamiCARE AG to distribute the Biosign products in Switzerland, Germany, France, and Austria, with an option to expand distribution throughout Europe. Under the terms of the agreement, DynamiCARE will pay an initial fee of $2.5 million, with a commitment to achieve sales in excess of $100 million in 2011.
The initial fee is payable upon UFIT(R) TEN-20 satisfying a market pilot by the end of October 2010. The pilot will create immediate marketing opportunities in selected markets while surveying key factors influencing distribution and deployment decisions, such as support for high-volume usage, multiple languages, and 'test-drives' by customers.
Biosign is set to deliver its products and services with Dell and Dell Services on a global basis. Dell has been ranked first in customer service and is arguably the largest healthcare IT company in the world, making them a logical choice for our European product launch.
Patrick Dressel, President of DynamiCARE stated: "DynamiCARE focuses on providing innovative solutions to diabetics. The UFIT(R) platform is the next evolution of testing and diagnostics for personal medicine, promising a momentous impact on diabetes monitoring in terms of cost, comfort, and convenience. Our sales target reflects this promise."
UFIT(R) TEN-20 is an online medical device for self-monitoring of blood pressure and blood glucose. The device takes the pulse at the wrist through an inflatable cuff and gives blood pressure and blood glucose measurement results. All measurements are indirect, noninvasive, and passive. The results are stored on Biosign servers along with the test sample.
Radu Leca, President of Biosign noted: "Europe represents one third of the global market. It outpaces the world in providing the best overall health care, with France, Austria, Switzerland, and Germany as recognized global leaders. We are pleased with the opportunity of using the cradle of modern medicine to launch our radically unique product. In face of the magnitude of the task, we will proceed prudently, harnessing DynamiCARE's presence in the diabetes market and leveraging their channel partners to ensure a successful launch."
About Biosign Technologies Inc.
Biosign Technologies Inc. (CNSX: 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(R) 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.
About DynamiCARE AG
DynamiCARE is a dynamic company with its head office in Switzerland. The emphasis of the company is in the supply of products to humans with diabetes. The credo of DynamiCARE is to assure that people have access to affordable, high quality and reliable diabetes care. Products include blood sugar measuring instruments, insulin pen & needles, lancing devices, and innovative products for wound management with nascent oxygen. For more information on DynamiCARE please visit www.dynamicare.ch
About Dell Inc.
Dell Inc. (NASDAQ: DELL) listens to customers and delivers worldwide innovative technology and business solutions they trust and value. Dell Services develops and delivers a comprehensive suite of services and solutions in applications, business process, consulting, infrastructure and support to help customers succeed.
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SOURCE Biosign Technologies Inc.
For further information: For further information: Radu Leca, President & CEO, Biosign Technologies Inc., Phone: (416) 218-9800 ext. 234, Email: firstname.lastname@example.org