UFIT(R) Health Monitoring System to be available in 2010 in the US market
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TORONTO, Dec. 23 /CNW/ - Biosign Technologies Inc. (CNSX: BIO) ("Biosign" or the "Company"), R. M. Kaul & Associates Inc., and EHR Empowerment Consortium LLC today announced they have entered into a Memorandum of Understanding (MOU) to negotiate an exclusive Master Distribution Agreement to distribute Biosign products in the USA through Cloud Diagnostics.
Cloud Diagnostics is a joint venture between R. M. Kaul & Associates Inc of Vancouver, BC and EHR Empowerment Consortium LLC of New York, NY, and is uniquely positioned to successfully introduce Biosign's revolutionary pulse-wave based diagnostic products and service to multiple market segments in the US. The founders of the joint venture have over 90 years of accumulated experience in launching and marketing new life safety and bio-medical products, and are backed by an extensive team of industry experts.
"The United States is a crucial market for the growth of Biosign, and in keeping with our Channel Strategy, it is critical that we pick the right partner to lead these efforts in becoming our Master Distributor. The principals and advisors of Cloud Diagnostics ("Cloud") are deeply connected to the biotech and medical device world. Each of them has led and participated multiple times in successful new product launches, worth many hundreds of millions of dollars." remarked Radu Leca, President and CEO for Biosign. The deal is expected to be concluded in the first half of 2010.
"Biosign's novel approach to solving the long existing inadequacies in precise measurement and rapid knowledge formation, which are common with traditional diagnostic methods, will have a material impact on the healthcare and life sciences industries" said Robert Kaul, Founder and CEO of Cloud, adding "our team has specific experience sheparding new medical devices through FDA and other government approvals, arranging for insurance and Medicare reimbursement of new medical technologies, and has been responsible for many substantial, successful healthcare product launches; all of which makes our organization well suited to represent Biosign in the United States."
Under the MOU, the parties will negotiate a long term Distribution Agreement that will include, among other things, the following:
- An initial payment to Biosign for entering into the agreement;
- Milestone payments to Biosign for various defined regulatory
- Minimum sales volume commitments over the term of the Agreement;
- A transition of all existing resellers of Biosign products in the
U.S. to Cloud;
- Exclusivity of distribution in the U.S. to Cloud for the Biosign
product portfolio for the duration of the Agreement.
Biosign shall continue to enlist resellers and Channel Partners, during the negotiations with Cloud, to help build its presence in the U.S. and in Canada.
About Biosign Technologies Inc.
Biosign 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 Cloud Diagnostics
The team at Cloud has a long track record of success. Their Business Development advisor Mr. Marv Goldschmitt was in charge of launching one of the most important and profitable IT products in history, the spreadsheet program Lotus 1-2-3. Co-founder Sandra Holtzman helped launch the Acura automotive brand in the US, and has successfully marketed advanced healthcare products for over 20 years. Operations advisor Mr. James Sharpe has launched many profitable new biotech products including new drugs, gene therapies and medical devices in his 25-year executive career. Co-founder Todd Frech was responsible for launching the two original Electronic Medical Record systems in America, and has been called "the father of the electronic health record". Finance advisor Mr. David Schmidt most recently served as leader of Strategy & Business Development for industry giant Honeywell. Former US Senator Al D'Amato who served on the Appropriations Committee, the Finance Committee and chaired the Senate Banking Committee in an 18-year career in public office leads Government Affairs advisor Park Strategies LLC. Cloud Diagnostics is located in New York City.
About R. M. Kaul & Associates Inc (RMK)
RMK was founded as a marketing consultancy in 2003, initially based in Vancouver Canada. The company supplied online and print based marketing services to leading firms in the Film, Television and New Media industries. In 2004, the company won a prestigious grant from the Bell Broadcast & New Media Fund to develop a groundbreaking text-message game application for CHUM New Media of Toronto. In 2005, RMK began working with Canadian companies in the Life Safety industry who wished to launch products in the United States, and the firm opened an office in New York City. One client successfully penetrated the lucrative US market for high-tech safety signs, doubling sales within the first year. Another Canadian life safety client raised over $5M in capital based on their initial performance in the US. RMK has extensive experience building stakeholder coalitions, establishing distribution networks, managing supply chains, recruiting sales & marketing teams, securing intellectual property, attracting investment and growing new ventures.
About EHR Empowerment Consortium LLC (EHR)
EHR is a healthcare consultancy that works with Hospitals, Physicians and other providers to optimize their application of new Electronic Health Record technology. The American Recovery & Reinvestment Act (ARRA) offers eligible healthcare providers funding to implement new EHR systems and EHR Empowerment assists providers in navigating this new world of 'health informatics'. The principal partners, Sandra Holtzman and Todd Frech have worked extensively with biotech/healthcare giants including Pfizer Pharmaceuticals, American Express Health Systems and CTG HealthCare Solutions. As widely acknowledged experts in the areas of medical informatics, medical device marketing, pharmaceutical marketing and new medical technology, EHR Empowerment is perfectly placed to assist major healthcare customers with the challenging task of adopting transformative healthcare information technology like that from Biosign. EHR has offices in New York, NY and Charleston, SC.
For more details on Cloud Diagnostics, go to www.clouddiagnostics.biz
The CNSX has neither approved nor disapproved the contents of this press release.
SOURCE Biosign Technologies Inc.
For further information: For further information: For Biosign: Radu Leca, President & CEO, Biosign Technologies Inc., (416) 218-9800 ext. 222, firstname.lastname@example.org; For Cloud: Robert Kaul, Founder & CEO, Cloud Diagnostics, (646) 496-0306, email@example.com