TORONTO, July 9 /CNW/ - Biosign Technologies Inc. (CNSX: BIO) and DLF Solutions Inc. (DLF), announced today they have successfully concluded negotiations resulting in an exclusive Master Distribution Agreement for the Canadian marketplace.
In April, 2010, Biosign and DLF announced their decision to enter into a Master Distribution Agreement. A consistent vision for market potential and impact on patient care lead to a very smooth and rapid transition to a final agreement.
"Beside extensive experience in bringing unique clinical programs to the healthcare industry, DLF has the knowledge and resources to introduce our revolutionary health monitoring products and services to multiple market segments in Canada." remarked Radu Leca, President and CEO for Biosign.
Terms of the exclusive Master Distribution Agreement, include, among other things, the following:
- DLF will pay an initial $100,000 and an additional $400,000 according
to regulatory and reimbursement milestones;
- Minimum sales volume commitments over the term of the Agreement,
including a five year growth plan achieving an expected $60,000,000 in
- An immediate transition of all existing resellers of Biosign products
in Canada to DLF;
"We have initiated an extensive strategic planning process, and will begin our sales and marketing activities immediately", said Mark Michalkoff, President of DLF. "The response from healthcare professionals has been extremely positive. We are expecting strong levels of adoption quickly."
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 DLF Solutions Inc.
DLF Solutions Inc. is a specialty logistics and program provider to the pharmaceutical industry in Canada. DLF specializes in program design, development, implementation and management support to a number of multinational pharmaceutical companies in Canada, including Triton Pharma Inc., and Ranbaxy Pharmaceuticals Canada Inc.. DLF recognizes and embraces the evolving strategic shift in the Canadian pharmaceutical industry toward implementation of pioneering technologies and is able leverage its extensive relationship base in furtherance of these industry initiatives. For more information on DLF please contact Mark Michalkoff at firstname.lastname@example.org.
The CNSX has neither approved nor disapproved the contents of this press release.
SOURCE Biosign Technologies Inc.
For further information: For further information: Radu Leca, President & CEO, Biosign Technologies Inc., Phone: (416) 218-9800 extension 234, Email: email@example.com