Healthcare Industry News: blood glucose monitor
News Release - January 13, 2014
Integrity Applications Signs Distribution Agreement for GlucoTrack(R) Model DF-F Glucose Monitoring DeviceASHKELON, Israel--(Healthcare Sales & Marketing Network)--Integrity Applications, Inc. (IGAP), developer of the GlucoTrack® model DF-F non-invasive blood glucose measurement device, has entered into a distribution agreement appointing Ultramedix Australasia Pty Ltd., with their depth of specialist clinical expertise and expertise in engineering, sales and marketing in the high-tech medical industry, as the exclusive distributor of the GlucoTrack device in Australia and New Zealand. The appointment is subject to, and will take effect 14 days after, the approval of the listing of the GlucoTrack model DF-F device on the Australian Register of Therapeutic Goods (ARTG) register. According to the International Diabetes Federation, nearly 2 million diabetes patients live in Australia and New Zealand combined.
Saul Freedman, director of Ultramedix Australasia Pty Ltd, said, “We are looking forward to bringing the GlucoTrack model DF-F non-invasive blood glucose measurement device to diabetes patients in Australia and New Zealand. We believe Integrity Applications’ GlucoTrack represents a significant advance in future diabetes management.”
Based on the minimum purchase requirements contained in the distribution agreement, Ultramedix Australia is expected to purchase a minimum of $360,000 of GlucoTrack model DF-F devices from Integrity Applications in the first contract year. GlucoTrack will be made available to diabetes patients through the channels to be announced on Ultramedix Australia’s web site.
Avner Gal, President and CEO of Integrity Applications, said, “This distribution agreement marks an important milestone for our company and we look forward to providing patients with diabetes a new, non-invasive option for monitoring blood glucose. I am confident that the diabetes community in Australia and New Zealand, as well as other nations, will soon learn about the many benefits of GlucoTrack, and use this tool as a fresh alternative to existing blood glucose monitoring options.”
GlucoTrack features a small sensor that clips to the earlobe and measures the wearer’s blood glucose level by taking measurements using three technologies. The measurements are analyzed using a proprietary algorithm and displayed on a portable handheld device, the size of a mobile phone. The derived blood glucose measurement is also announced verbally, making it suitable for the elderly and vision-impaired diabetes patients. The company has obtained a CE Mark for its GlucoTrack Model DF-F in Europe and intends to seek Food and Drug Administration approval for GlucoTrack in the United States.
To watch a video detailing the benefits of GlucoTrack, please visit the following link: http://www.integrity-app.com/the-glucotrack/
About Integrity Applications, Inc.
Integrity Applications, Inc. is a medical device company focused on the design, development and commercialization of non-invasive glucose monitoring devices for use by people with diabetes. Integrity Applications has developed the GlucoTrack model DF-F non-invasive glucose monitoring device, which is designed to help people with diabetes obtain blood glucose level measurements without the pain, inconvenience, incremental cost and difficulty or discomfort of conventional (invasive) spot finger stick devices. Integrity Applications works primarily through its wholly-owned Israeli subsidiary, A.D. Integrity Applications, Ltd. For more information please visit www.integrity-app.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "expect," and "will," are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect Integrity Applications’ actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect Integrity Applications’ results include, but are not limited to, the ability of Integrity Applications to secure the listing of the GlucoTrack model DF-F device on the ARTG register; the ability of Integrity Applications to successfully commercialize the GlucoTrack DF-F; the ability of the GlucoTrack DF-F to achieve acceptable pricing, adequate third party reimbursement or market acceptance; the ability of Integrity Applications to manage its growth and the expansion of its operations to include commercialization activities; risks relating to the use of third party manufacturers; risks relating to the development of Integrity Applications’ sales, marketing and distribution capability, either on its own or through collaborations with marketing partners; and the additional risk factors described in Integrity Applications’ filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012.
Source: Integrity Applications
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