D. Medical Expands U.S. Distribution Network for Spring Universal Infusion Sets
06 Outubro 2011 - 9:15AM
D. Medical Industries Ltd. (Nasdaq:DMED) (TASE:DMED) ("D. Medical"
or the "Company"), a medical device company engaged through its
subsidiaries in the research, development, manufacture and sale of
innovative products for diabetes treatment and drug delivery,
announced today that its subsidiary, Spring Health Solutions Inc.
("Spring Health"), has signed a non-exclusive distribution
agreement with Doubek Medical Supply Inc. ("Doubek") for the
distribution of its Spring™ Universal Infusion Sets in the United
States.
Spring Health, a Delaware company headquartered in New Jersey,
is owned 100% by Spring Health Solutions Ltd., which, in turn, was
established for the purpose of supporting D. Medical's U.S.
operations. This agreement with Chicago-based Doubek marks the
second non-exclusive U.S. distributorship established by Spring
Health.
The U.S. insulin pump and disposables market is large and
growing. According to the American Diabetes Association,
approximately 26 million diabetes patients live in the United
States, constituting 8.3% of its population. Of those, experts
estimate that 5.4%, or 1.4 million, suffer from Type 1 diabetes and
350,000 currently rely on insulin pump therapy. A recent U.S.
Centers for Disease Control and Prevention report estimated that 1
in 3 Americans will have diabetes by 2050 if current trends
continue. The annual market for infusion sets alone is estimated to
total $730 million in the U.S.
Zoe Myers, D. Medical's Chief Commercial Officer, commented,
"The expansion of our U.S. distribution network through the
addition of market leaders like Doubek is in keeping with our goal
of generating meaningful revenues and reaching positive margins as
quickly as possible. Moving forward, we are committed to working
closely with all of our distribution partners to ensure that our
groundbreaking Spring Universal Infusion set product will gain
significant awareness, acceptance and adoption."
About the Spring Universal Infusion Set
The Spring Universal Infusion Set is compatible with most
insulin pumps currently available on the market. Going beyond the
minimum requirements of subcutaneous drug delivery, the Spring
Universal offers best-in-class features such as a hidden,
auto-retractable needle, 360 degree connector, and smallest
one-click, all-in-one inserter.
The core of the Spring Universal Infusion Set is the proprietary
Detach-Detect mechanism. In the case the base of the infusion set
detaches from the user's body, a blocking mechanism is triggered
which, in turn, creates an occlusion. This evokes an occlusion
alarm in an insulin pump. This unique feature enables exceptional
reliability for continuously controlled and monitored insulin
delivery, providing additional safety and peace of mind -
especially for athletes and the parents of pediatric patients.
About D. Medical
D. Medical is a medical device company engaged through its
subsidiaries in the research, development, manufacture and sale of
innovative products for diabetes treatment and drug delivery. D.
Medical has developed durable and semi-disposable insulin pumps,
which continuously infuse insulin into a patient's body, using its
proprietary spring-based delivery technology. D. Medical believes
that its spring-based delivery mechanism is cost-effective compared
to the motor and gear train mechanisms that drive competitive
insulin pumps and also allows it to incorporate certain
advantageous functions and design features in its insulin pumps. D.
Medical has also developed an infusion set for insulin pumps and is
focusing its research and development efforts on the development of
next generation insulin pumps and a device that will combine a
continuous glucose monitoring system and an insulin pump on the
same patch. For more information, please visit
http://www.dmedicalindustries.com (corporate) and
http://www.springnow.com (healthcare professionals, patients and
care givers).
About Doubek Medical Supply
Doubek Medical Supply Inc. is part of Doubek Medical Supply
& Pharmacy which is an organization of experienced
professionals specializing in quality "people" care. Doubek has
been in business for over 50 years, and its staff includes:
- Registered Pharmacists
- Registered Nurses
- Certified Fitters
From pharmaceuticals to medical supplies and equipment, Doubek
Medical Supply & Pharmacy is a full service supplier.
Forward-Looking Statements
This press release contains forward-looking statements (as
defined by the Israeli Securities Law, 1968, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended) that involve risks and
uncertainties. These statements include, forecasts, goals,
uncertainties and assumptions and relate, inter alia, to D.
Medical's future expectations in connection with its level of sales
and cost of sales, manufacturing volumes, the cost-effectiveness of
its spring-based design, target markets, regulatory approvals and
timing of markets penetration. The forward-looking statements are
based on D. Medical's current expectations and beliefs which are
based on, among other things, its analysis of publicly available
information and market research reports. All forward-looking
statements are subject to certain risks, uncertainties and
assumptions that could cause actual results to differ materially
from those described in the forward-looking statements. Such risks
and uncertainties include, but are not limited to, the impact of
general economic conditions, competitive products, product demand,
product performance, the performance of D. Medical's contract
manufacturer and distributors, regulatory trends and approvals and
healthcare reform legislation. If one or more of these risks and/or
uncertainties materialize, or if the underlying assumptions prove
to be incorrect, D. Medical's actual results, performance or
achievements could differ materially from those expressed in, or
implied by, any such forward-looking statements or results which
are based upon such assumptions. No assurances can be given that
any of the events anticipated by the forward-looking statements
will transpire or occur, or of any of them will transpire or occur,
what impact it will have on D. Medical's results of operations or
financial condition. D. Medicals does not undertake to update any
forward-looking statements.
CONTACT: Company Contact:
Amir Loberman
Chief Financial Officer
D. Medical Industries LTD
T: +972-73-2507135
info@springnow.com
North American Investor Contact:
Stephen Kilmer
T: 212-618-6347
stephen@dmedicalindustries.com
Israeli Investor Relations Contact
Iris Lubitch
T: 972-775538007
Iris@EffectiveIR.co.il
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