D. Medical Further Expands U.S. Distribution Network for Spring Universal Infusion Sets
05 Dezembro 2011 - 10:45AM
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 New Jersey-based subsidiary, Spring Health
Solutions Inc. ("Spring Health"), has signed a non-exclusive
distribution agreement with Agile Edge Technologies ("AET") for the
distribution of its Spring™ Universal Infusion Sets in the United
States.
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.
Efri Argaman, D. Medical's Chief executive Officer, commented,
"This marks our third non-exclusive distribution agreement and
provides us with important new access to the governmental
sector. As we continue to execute our growth strategy,
expanding our U.S. distribution network and enhancing our access to
additional market segments by partnering with key distributors like
AET will be a key factor in our success."
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 Agile Edge Technologies
AET integrates best-in-class IT infrastructure, revolutionary
intellectual property, intelligent analytics, data management and
world-class consulting with a proven record of delivering superior
solutions with unparalleled results in the government, commercial
and medical sectors.
The goal of the AET Medical division is to bring emerging
in-home medical products to market - improving health care, and
establishing a higher quality of life at a lower cost for in-home
patients. They do this by pairing cutting edge wireless
technologies and mobile device applications with trusted, effective
in-home medical devices to create what they believe will become the
world's best and most complete offering to patients and caregivers.
With world-class expertise in data architecture and management,
they are revolutionizing the way medical data is collected,
transferred, analyzed and disseminated - bringing cooperation and
communication between patient and caregiver to a whole new level.
For more information, please visit http://www.AgileEdgeTech.com
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:
Michal Efraty
T: +972-3-6950380
M: +972-52-3044404
michal@efraty.com
Agile Edge Technologies, Inc
Gerry Newland
President, AET Medical Division
Agile Edge Technologies, Inc.
T 877.238.8128 (ext. 702)
GNewland@AgileEdgeTech.com
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