ALR Technologies' Letter to Shareholders
21 Maio 2014 - 9:18AM
Marketwired
ALR Technologies' Letter to Shareholders
RICHMOND, VA--(Marketwired - May 21, 2014) - ALR Technologies
(OTCBB: ALRT), a medical device company providing remote monitoring
and care facilitation for patients with chronic diseases, today
delivered the following letter to its shareholders.
Dear Shareholders:
First, thank you for your continuing support for our
company. It is an exciting time at ALRT and, as we have done
in the past, I will continue to send out occasional updates on our
progress with the intention of keeping you and the general public
informed about recent developments and the prospects for our
company's success.
Let me first provide a reminder about what our unique product
is, and what it does. The market is crowded with "apps" and
other technologies meant to help patients organize their data and
provide it to their physicians. Our technology is not an
"app," it is an FDA-cleared platform that is used by our trained
team to monitor measureable blood glucose data and to notify
physicians or caregivers when there are adverse trends in the
data. Our product is predicated on our understanding that
physicians are too busy to monitor data sent by an "app," or to
logon to multiple sites and look for adverse trends in patient
data. Therefore, what we offer is a service that can help
physicians and payers manage larger numbers of patients more
efficiently and effectively.
About a year ago, we decided upon a go-to-market strategy in the
U.S. that targets payers, including self-insured employers and
health plans. Because our Health-e-Connect system has the
potential to assist payers in managing the burgeoning costs of
treating diabetes, we are confident that a market exists for a
cost-effective remote monitoring system for diabetes. Since
the middle of last year, we have been in discussions with a number
of payers and we hope that we will be able to announce projects
with these payers in the near term.
We are actively pursuing horizontal and vertical growth
opportunities by presenting the Health-e-Connect System in many
possible sales channels. Besides payers, we also feel that our
system may be attractive to Accountable Care Organizations (ACOs)
and other medical groups who have incentives for effectively
managing chronic disease. As with payers, we have been in
discussions with ACOs and we hope we will be in a position to
announce joint projects in the near future.
In addition to payers and medical groups, we feel that the
Health-e-Connect system can be an effective tool in the home health
setting, as well as in skilled nursing facilities. For this
market segment, we also have been in lengthy discussions with firms
who know this market well. Our system has the potential to
assist elderly patients stay in their homes or might prevent a
nursing home patient from enduring a hospitalization.
Another U.S. market showing potential for ALRT is Medicaid.
There is a distinct trend toward the reimbursement of remote
monitoring services in Medicaid. While the state laws and
regulations are complex, we have launched an initiative to
familiarize state Medicaid directors with our technology and to
explore market opportunities in this government space.
We also see strong growth potential in international
markets. Developing economies are seeing exploding rates of
obesity and Type 2 diabetes. Countries with public healthcare
systems in particular are struggling to maintain a level of quality
care, as physicians are overwhelmed by the number of
patients. This is especially the case in Latin
America. The Health-e-Connect System is an ideal tool to help
these public healthcare systems to manage more patients more
effectively without a large capital investment on the part of the
governments. We are in preliminary discussions with officials
in some of these developing countries, detailing the potential
benefits of the Health-e-Connect System and to date the interest
appears strong.
The Health-e-Connect System continues to improve and
evolve. During this quarter, we announced the addition of a
new feature to the System: Insulin Dose Adjustment Consultations
(IDAC). With this new feature, primary care physicians can
receive an electronic dosing recommendation for insulin from a
specialty endocrinologist. Because our system captures actual
blood glucose data from a patient's meter, an endocrinologist can
formulate a dosing recommendation online by combining the patient's
blood glucose data with key patient information. That
recommendation can then be sent to the primary care physician
electronically.
This new feature, which will allow primary care physicians to
more easily manage their patients' blood glucose intensively, has
attracted interest from insulin manufacturing pharmaceutical
companies who have a distinct interest in assisting physicians in
achieving the optimal dose of insulin for their patients. We
are currently exploring possible "real world" demonstration
projects for IDAC with these pharmaceutical manufacturers.
I would like to close by thanking all the investors for their
continued support and believing in the promise of our
technology. ALR Technologies is a medical device company, and
introducing a transformational medical device product is a complex
and lengthy process. Potential customers go to great lengths
to "kick the tires" on our technology to make certain that clinical
outcomes are likely to be improved, patient data will be protected,
providers and patients will be satisfied with the use of our
System, and that the benefits of the system will outweigh the
costs. We have welcomed this extensive due diligence process
on the part of our potential customers as we believe it has clearly
set us apart from any potential competition and are optimistic that
we will be in a position to see our System used more widely in the
market in the near term.
Please visit our YouTube Channel at:
http://www.youtube.com/user/ALRTechnologies and our web site
www.alrt.com to learn more about all aspects of ALR
Technologies.
Thank you again for all your support.
Yours truly, ALR TECHNOLOGIES INC.
Sidney S Chan Chairman & Chief Executive Officer
About ALR Technologies Inc. ALR Technologies is a medical device
company providing remote monitoring and care facilitation for
patients with chronic diseases. ALRT has developed the FDA-cleared
and HIPAA compliant Health-e-Connect System that collects data from
blood glucose meters and uploads to a secure website. Trained
Facilitators use the System to effect efficiency of care among
patients, clinicians and caregivers to improve outcomes and assist
health plans to optimize their quality goals. Currently, the
Company is focused on diabetes and will expand its services to
cover other chronic diseases anchored on verifiable data.
This release contains certain "forward-looking statements"
relating to ALR Technologies' business, and these statements
reflect the current views of ALR Technologies with respect to
future events and are subject to certain risks, uncertainties and
assumptions. When used, the words "estimate", "expect",
"anticipate", "believe" and similar expressions are intended to
identify such forward-looking statements. There are many factors
that could cause the actual results, performance or achievements of
ALR Technologies and its products to be materially different from
any future results, performances or achievements that may be
expressed or implied by such forward-looking statements. Further
management discussions of risks and uncertainties can be found in
the company's quarterly filings with the Securities Exchange.
Contact: Philip Murphy 203.947.2827 email:
phil.murphy@alrt.com
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