The partnerships are with F.O.I. Ltd. in Israel and Madina Enterprises Group in the Arab Republic of Egypt which both form exclusive agreements; Lynx Technologia Electronica Ltd. in Brazil and Suyog Diagnostics Pvt, Ltd. in the Republic of India which also has closed an exclusive agreement.
"By completing the first steps necessary to enter these important markets, we can now focus on assisting our new partners in obtaining local regulatory approval", stated CompuMed CEO, Jerry McLaughlin. "Osteoporosis is an insidious, silent disease that usually affects those over 50 years of age. However, in India alone a study has revealed that almost 30 percent of women and nearly 25 percent of men between 20 and 79 years of age had low bone mass. In a country with a population exceeding one billion, this translates into a major public health problem."
The OsteoGram is a patented software system that utilises a standard hand x-ray coupled with computer imaging technology to screen, diagnose and monitor osteoporosis. The highly accurate results and competitive cost advantages of the OsteoGram make it ideal for use in countries that are beginning to address the growing problem of osteoporosis among their populations.
The OsteoGram is cleared to market by the United States FDA, the Chinese State Drug Administration (SDA) and, most recently, the Korean FDA. During the next quarter, the company also expects to obtain a European Union CE Mark, which will enable it to open up sales opportunities in the 18 country European Economic Area (EEA) late this calendar year.
In addition, CompuMed is preparing to launch the new DICOM version of the OsteoGram late in 2003, which will initiate its presence in the growing market for digital imaging platforms that are expected to replace current film-based x-ray systems.
Founded in 1973, CompuMed Inc. is a provider of computer-aided telemedicine and diagnostics technology. The company's core products are the OsteoGram and CardioGram systems. The OsteoGram, which is cleared by the FDA for commercial use, is an accurate and precise technology for low-cost osteoporosis testing.
The CardioGram system remotely interprets electrocardiograms and is used by private practice, government and corporate health care providers nationwide. The CardioGram also has the capability to automatically provide an over-read or follow-up review by a Board Certified cardiologist.