Under the terms of the distribution agreement, BioPharmetics Inc. will have the ability to market and sell the Eclipse Blood Glucose Monitoring System. If desired, the Eclipse Meter can be coupled with the Eocene Modem, allowing patients to upload their glucose levels via telephone to a secure server accessed only by authorized physicians and insurance companies.
BioPharmetics, which recently acquired 500 HME dealers through the investment of VPI into the company, will market and sell the Eclipse Meter and Eocene Modem, to HME dealers, insurance companies, and diabetic supply companies throughout the United States, Puerto Rico, and Canada.
The Eclipse Blood Glucose Meter features include the memory to store up to 250 readings, allows for up to 100 users in a multi-patient setting, and gives accurate results in only 5 seconds.
"This distribution agreement allows BioPharmetics to enter the telemedicine sector with the latest in glucose monitoring systems to supply to our dealer network, insurance companies, and diabetic supply companies. This also allows us to expand our product offerings and should add an additional $3-$5 million dollars in revenue over the next 12 months. In addition, we will continue to work with HMD BioMedical to offer additional telemedicine products as they become available to the United States market", stated Mr. Paul D. Lisenby, CEO of BioPharmetics Inc.
BioPharmetics Inc. provides quality durable medical equipment, diabetic supplies, and health, beauty, and anti-aging products to customers in the United States, Canada, and over 23 countries throughout the world. The company operates three separate divisions: Biotechnology, Pharmaceuticals, and Cosmetics.
The pharmaceutical division, its largest, distributes medical equipment and diabetes supplies, dispenses physician-prescribed medications through its pharmacy partners, as well as working closely with its dealer network, health care companies, and managed care facilities to provide superior pricing and customer support for Medicare, Medi-Cal, Medicaid and private insurance reimbursement programmes.