DALLAS & FRICK, Switzerland--(BUSINESS WIRE)--Allarae HealthCare, Inc., Dallas, Texas (Pink Sheets:ALHI - News), and Lobeck Medical AG, Frick, Switzerland (FRANKFURT:34L - News) (ISIN CH0025477065), announce a long term joint venture agreement and product distribution alliance. The alliance will provide Allarae with access to an established global distribution channel for immediate sale of its products and services in about 30 countries outside the US, while making Lobeck products available to Allarae for exclusive distribution in the United States. Both companies will centralize manufacturing and warehousing at Lobeck central manufacturing facilities in Frick, Switzerland.
The companies are complementary and active in the personal health screening area. Allarae is now focusing on development/acquisition of innovative personal testing, screening and monitoring products/services including breast and other cancer early detection systems. Allarae is also involved with the implementation of a comprehensive family software system for live tracking and monitoring of personal health indicators.
Lobeck has developed several innovative products including a proprietary, intelligent blood glucose meter and a range of personal screening tests for pregnancy, ovulation, female menopause and colon cancer. These will be integrated with the new Allarae software. Lobeck is actively focusing on the distribution of all products and further development of its global distribution channels. Under the new arrangement, Lobeck will manufacture all products in Switzerland for both companies.
Together the two companies will launch several innovative new products and services this year and in the future. A few include tests for very early cancer detection and monitoring, a system for strep throat detection, prostate PSA screening and flu virus screening. FDA and CE approval has already been obtained for several tests which are ready for immediate global sale under the worldwide protected brand name “MediSmart of Switzerland®.”
In order to manage the venture, a jointly owned subsidiary is being established in Nevada along with a sales office in Dallas, Texas. The Nevada operation will be responsible for distribution in North America as well as for management of the FDA approval process. Under the main provisions of the agreement, Allarae will make available a comprehensive software system for test result tracking and monitoring under the “MediSmart of Switzerland®” brand. The software will integrate all the test kits and medical devices into a central data vault and tracking network, thereby creating a unique, first-to-market international offering. These new products, among others, will be presented at the world’s leading medical trade fair MEDICA in November 2008 in Düsseldorf, Germany.
Mr. Phillip Matteis, Allarae’s CEO, said today, “This is a hallmark agreement for both companies. It is very important that families and individuals have the tools available to find out if they have any major health conditions at the earliest possible time. Health problems such as cancer can go undetected for years until it is too late for a favorable outcome. The combined growing line of kits and software will bring affordable solutions to an international market like never before. Because of today’s complex healthcare environment, everyone must take personal responsibility to monitor their health on a regular basis.”
By combining Allarae and Lobeck products under the joint alliance and distribution umbrella, both companies will realize an enriched product offering, including multi-national data on health, and a unique opportunity worldwide. The management team believes that this will be a significant driver for increased shareholder value and strong revenue in both companies.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as ALHI or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements in this release that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
New corporate Website: www.allarae.com
Contact:
Allarae HealthCare, Inc. Investor Relations Paradise Capital Group Jason DeOliveira, 561-305-2848
Source: Allarae HealthCare, Inc.
