MEDIA, Pa., July 17 /PRNewswire-FirstCall/ -- Synova Healthcare Group, Inc. announced today that point of sale (POS) data gathered from some of its major retailers carrying the Today(R) Sponge indicate that recent unit sales have increased as much as 17% by account. A review of the POS data from three of the company’s major retailers showed an increase in unit sales to their retail customers ranging from 7% to 17% by account, when comparing the four-week unit sales average ending May 12, 2007, to the four-week unit sales average for the period ended June 17th, 2007. It was during the week ending May 12, 2007, that Synova Healthcare attended the American College of Obstetrics and Gynecology (ACOG) meeting where the company “re-introduced” the Today(R) Sponge to healthcare professionals from across the US. The three retail accounts from where the data sample was derived represent the majority (54%) of the Today(R) Sponge units sold for Synova during the period analyzed.
Ms. Joann Armitage, EVP, Sales and Marketing, stated, “Exhibiting at the ACOG meeting was our first major marketing endeavor for the Today(R) Sponge. Healthcare providers represent the primary source for advice regarding contraceptive options. It was important for Synova to inform healthcare providers about the availability of the product and the benefits the Today(R) Sponge can offer to their patients seeking a hormone-free contraceptive. We believe that these data reflects that our overall marketing efforts have led to the increase in unit sales. We are looking forward to our national consumer directed campaign set to kick off later this month.”
Coupled with the news of increasing unit sales, the Company also announced that it expects to add approximately 1,800 new points of distribution during the next two months. Of these additions, the largest new point of distribution will occur in the 1,300 Brooks Eckerd Pharmacy locations recently acquired by Rite Aid Corporation. The Today(R) Sponge will also gain distribution through Duane Reade, a major drug store chain in the New York metropolitan area with more than 230 store locations. Further, the Company expects several regional retailers will similarly be adding the Today(R) Sponge as part of the contraceptive choices they provide their consumers.
About the Today(R) Sponge:
The Today(R) Sponge was once the most well-known, and #1 selling over-the- counter (OTC) form of female birth control. It was also the first product to combine a spermicide and a barrier contraceptive in one easy to use product. The Today(R) Sponge is an effective, hormone-free contraceptive that offers 24-hour protection without the potential side effects and long-term commitment associated with hormonal methods. Measuring only 1.75 inches in diameter and .50 inches in thickness, the Today(R) Sponge contains sperm-killing nonoxynol 9 and fits comfortably over the cervix. The Today(R) Sponge has been widely tested and was used by over 6.5 million women from 1983 to 1995. The Today(R) Sponge is now widely available in the United States and Canada at major retailers such as CVS, Walgreens, Rite Aid, Target and Wal-Mart. For more information, please visit www.TodaySponge.com.
About Synova Healthcare Group, Inc.:
Synova Healthcare Group, Inc. is committed to delivering innovative products that provide meaningful improvements in women’s healthcare. Through its subsidiaries, it is focused on the development, distribution, marketing and sale of women’s healthcare products related to contraception, vaginal health, menopause management, fertility planning, obstetrics and personal care. Its goal is to provide healthcare solutions that address every stage of a woman’s life. Synova currently markets and sells products under the brand names Today(R), Fem-V(TM), MenoCheck(R) and MenocheckPro(R). The Today(R) Sponge is a non-hormonal contraceptive that combines barrier, spermicidal and absorptive methods to prevent conception. Fem-V(TM) is a non-invasive diagnostic test designed to assist women in detecting and diagnosing the presence of elevated vaginal acidity, often indicating a vaginal infection. Our MenoCheck(R) and MenocheckPro(R) products are in-home and in-office non- invasive diagnostic tests used to detect and diagnose the onset of menopause. For more information, please visit the Company’s website at http://www.synovahealthcare.com.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Such risk factors are discussed in the Company’s Form 10-KSB for the year ended December 31, 2006, as filed with the Securities and Exchange Commission on February 26, 2007, and the Company’s Form 10-QSB for the three months ended March 31, 2007, as filed with the SEC on May 18, 2007, as well as in the Company’s other periodic reports and filings with the SEC. There can be no assurance that such factors will not affect the accuracy of such forward- looking statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information set forth in this Press Release including such forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy; nor will there be any sale of securities of Synova Healthcare Group, Inc. in any state where such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of those states.
Synova Healthcare Group, Inc.
CONTACT: Corporate Relations: Mr. Robert Edwards, Chief Financial Officerof Synova Healthcare Group, Inc., +1-610-565-7080, redwards@snvh.com
