Integrity Applications, Inc. (OTCQB: IGAP), developer of the GlucoTrack®
model DF-F non-invasive blood glucose measurement device, has entered
into a distribution agreement appointing Ultramedix Australasia Pty
Ltd., with their depth of specialist clinical expertise and expertise in
engineering, sales and marketing in the high-tech medical industry, as
the exclusive distributor of the GlucoTrack device in Australia and New
Zealand. The appointment is subject to, and will take effect 14 days
after, the approval of the listing of the GlucoTrack model DF-F device
on the Australian Register of Therapeutic Goods (ARTG) register.
According to the International Diabetes Federation, nearly 2 million
diabetes patients live in Australia and New Zealand combined.
Saul Freedman, director of Ultramedix Australasia Pty Ltd, said, “We are
looking forward to bringing the GlucoTrack model DF-F non-invasive blood
glucose measurement device to diabetes patients in Australia and New
Zealand. We believe Integrity Applications’ GlucoTrack represents a
significant advance in future diabetes management.”
Based on the minimum purchase requirements contained in the distribution
agreement, Ultramedix Australia is expected to purchase a minimum of
$360,000 of GlucoTrack model DF-F devices from Integrity Applications in
the first contract year. GlucoTrack will be made available to diabetes
patients through the channels to be announced on Ultramedix Australia’s
web site.
Avner Gal, President and CEO of Integrity Applications, said, “This
distribution agreement marks an important milestone for our company and
we look forward to providing patients with diabetes a new, non-invasive
option for monitoring blood glucose. I am confident that the diabetes
community in Australia and New Zealand, as well as other nations, will
soon learn about the many benefits of GlucoTrack, and use this tool as a
fresh alternative to existing blood glucose monitoring options.”
GlucoTrack features a small sensor that clips to the earlobe and
measures the wearer’s blood glucose level by taking measurements using
three technologies. The measurements are analyzed using a proprietary
algorithm and displayed on a portable handheld device, the size of a
mobile phone. The derived blood glucose measurement is also announced
verbally, making it suitable for the elderly and vision-impaired
diabetes patients. The company has obtained a CE Mark for its GlucoTrack
Model DF-F in Europe and intends to seek Food and Drug Administration
approval for GlucoTrack in the United States.
To watch a video detailing the benefits of GlucoTrack, please visit the
following link: http://www.integrity-app.com/the-glucotrack/
About Integrity Applications, Inc.
Integrity Applications, Inc. is a medical device company focused on the
design, development and commercialization of non-invasive glucose
monitoring devices for use by people with diabetes. Integrity
Applications has developed the GlucoTrack model DF-F non-invasive
glucose monitoring device, which is designed to help people with
diabetes obtain blood glucose level measurements without the pain,
inconvenience, incremental cost and difficulty or discomfort of
conventional (invasive) spot finger stick devices. Integrity
Applications works primarily through its wholly-owned Israeli
subsidiary, A.D. Integrity Applications, Ltd. For more information
please visit www.integrity-app.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Statements
contained in this news release that are not statements of historical
fact may be deemed to be forward-looking statements. Without limiting
the generality of the foregoing, words such as "expect," and "will," are
intended to identify forward-looking statements. Readers are cautioned
that certain important factors may affect Integrity Applications’ actual
results and could cause such results to differ materially from any
forward-looking statements that may be made in this news release.
Factors that may affect Integrity Applications’ results include, but are
not limited to, the ability of Integrity Applications to secure the
listing of the GlucoTrack model DF-F device on the ARTG
register; the ability of Integrity Applications to successfully
commercialize the GlucoTrack DF-F; the ability of the GlucoTrack DF-F to
achieve acceptable pricing, adequate third party reimbursement or market
acceptance; the ability of Integrity Applications to manage its growth
and the expansion of its operations to include commercialization
activities; risks relating to the use of third party manufacturers;
risks relating to the development of Integrity Applications’ sales,
marketing and distribution capability, either on its own or through
collaborations with marketing partners; and the additional risk factors
described in Integrity Applications’ filings with the U.S. Securities
and Exchange Commission, including its Annual Report on Form 10-K for
the year ended December 31, 2012.
Copyright Business Wire 2014