Integrity Applications, Inc. (OTCQB: IGAP), developer of the GlucoTrack®
model DF-F noninvasive blood glucose measurement device, has entered,
through its wholly-owned subsidiary, Integrity Applications Ltd., into
distribution agreements for the GlucoTrack device in the Philippines and
in Chile. According to the International Diabetes Federation, a total of
about 3.3 million people with diabetes, or 6 percent of the adult
population, live in the Philippines, and a total of about 1.3 million
people with diabetes, or 10.4 percent of the adult population, live in
Chile. This is its second distribution agreement in Asia and the second
distribution agreement in South America.
The agreement in the Philippines became effective on March 11, 2014 and
the one in Chile becomes effective on April 13, 2014. Based on the
minimum purchase forecasts contained in these distribution agreements,
Integrity Applications anticipates that these distributors will purchase
from it an aggregate of about $1.6 million of GlucoTrack model DF-F
devices in the first 12 months of sales.
Avner Gal, President and CEO of Integrity Applications, said, “These
distribution agreements reinforce that there is global need and demand
for GlucoTrack. With our recent extended CE Mark approval to six-month
calibration validity, we believe GlucoTrack DF-F offers users yet
another important advantage to using our device, and are continuing to
market GlucoTrack to additional distributors who can offer our new,
noninvasive option for monitoring blood glucose to diabetes patients.”
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 small 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 (June 2013) 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 GlucoTrack®
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 small 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 (June 2013) 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 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