XTend Medical (XMDC) Signs Exclusive Distribution Agreement With Diabetes Detection, Inc., A Silicon Valley Company
Posted on: Friday, 28 September 2007, 12:01 CDT
XTend Medical Corporation (PINKSHEETS: XMDC) announced the company has signed an exclusive distribution agreement with Diabetes Detection, Inc. of Palo Alto, CA, manufacturer of medical testing devices.
Under the terms of the agreement, XTend will sell and distribute all medical device products developed by DDI for use in the early detection of diabetic neuropathy. Neuropathy detection is used to determine the extent to which diabetic patients lose feeling in their outer extremities. DDI's current medical testing device was developed in a pager unit wherein physicians have a mobile medical device that can check the vibration threshold of the patient, thereby determining their neuropathic loss. This can help the physician in determining the proper course of treatment to minimize any further damage to the patient's extremities and lower patient costs significantly.
"We're extremely pleased to finalize this agreement with DDI. Our company now has an additional medical device to market and sell to major healthcare companies so they can diagnose neuropathy levels in patients and assist in preventing further damage to the patient, while saving the managed care companies additional costs of patient care. With the global market of diabetic neuropathy increasing, the potential sales of this unit alone in the U.S. could well exceed $150 million over the next 3-4 years," stated Mr. Paul D. Lisenby, Chairman and CEO of XTend Medical.
For more information about DDI, please log onto www.diabetesdetectioninc.com
Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Company Contact: FutureTechIR for BioPharmetics Investor Relations (817) 812-2105
SOURCE: XTend Medical Corporation
Source: MARKET WIRE
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