BodyTel Enters into Distribution Agreement With Pyramid Professional Services Pvt. Ltd. To Market GlucoTel in India
Posted on: Wednesday, 20 February 2008, 12:02 CST
BodyTel Scientific Inc. (OTCBB: BDYT), a developer of wireless telemedical devices, announces today that it has, through its wholly owned subsidiary BodyTel Europe GmbH, entered into an exclusive distribution agreement with Pyramid Professional Services Pvt. Ltd., a well known distributor of medical supplies in India. Beginning in the second quarter of 2008, BodyTel's new partner, Pyramid Professional Services intends to begin offering BodyTel's blood glucose monitoring and diabetes management system, GlucoTel™, as well as the PressureTel™ blood pressure device and the WeightTel™ weight scale, once available, in India (the "Territory"). Pursuant to the terms of the distribution agreement BodyTel granted Pyramid Professional Services the right to exclusively market the products of BodyTel in the Territory for a term of one year. Pyramid Professional Services is also responsible for all distribution, compliance and marketing costs relating to the sale of the products in the Territory.
Karthik Natarajan, Managing Director of Pyramid Professional Services states, "We look forward to introduce GlucoTel as the first product from the BodyTel product portfolio in India, it will provide diabetic patients with the ability to self-manage their disease in an innovative way. GlucoTel's ability to read and automatically record blood sugar levels together with enabling authorized caregivers to monitor and advise their patients more effectively, will contribute to better treatment. Using this innovative solution will guide the patient to a better lifestyle."
"According to the International Diabetes Federation, in 2007 India had the largest number of people with diabetes in the world, 40.9 million. Our products, together with Pyramid Professional Services impressive sales capabilities in this region, have the potential to help the patients and caregivers monitor and control the disease more effectively," stated Michael Berrendorf, Sales Director EMEA of BodyTel. "We foresee GlucoTel becoming the standard throughout India in assisting in the treatment of diabetes. We're delighted with this new partnership."
BodyTel's first market-ready product is the GlucoTel™ blood glucose meter. It is part of the GlucoTel™ system, a complete telemedical blood glucose monitoring and diabetes management system, supporting patients and doctors in the treatment of diabetes and its corollary diseases. GlucoTel™ electronically measures the blood sugar level and then sends it via Bluetooth to the patient's cell phone. After that, the data is automatically transmitted to an online database via internet connection and stored on a long-term basis. To facilitate better diabetes management, the patient and any authorized persons, e.g. healthcare professionals or caregivers, can access the data via internet at any time using a secure login.
About BodyTel
BodyTel is a German-American telehealth company that specializes in telemedical monitoring and management systems for chronic diseases. The company combines its know-how in telecommunications, internet and medical technology/diagnostics to create new products and services for the changing needs of global health. BodyTel products are designed not only to simplify home monitoring by patients, but also to ease the communication of 'measured body values' to healthcare professionals or other caregivers by bridging the gap between the patient and the caregivers instantaneously and in real-time. BodyTel's products - GlucoTel, PressureTel and WeightTel are each at different stages of development and approval processes. BodyTel holds a 50% interest in GlucoTel Scientific Inc. which holds the rights to the GlucoTel™ blood glucose meter technology.
Further information can be found at www.bodytel.com.
Forward Looking Statements
Statements in this news release that are not historical are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,""plans,""anticipates,""believes,""intends,""estimates,""projects,""aims,""potential,""goal,""objective,""prospective," and similar expressions, or that events or conditions "will,""would,""may,""can,""could" or "should" occur. Forward-looking statements in this news release include: . Beginning in the second quarter of 2008, BodyTel's new partner, Pyramid Professional Services intends to begin offering BodyTel's blood glucose monitoring and diabetes management system, GlucoTel™, as well as the PressureTel™ blood pressure device and the WeightTel™ weight scale, once available, in India, that it will provide diabetic patients with the ability to self-manage their disease in an innovative way. GlucoTel's ability to read and automatically record blood sugar levels together with enabling authorized caregivers to monitor and advise their patients more effectively, will contribute to better treatment. Using this innovative solution will guide the patient to a better lifestyle and have the potential to help the patients and caregivers monitor and control the disease more effectively, and that We foresee GlucoTel becoming the standard throughout India in assisting in the treatment of diabetes. It is important to note that the Company's actual outcomes may differ materially from those statements contained in this press release. Factors which may delay or prevent these forward looking statements from being realized include, but are not limited to those concerning the timing of regulatory approval or commercialization of its products or the achievement of any other clinical, regulatory or product development milestones or other risk factors and matters set forth in the Company's Annual Report on Form 10-KSB for the year ended February 28, 2007 and the Company's periodic reports filed with the SEC. These reports are available on our investor relations website at www.bodytel.com and on the SEC's website at http://www.sec.gov. BodyTel undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
Source: Business Wire
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