ALRT500, a Medication and Treatment Compliance Reminder System, to Be Delivered to Wholesale and Retail Customers By Third Quarter 2006
Posted on: Thursday, 23 February 2006, 12:00 CST
ALR Technologies is pleased to announce that it has completed the development of its next-generation medication and treatment compliance reminder system, the ALRT500 and has scheduled a small-scale first production run to be delivered in the third quarter of 2006. The company has already received an overwhelming response from healthcare providers, disease management companies and private insurers and expects to sell out entirely of the first production run before its third quarter shipment. The company is expected to generate approximately $900,000 in twelve month revenue from the volume of this first production run alone.
Plans are already being formalized for larger production runs with expected delivery before year end. ALR Technologies generates its revenue from the sale of the hardware as well as monthly monitoring service fees, in addition to other product sales.
ALR Technologies' Medication Reminders have already demonstrated a 97% improvement in patients taking prescribed doses, in a study conducted by Columbia University. In addition, reduced cost of care was demonstrated by a study conducted by Missouri Medicaid. An average annual cost savings of $3,400 per diabetes was achieved for patients using a compliance reminder system compared to the control population.
About the ALRT500
The ALRT500 is a medication and treatment reminder system that prompts a person to take the necessary treatments, medications or other health related actions in addition to the appropriate dosage with caregiver instructions at the appropriate time(s) of day. The directions are displayed on a screen on the handheld sized device. It has been designed to continuously prompt a patient until notification is received that the appropriate action has been taken.
The ALRT500, in conjunction with the Home Health Monitoring System allows caregivers and healthcare providers to monitor the patient and determine if the patient is taking medications or treatments at the appropriate times. This allows the caregiver to intervene when a patient is non-compliant and may be at risk.
This reminder system was designed for patients with chronic conditions such as diabetes, heart disease, pulmonary disease, HIV, mental disorders, organ transplant, post surgery and severe asthma, or even those with less severe problems but must be compliant with medications. The ALRT monitoring system is the only system that provides monitoring of nebulizer compressors, used by COPD patients to maintain health. In early 2007, the ALRT Home Monitoring system will also have enhanced capabilities that will enable the monitoring of use and data from medical diagnostic equipment such as blood pressure and blood glucose monitors.
For more information on the ALRT500, please visit: http://www.alrt.com/PC500/index.html
About ALR Technologies, Inc.
ALR Technologies, which specializes in health and disease management products and services, has designed and manufactures medication compliance products and compliance home-monitoring and intervention systems to meet the needs for several targeted user groups. Products are now in use by patients taking medications or treatments for conditions such as hypertension, high cholesterol, Parkinsons, diabetes, organ transplant, depression, anxiety, asthma, glaucoma and more. More information on ALR Technologies and its products can be found at http://www.alrt.com.
This release contains certain "forward-looking statements" relating to ALR Tech's business, and these statements reflect the current views of ALR Tech with respect to future events and are subject to certain risks, uncertainties and assumptions. When used, the words "estimate,""expect,""anticipate,""believe" and similar expressions are intended to identify such forward-looking statements. There are many factors that could cause the actual results, performance or achievements of ALR Tech and its products to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Further management discussions of risks and uncertainties can be found in the company's quarterly filings with the Securities Exchange Commission.
Public Relations and Investor Relations Contact: Mercom Capital Group, llc tel: 1.512.828.6645 e-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=B27AE8F7930B3B97
SOURCE: ALR Technologies, Inc.
Source: MARKET WIRE
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