Biosign Signs Master Distribution Agreement With DLF Solutions Inc. for Exclusive Rights in the Canadian Market
By Biosign Technologies Inc., PRNEThursday, April 15, 2010
TORONTO, April 16, 2010 - Biosign Technologies Inc. (CNSX: BIO) ("Biosign" or the "Company"), and
DLF Solutions Inc. (DLF), today announced they have signed a binding Heads of
Agreement to enter into a Master Distribution Agreement to distribute Biosign
products in Canada through DLF Solutions Inc.
DLF Solutions Inc., a specialty logistic provider with supporting
establishment licenses, is positioned to leverage its extensive relationship
with key influencers within the healthcare industry to introduce Biosign's
revolutionary pulse-wave based diagnostic products and services to multiple
market segments in Canada.
"Establishing a strong foundation of business in our own backyard is a
critical step in the overall growth of Biosign, and we believe that DLF, with
their strong, Canadian-based healthcare experience, is the right partner to
lead these efforts." remarked Radu Leca, President and CEO for Biosign.
Terms of the Master Distribution Agreement, include, among other things,
the following:
- DLF will agree to pay $500,000 CDN to BioSign through a combination of license fee, and the purchase of UFIT units for use in pre marketing activities and ongoing sales & marketing activities. The $500,000 will be paid upon mutually agreed milestones; - Minimum sales volume commitments over the term of the Agreement, including a five (5) year growth plan achieving an expected $40M in annual revenue; - A transition of all existing resellers of Biosign products in Canada to DLF; - Exclusivity of distribution in Canada to DLF for the Biosign product portfolio for the duration of the Agreement.
"Biosign's novel approach to providing precise measurement and rapid
knowledge formation will have a material impact on the healthcare and life
sciences industries" said Mark Michalkoff, President of DLF, "one of our
professional program focuses is on the evolving strategic shift in the
pharmaceutical industry whereby pharmacists will be instrumental in
intervention, prevention and counseling, and knowledgeable in the
implementation and use of pioneering technology for patient care."
About Biosign Technologies Inc.
Biosign provides biomedical systems. Key applications include
intelligent systems for noninvasive monitoring of common health risks
associated with blood pressure, glucose, and medication. The core
technology combines measurement, analysis, and rapid knowledge formation to
support health monitoring across global markets. The UFIT(R) medical device
technology powers quality data collection and analytics for clinical
diagnostics, self-care, wellness, disease state evaluation & management, and
remote patient monitoring. For more information on Biosign please visit
www.biosign.com
About DLF Solutions Inc.
DLF Solutions Inc. is a specialty logistics and program provider to the
pharmaceutical industry in Canada. DLF specializes in program design,
development, implementation and management support to a number of
multinational pharmaceutical companies in Canada, including Triton Pharma
Inc. and Ranbaxy Pharmaceuticals Canada Inc. DLF recognizes and embraces the
evolving strategic shift in the Canadian pharmaceutical industry toward
implementation of pioneering technologies and is able leverage its extensive
relationship base in furtherance of these industry initiatives. For more
information on DLF please contact Mark Michalkoff at
m.michalkoff@dlfsolutions.ca.
The CNSX has neither approved nor disapproved the contents of this press
release.
For further information: Radu Leca, President & CEO, Biosign Technologies
Inc., Phone: +1(416)218-9800 ext. 234, Email: ceo@biosign.com
For further information: Radu Leca, President & CEO, Biosign Technologies Inc., Phone: +1(416)218-9800 ext. 234, Email: ceo at biosign.com
Tags: April 16, Biosign Technologies Inc., canada, Toronto