ALR Technologies Updates Shareholders on Commercial Launch of Diabetes Management System
ALR Technologies Inc. (OTCBB: ALRT) (the "Company"), a health information technology company, is pleased to provide shareholders with an update for its FDA-cleared Health-e-Connect System ("the System") for remote monitoring and chronic disease management.
In October 2011, Health-e-Connect received 510(k) clearance from the U.S. Food and Drug Administration for remote monitoring of patients in support of effective diabetes management programs. Since the FDA clearance, the System has been undergoing additional internal product review to ensure ALR Technologies and the Health-e-Connect System comply with HIPAA standards as well as all appropriate FDA and Company quality system requirements. ALR Technologies anticipates that this extensive review will be finalized this quarter; completing the Company's transition to a medical device manufacturer that is required to legally sell the Health-e-Connect System in the United States. This is imperative to ensure the security and efficacy of the patient information provided and to build shareholder value as the Company moves into the revenue stage.
In preparation for commercial roll-out of Health-e-Connect, the ALRT management team has also been actively engaged in establishing potential partnerships with a number of diabetes test supply manufacturers and distributors, insulin manufacturers, and health insurance payers to offer a unique and comprehensive program for the remote monitoring and management of patients with diabetes.
"Our approach is designed to replicate the success of the clinical trial published in Diabetes Care, August 2010 in an official product launch. We have been in meetings with the major stakeholders in the diabetes industry since receiving our clearance to determine how our System can best support and improve diabetes care and we are now forging partnerships for our product launch," commented Sidney Chan, Chief Executive Officer at ALR Technologies. "We have formulated a unique business model which, if successfully introduced, will facilitate ALR Technologies emerging as the dominant player in diabetes management. Given the parties involved and the proprietary nature of the business model, there is a high degree of sensitivity with regards to timing and disclosure. The feedback we've received to date has been tremendous and shows that Health-e-Connect is drawing strong interest. We anticipate a successful official product launch in the near term."
About ALR Technologies Inc. ALRT Health-e-Connect System ("System") is the principal product of the Company. HeC is a web based patient management platform for medical professionals to improve compliance and adherence of care plans of patients in their homes. The System is programmed to assist healthcare providers caring for diabetes patients. The platform will be expanded to cover patients with other chronic diseases. The System is not available for sale in the US pending product release. 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 Technologies' business, and these statements reflect the current views of ALR Technologies 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 Technologies 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.
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