Biosign Signs Master Distribution Agreement With DLF Solutions Inc. for Exclusive Rights in the Canadian Market
Toronto, April 16, 2010 (ots/PRNewswire)
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 http://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
Contact:
CONTACT: For further information: Radu Leca, President & CEO,
BiosignTechnologies Inc., Phone: +1(416)218-9800 ext. 234, Email:
ceo@biosign.com