DECN Steps Into Role of White Knight by Offering Strategic Version of GenStrip(TM) Exclusively for Medicare Competitive Biddi...
29 May 2013 - 11:15PM
Marketwired
Decision Diagnostics Corp. (OTCBB: DECN), the exclusive worldwide
sales, service and regulatory processes agent for the Shasta
GenStrip™, the Green Test Strip, specifically designed to work with
the Johnson & Johnson's (NYSE: JNJ) LifeScan family of glucose
testing meters, announced today that the company and its subsidiary
PharmaTech Solutions, Inc. have launched a strategically packaged
version of the Shasta GenStrip™ for sale to companies who service
the "direct to patient" fulfillment (mail order and durable medical
goods) channels. This channel, estimated to command a share in
excess of 25% of all diabetes testing, takes on increased
importance as a result of Medicare's mandated competitive bidding,
which is anticipated to lower reimbursement of supplies and medical
goods for diabetics by approximately 67% beginning July 1, 2013 and
thus to lower market diversity in this important and traditional
channel.
The importance of this strategy was recently borne out by the
Center for Regulatory Effectiveness (CRE), a regulatory watchdog
founded and managed by former regulatory officials, recently wrote
that "there is no way a supplier can obtain brand name testing
supplies, employ the staff to fulfill reorders, bill Medicare, and
maintain a sophisticated fulfillment center(s) at that rate."
Further "... there will also be a tremendous ripple going through
anyone that works in the blood glucose testing space: companies
will fold, many jobs will be lost (manufacturing, sales,
fulfillment, R&D). There are companies that went out of
business when this reimbursement change was announced, they just
don't know they are out of business yet."
Keith Berman, CFO of the company and President of Pharma Tech
Solutions, stated, "Our new Mail Order/Competitive Bidding version
of GenStrip™ will offer the brand name market an alternative where
companies in the 'direct to patient' fulfillment business can offer
high quality diabetic test strips and still make a profit without
forcing diabetics to endure crippling co-payments."
DECN is a leading provider of prescription and non-prescription
diagnostics, home testing products for the chronically ill and a
premier developer of revolutionary cell phone centric e-health
products and technologies. DECN's FDA cleared Shasta GenStrip™
product was first introduced to the market in late 2012 as a lower
cost (50%) alternative for user/owners of Johnson and Johnson
LifeScan OneTouch® Ultra®, Ultra2® and Ultra Mini® glucose
meters.
Forward-Looking Statements: This release contains
forward-looking statements about our business or financial
condition that reflect our assumptions and beliefs based on
information currently available. We can give no assurance that the
expectations indicated by such forward-looking statements will be
realized. There may be other risks and circumstances that we are
unable to predict. When used in this release, words such as
"believes," "expects," "forecasts," "intends," "projects," "plans,"
"anticipates," "estimates," "will" and similar expressions are
intended to identify forward-looking statements, although there may
be certain statements not accompanied by such expressions.
For further information about Shasta Genstrip, please visit the
company's Web Sites: http://www.decisiondiagnostics.com or
http://www.genstrip.com. The company's Genstrip videos can be
viewed at http://www.pharmatechdirect.com.
GenStrip™ test strips are a product of Shasta Technologies, LLC
and are not manufactured, distributed, endorsed, or approved by nor
associated with LifeScan®, Inc. a Johnson & Johnson® Company,
manufacturers and distributors of the OneTouch® Ultra® Family of
Meters and OneTouch® Ultra® test strips.
Company Contact: Decision Diagnostics Corp. Keith Berman (805)
446-2973 info@decisiondiagnostics.com
Decision Diagnostics (CE) (USOTC:DECN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Decision Diagnostics (CE) (USOTC:DECN)
Historical Stock Chart
From Jul 2023 to Jul 2024