- genStrip sales powered by changes in medicare and private insurance reimbursements moving demand away from mail order pharmacy models.
- company to focus on neighborhood pharmacies who can now ensure profit by servicing medicare patients who have lost mail order pharmacy service.
- chain pharmacy and other large retailers looking to buy genstrip for retail sales and to add genstrip to service the medicare walk-in patients.
Los Angeles, CA, - (Accesswire - October 31, 2013 ) - Decision Diagnostics Corp. (OTCBB: DECN), the exclusive worldwide sales, service and regulatory processes agent for the popular Shasta GenStrip(TM), the unique Green Glucose Test Strip, specifically designed to work with the Johnson & Johnson's (NYSE: JNJ) LifeScan Ultra family of glucose testing meters, today announced that beginning Friday October 25 and continuing every business day since, its Pharma Tech Solutions subsidiary has completed the first GenStrip bulk shipments to large box distributors of GenStrip, ahead of schedule, and in quantities greater than expected. More shipments are planned as soon as additional volume is available.
Keith Berman, Principal Executive Officer of Decision Diagnostics, commented, "Beginning in July 2013, Medicare changed its reimbursement practice with a goal of lowering the cost of healthcare. These changes have had the impact of moving the market away from mail order pharmacy fulfillment models, which have dominated the last decade, and back toward traditional brick and mortar pharmacies. The GenStrip business model works very well in the post July 2013environment and has provided us with an unexpected boom for our business."
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(TM) product was first introduced to the market in late 2012 as a lower cost (50%) glucose test strip alternative for user/owners of Johnson and Johnson LifeScan OneTouch® Ultra®, Ultra2(R) and Ultra Mini(R) glucose meters.
Mr. Berman concluded, "we also note that in August and September 2013 we received several favorable court rulings and our competition ended their practice of sending threatening letters to our customers. Earlier this week we announced the receipt of a $12.5 million non-dilutive credit line, adding to the positive outlook for Genstrip sales by allowing us to grow to $250+ million in sales."
The company also reminds shareholders and all interested parties that it continues to air its new commercial video titled "GenStrip: A Patchwork of Life." The company’s video will begin play today. As soon as the media company produces the complete media schedule, we will post this schedule on our Web Sites. In the meantime the extremely popular video is available for viewing at: http://shastagenstrip.com/shasta_ad.html or http://youtu.be/zzBuHxb-rlM
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.shastagenstrip.com.
GenStrip(TM) test strips are a product of Shasta Technologies, LLC and are not manufactured, distributed, endorsed, or approved by nor associated with LifeScan(R), Inc. a Johnson & Johnson(R) Company, manufacturers and distributors of the OneTouch(R) Ultra(R) Family of Meters and OneTouch(R) Ultra(R) test strips.
Decision Diagnostics Corp.