DECN Believes Its Precise Product is Set to Become Its Own Legacy System
LOS ANGELES, CA / ACCESSWIRE / October 18, 2017 / Decision Diagnostics Corp. (OTC PINK: DECN) is a manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate!™ ("Sunshine") diabetes test strip, the new internationally launched GenSure!™ ("Feather") diabetes test strip, and the clinical trial ready GenChoice!™ "Ladybug" diabetes test strip.
Additionally, DECN is in the final stages of preparation for the international pre-market launch and the filing of a 510K application with the U.S. FDA for its GenChoice!™ ("Ladybug") diabetes test strips, and the company's GenPrecis!™ ("Dragonfly") Precise glucometer and diabetes test strip, a product in advanced development and designed for use by children and for general commercial sale.
Today, we are pleased to discuss the marketplace that will greet GenPrecis!™ in late spring 2018.
Keith Berman, CEO of Decision Diagnostics, commented, "GenPrecis!™ is a panacea product which promises to provide the most accurate glucose results of all the commercially available glucose monitoring systems. GenPrecis!™, in fact, oftentimes performs as well as hospital-based multi-phasic chemistry analyzers. GenPrecis!™ is designed to exceed published performance standards for at-home glucose devices by as much as 50%, while operating in a "package" small enough to fit comfortably in the hand of an 11 or 12-year-old."
There are approximately 4.5 million Type 1 children diabetics in developed economy countries that are forced to accept and use glucose monitoring products which are designed primarily for Type II diabetics. The need for a product such as GenPrecis!™ has become even more critical and pronounced with continuous monitoring products entering the marketplace. GenPrecis!™ fills a demand vacuum by operating precisely, but by also providing wireless data exchange with parents, caregivers, and physicians in a real time manner. Parents and grandparents across the globe want to provide the best technology to their sick child? GenPrecis!™ will sell for less than $.40 per test strip around the world, about one-third to one-half of the price of legacy systems currently on the world markets. Meters for GenPrecis!™ Precise will be provided to the patient free of charge.
Mr. Berman continued, "There are approximately 28 million glucometers in use worldwide, and it is growing. Even if we benchmark with a static growth rate, DECN can still forecast a 6% market share for GenPrecis!™, by 2022. With the average usage of three test strips per day ($1.20), we believe that GenPrecis!™, could generate $155 million annually in the traditional Type II marketplaces, and an additional $110 million annually in Type 1, Gestational, and Type 1.5 marketplaces. Net profit margins are expected to be in excess of 20%.
The company's GenPrecis!™, test strip will also work with the suite of existing predicate testing meters. The company will sell its new GenPrecis!™ test strip in vials of 25, 50, and 100 strips, with the intent to keep costs lower in the intended markets, while maintaining internally defined net profit levels.
Mr. Berman concluded, "GenPrecis!™ has provided DECN with a major opportunity to become its own legacy. Our engineers were charged with the task of designing a product that will carve a technological gateway to the next decade. The result is now expected to exceed our original vision. In fact, with these panacea improvements, we will need a partner with deep pockets, international presence, and large worldwide sales forces to take on the challenge and the opportunities presented. Two of these potential partners have already found us."
ABOUT DECISION DIAGNOSTICS CORP.
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 6 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products will shortly compete on a worldwide scale with legacy manufacturers currently selling to 65+ percent of a $12 billion market.
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of October 17, 2017, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
Decision Diagnostics Corp.
Keith Berman (805) 446-2973
Joanne Broeders (305) 340-1000
SOURCE: Decision Diagnostics Corp.