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American Company Spotlight
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ALR Technologies Inc. Website:
Click Here |
Information As Of November 19,
2007 |
| Exchange:
OTCBB |
Market
Cap:
15.1 Million |
| Outstanding Shares:
76 Million |
52 Low / High:
$0.04 / $0.21 |
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Price
November 19, 2007:
$0.199
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ALRT Recent Stock Quote and News:
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'In 2005, a New
England Journal of Medicine study confirmed that 33% to 69% of
medication-related hospital admissions in the US are due to
poor medication adherence, with a resultant cost of
approximately $100 billion a year.'
Overview
ALR Technologies, Inc. specializes in health and disease
management products and services, and designs and
manufactures health management compliance products and
compliance monitoring and intervention systems to meet the
needs for several targeted user groups. ALRT's system,
branded Constant Health Companion(TM), fills a serious gap
in standard disease management practices in the US. It
provides for continued compliance oversight to help keep
people healthy, whether they suffer from diabetes, heart
disease, asthma, have had an organ transplant or other
serious conditions.
Investment Highlights
- $140 billion in healthcare costs are reported due to
noncompliance of medical treatments. Limiting factors such
as cost, ease of use, and portability have been overcome by
ALRT with their system.
- ALRT has established itself as a pioneer in the disease
management compliance marketplace, with a complete variety
of medication compliance reminders and monitors. The ALRT
systems can be monitored by a healthcare provider, homecare
companies or family members and offer the essentials such of
affordability and ease of use which are necessary to develop
this market.
- ALRT’s products and services cost to the consumer is at
least 31% lower than the next least expensive system, with
the company still generating healthy margins.
- ALRT is the only company with a Nebulizer Monitoring
System; this monitoring System is patent-pending and allows
the company to dominate a marketplace of 16 million people
suffering from Chronic Obstructive Pulmonary Disease (COPD)
as well as applicability to the millions of people who
suffer from acute asthma.
- ALR Technologies, Inc. announced earlier in 2007 that
they have received their FCC license for the data
communications modem for their patient health management
compliance system, one of the crucial final steps prior to
full commercial availability.
- ALR Technologies, Inc. announced in March 2007 that
PrecisionRx Technologies & Services Inc. will begin
providing ALR Technologies' medication compliance products
to pharmacies and patients in Canada beginning in the second
quarter of 2007.
- If ALRT were to establish their nebulizer monitoring
system (the company has the only nebulizer monitoring system
in the world) with JUST 1% of the 4 million users of
nebulizers the first year revenue would be $19 million with
gross profit of approximately $14 million.
Profile
ALR Technologies Inc. is a pioneer in the emerging market
for the home health management and disease management
industry. While medical researchers and pharmaceutical
companies have been effective in developing treatments to
manage many diseases and health issues, poor medication
compliance at home, mainly forgetting when and which
medication to take, has rendered the treatments less
effective. The growing problem of patient non-adherence to
medical treatments contributes to more than $140 billion
dollars annually in excess health care costs. Health care
costs in the US currently account for 15% of the gross
domestic product and is expected to reach 25% by 2020.
ALRT has developed a technology-based "clinically proven"
system, the Constant Health Companion™ to address the
problem of patient non-adherence. The Constant Health
Companion will serve as a medication reminder for the
patients at home, monitor the patients' compliance to
prescribed medical treatments and, if necessary, facilitate
timely intervention by their health care providers.
At the present time, current US health management
practices fall far short as patients are left largely on
their own after they are discharged from the hospital, leave
the medical clinic or after the case manager leaves their
homes. The Constant Health Companion will enable remote and
continued oversight of the patients by their health care
providers. The system will provide the necessary information
for health care providers to improve treatment adherence by
their patients resulting in more favorable health outcomes
and containment of health care costs. ALRT is focused on
becoming the leader and driver of growth for the emerging
health management compliance market.
With the ALRT health management products and systems,
health care providers can now remind patients what to do at
the appropriate times, determine patients' compliance and
intervene when necessary. Improving compliance and
intervening on a real time basis will result in better
health outcome and reduce the overall cost of healthcare.
Accordingly, use of the Constant Health Companion will
realize significant return on investment. Furthermore, the
Constant Health Companion system will provide valuable
information for financial decision-making. Insurance
providers can monitor plan members' compliance and adjust
the pricing of their coverage based on adherence by the
members to prescribed health management programs.
In the course of developing the Constant Health Companion
over the past five years, the company has also developed
other spin-off compliance reminder products such as the ALRT
PC 200, and other specialized products targeting specific
health care needs.
ALRT has recently completed in-market pilots and trials
with patients suffering from chronic conditions such as
congestive heart failure, diabetes, organ transplant,
HIV/AIDS as well as with assisted living organizations and
Medicaid patients. Companies that participated in the pilots
reported significant return on investment and improved
health outcome results. These companies are also committing
to use the ALRT system in their business operations. ALRT is
starting its first full manufacturing run for product
delivery in January 2007.
It is estimated that there are 110 million people in the US
alone taking medications or treatments for chronic conditions.
According to a 1997 Health Economics analysis by the
University of Arizona’s School of Pharmacy, noncompliance of
medication contributed nearly $77 billion in excess annual
medical care cost. This number is thought to have exceeded
$140 billion in 2004. In 2005, a New England Journal of
Medicine study confirmed that 33% to 69% of medication-related
hospital admissions in the US are due to poor medication
adherence, with a resultant cost of approximately $100 billion
a year. The rate of non-compliance for a number of chronic
diseases has been documented as follows:
| Condition |
Non-compliance |
| Epilepsy |
30-50% |
| Diabetes |
40-50% |
| Hypertension |
40% |
| Asthma |
20% |
| Anticoagulants |
30% |
The next significant growth area in healthcare and the one
area to help contain/reduce costs is health management
compliance and monitoring. Currently, the marketplace for
compliance monitoring is directed to heart disease and a
select few of the other most severe ailments. The systems that
are currently available are very narrow in their focus due to
the highly targeted population, and high cost of the systems.
Compliance and monitoring of health management treatments,
medications and other activities have significant untapped
market size potential, as awareness and the availability of
affordable and user friendly effective systems are
established.
In a market size of this magnitude, just a small percentage
of market penetration can translate to significant market
potential for ALRT products. The respiratory market potential
alone includes more than 16 million people with COPD, 4
million who use a nebulizer to deliver medication to their
lungs 3 to 4 times every day. Compliance with this is
essential for maintaining quality of life and preventing rapid
deterioration. If ALRT were to establish their nebulizer
monitoring system (the company has the only nebulizer
monitoring system in the world) with JUST 1% of the 4 million
users of nebulizers the first year revenue would be $19
million with gross profit of approximately $14 million. With
several other disease conditions having equal or greater
potential, this level of revenue and profit could be achieved
in multiple population groups, such as mental illness, and
diabetes and heart disease.
Products and Services
All of ALRT’s products are tailored towards disease
management and compliance monitoring which helps to generate
better health outcome to the patient and lower the overall
cost of care to the provider. The products are affordable,
portable, and easy to use. The patient/user does not require a
PC to allow monitoring, only a phone jack; making it easy for
elderly patients.
The Company's product line consists of Medication Reminder
Devices, Compliance Monitoring Systems, Monitoring and
Intervention Systems, and a Diagnostic Test Monitoring System.
In addition, diagnostic data monitoring capability has already
been programmed in the ALRT system and will be added to the
commercial offering in the future.
Constant Health Companion™ Compliance Reminder and
Monitoring System
The Constant Health Companion™ (aka ALRT500) Compliance
Reminder and Monitoring System has been the primary
development focus of the company, as a result of qualitative
research conducted in 2000 with leaders in the healthcare
industry. The Constant Health Companion is designed to manage
the medical and health compliance needs for anyone suffering
from a chronic condition including HIV/AIDS, diabetes, cystic
fibrosis, CHF (Congestive Heart Failure) COPD, organ
transplantation, and mental health.
The Constant Health Companion, not only reminds a person to
take the necessary health management medications or other
actions at the appropriate time(s) of day but it also displays
on a LCD screen the exact actions to conduct, allows users to
access critical data such as medical clinic names and phone
numbers and any precautions from use of medications. The
Constant Health Companion makes it possible for insurance
providers, case managers and/or family members of elderly
patients to monitor a patient’s proper compliance of
medication and compliance of other disease management
activities. The system also has proven beneficial as a
reminder to caregivers in assisted living organizations - to
assist the caregiver in completing the many tasks as
scheduled.
The value of monitoring are many; including more timely
intervention which can prevent deteriorating conditions, ER
visits, etc. and prompt case managers to initiate additional
behavior education and patient training on the necessity of
adherence to their health management treatment regimen. A
study conducted by the Missouri Medicaid Program showed a
$3,400 annual reduction in cost of care for each diabetic
patient using a disease management compliance reminder.
ALRT Nebulizer Compliance Monitoring
ALRT is the only company that offers a nebulizer monitoring
system. This system will be commercially available along with
the Constant Health Companion. The Constant Health Companion
connects to a custom port at the nebulizer compressor switch,
and can be adapted to all types of nebulizers at minimal
costs. This system monitors the use of the nebulizer by:
• Recording time of day used
• Recording length of time used
• Alerting healthcare providers or caretakers when person is
noncompliant
• Allowing for timely intervention when a patient is
noncompliant
• Recording nonscheduled nebulizer events which can assist a
caregiver in better understanding a
patient’s behavior in using the nebulizer
ALRT PC200
The ALRT PC200 is the Company's second generation
medication reminder system and is currently available on the
market. The PC200 can be customized for each patient’s need
and can be programmed by their healthcare provider at the
medical clinic or by their disease management provider and
mailed directly to the patient. The PC200 is a standalone
medical reminder without the attached monitoring system. This
reminder system is light weight, easily transportable, and
gives healthcare providers a simple tool to help keep their
patients on schedule with the medication.
Specialized Products
In addition to their primary products, the company has also
developed a successful line of specialized products targeting
specific healthcare needs, including the Contact Lens
Reminder, the 48 Hour Reminder, the Weekly Reminder, and the
Monthly Reminder. These products are designed primarily for
pharmaceutical manufacturers and retail distributors. Many
medications are now offered for weekly administration and
monthly administered medications are also now available for
osteoporosis. Patients who are switched from daily to weekly
or monthly are thought to have even higher prevalence of
noncompliance.
A specialized product designed specifically for the
veterinary pharmaceutical market, the ALRT Pet Reminder, is a
medication reminder product for pet treatments and
medications. By reminding the pet owner to administer a
medication on schedule, the ALRT Pet Reminder can help
optimize a drug's therapeutic benefit to the pet. Nearly 40
million dogs and cats in the US alone receive heartworm
preventatives. The ALRT pet reminder has been shown to improve
pet owner compliance with heartworm preventives by 25%. Missed
doses of heartworm preventatives can result in the pet
contracting this potentially deadly disease.
Growth Strategy
The company’s goals are to make the ALRT compliance
monitoring systems a ‘standard operating
procedure’ (SOP) by health insurance payers and their
contracted disease and case management
companies. Progress and results to date reveal significant
recognition of need within the health insurance payer
industry, the assisted living organizations and the special
needs markets such as COPD, organ transplantation, diabetes
and heart disease. With the aging population and increasing
number of elderly due to the aging of the “boomer population”
the need for the ALRT system will continue to achieve healthy
growth as the boomers age. The increasing availability of
disease treatment and prevention remedies creates an ever
increasing need to assist the patient with the actions they
require to complete on repetitive basis. The ALRT system
provides ongoing support and continuing oversight of the
patient where current health management practices fall short.
Management
Sidney S. Chan, Chairman and Chief Executive
Officer of ALR Technologies Inc. has made a significant
contribution to the Company since first becoming involved in
August 1997. He has assisted the Company's financing and its
evolution into a public company. Most importantly, he has
also directed the Company's product development. Mr. Chan
has extensive relationships with Hong Kong
area based technology and electronic
manufacturers helping assure the availability of low cost
manufacturing and materials procurement. Mr. Chan is an
engineer and obtained his Bachelor of Engineering (Mining)
degree with distinction in Mineral Economics from McGill
University in 1973.
Stan Cruitt joined ALR Technologies as President in
2000, bringing with him more than 20 years of experience in
the pharmaceutical industry. He became President at a key
point in the Company's history, when ALRT was evaluating its
products and considering innovative uses for medication
reminders throughout the healthcare community. Mr. Cruitt
has extensive experience in the pharmaceutical industry,
where he has held numerous positions ranging from serving as
a marketing research analyst with Merck to top marketing and
management positions with Ciba and Novartis. In 1996,
Newsweek and Advertising Age recognized him as one of the
top marketers in the United States. Mr. Cruitt's experience
at building brands, markets and business is a needed fit for
ALRT. Mr. Cruitt received his undergraduate degree from
Southern Illinois University and received academic honors
during graduate study.
Jaroslav V. Tichy, Ph D, Since December, 2000, has
been Vice President of Technology for
the Company. From 1984 through 2000, Dr. Tichy was a Systems
Design Specialist with Weir-Jones Engineering Consultants
Ltd. Dr. Tichy has conducted research and lectured in a wide
range of areas including asynchronous switching theory,
signal theory and pattern recognition. In addition, he has
been involved in a number of development projects including
analog, digital and mixed circuit design, digital signal
processing and microprocessor and microcontroller based
systems. Dr. Tichy received both his Ph.D and MSc. Degrees
in Computer Technology from the Technical
University in Brno Czech Republic.
Contacts
ALR Technologies Inc.
114 M. Reynolda Village
Winston-Salem, NC 27106
Tel: 336-722-2254
Email: info@alrt.com
Investor Relations Contact:
Mercom Capital Group, llc.
Tel: 512-828-6645
Email:
investors@alrt.com
FORWARD LOOKING STATEMENTS
This report includes forward-looking
statements that reflect ALR
Technologies Inc. current
expectations about its future results, performance,
prospects and opportunities.
ALR Technologies Inc. has
tried to identify these forward-looking statements by using
words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to
a number of risks, uncertainties and other factors that
could cause ALR Technologies Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and
other factors include, without limitation, the Company's
growth expectations and ongoing funding requirements, and
specifically, the Company's growth prospects with scalable
customers, and those outlined above. Other risks include the
Company's limited operating history, the Company's history
of operating losses, consumers' acceptance, the Company's
use of licensed technologies, risk of increased competition,
the potential need for additional financing, the terms and
conditions of any financing that is consummated, the limited
trading market for the Company's securities, the possible
volatility of the Company's stock price, the concentration
of ownership, and the potential fluctuation in the Company's
operating results.
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to the business plans of the Company, within the meaning of
Section 27A of the Securities Act of 1933 and Sections 21E
of the Securities Exchange Act of 1934, and are subject to
the safe harbor created by these sections. Actual results
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