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BioElectronics Corp.: A
Solution To The 200M Soft Tissue Injury Market by Glenn
Wilkins - AllPennyStocks.com News Reporter
July 10,2006 (AllPennyStocks.com Media, Inc.) - In our
mysteriously shrinking planet, some of the most innovative
ideas for safeguarding our health and well-being involve
medicines and preventive measures that are smaller and thereby
are less obtrusive, besides being more convenient, not to
mention cheaper.
Such is the technology on which BioElectronics
(Pink Sheets:BIEL) has staked its career. The Company
out of Frederick, Maryland is in the business of creating
revolutionary new products by miniaturizing therapeutic
application disposable, cost-effective dermal patches. Among
those products is ActiPatch, recently approved by government
health officials in Canada; a drug-free, anti-inflammatory
patch for the relief of pain from stress, strains and sprains.
This is significant because in the United States alone,
there are more than 200 million tissue-related injuries a
year, resulting in significant health care costs and lost work
days. The potential market for effective therapies to combat
these injuries is around $6.5 billion (all figures in U.S.
dollars unless specified otherwise) domestically, and in
excess of $20 billion worldwide. The management of the Company
(and it appears a solid, experienced group) is of the opinion
that ActiPatch therapy represents a technological breakthrough
at what they call market disruptive prices (usually around
$50). What’s more, BioElectronics holds a sizable portfolio of
patents and other intellectual property and is at work to
develop a wide range of ActiPatch products.
ActiPatch works with an embedded battery-operated microchip
that delivers weeks of continuous pulsed therapy for less than
a dollar a day, thus providing a cost-effective,
patient-friendly method of reducing soft tissue pain and
swelling.
The ActiPatch is the Company’s first product, and has
already been cleared in the U.S. by the Food and Drug
Administration (FDA) for treatment of edema (fluid
accumulation) following blepharoplasty (plastic surgery of the
eyelids). Clearance from Washington came after successful
trial results in March.
In early June of this year, BioElectronics announced it had
launched a partnership with Brooklyn-based ProFoot for
distribution of the ActiPatch in Canada. Given the
aforementioned okay by the federal government in that country,
consumers in Canada should be able to buy the product in
retail stores by the end of the summer.
Pardon the pun, but the products are gaining a foothold on
the market, from the foot disorder sufferer to the men and
women making their living as athletes.
BioElectronics has also been busy in the sports medicine
markets, stepping up the technology on ActiPatch to address
needs among professional athletes. The Company boasts five
unique orthopedic designs aimed at working in conjunction with
other therapies team trainers and physicians already provide.
The new designs are flexible, durable and can be worn
continuously on the field of play. The Detroit Lions of the
National Football League are already stocking up on these
devices for their summer mini-camps, and at least a dozen
other clubs are investigating them, too.
President and CEO Andrew Whelan, former chief of
Physicians’ Pharmaceutical Services, head its management team
and co-founder of Drug Counters, a chain of managed care
retail pharmacies, recently sold off to another concern. Chief
Financial Officer and Vice-President Thomas O’Connor also
comes from a pharmaceutical background, having helped develop
CVS Corporation’s prescription benefits management subsidiary
and bring that company to its current $2 billion annual
revenue status. Vice President, Design and Engineering, Joe
Iglesias brings 15 years of product design, engineering and
management experience in medical devices. Still a fairly small
company, BioElectronics has realized the paramount nature of
hooking up with larger concerns for its marketing and
development efforts. In late June, the Company announced it
had signed an agreement with Washington State-based Adams
BioMedical, to establish a national network of independent
sales agents and distributors to the podiatry, orthotics and
prosthesis markets. David Adams, former marketing chief for
Trulife Incorporated, an international leader in
rehabilitative products, helms the latter company.
Now emerging from the development stage, all signs point to
BioElectronics to charge into profit territory in 2006, and
the firm has a capital requirement to carry out its business
plans. Indeed, year-over-year quarterly revenue growth has
been reported around 220 per cent.
Best news of all for bargain stock hunters, the share price
of this issue (which trades on the Over-the-Counter Pink
Sheets market under the symbol BIEL), is at the low end of a
52-week range around 20 cents, compared to an October 2005
peak of 54 cents, making it one that should be investigated
and at the earliest opportunity.
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