Biomerica to Supply Two of Its Point of Care Products to Multinational Pharmaceutical Company With Over $40 Billion in Sales
January 14, 2014 - IRVINE, CA
Biomerica, Inc. (OTCBB: BMRA) announced today it will supply two of its point of care products to a multinational pharmaceutical company for distribution in one European country with the possibility of expanding into multiple other countries throughout Europe. In addition, the multinational company is considering distribution of other Biomerica point of care products. The multinational pharmaceutical company that will be distributing Biomerica's products has over $40 billion in revenues and over 70,000 employees worldwide. The terms of the agreement were not disclosed and will remain confidential.
"We are very pleased to partner with such a well known and respected company," said Zackary Irani, CEO Biomerica. "Our new partner has extensive marketing and distribution capabilities, which opens tremendous revenue opportunities for numerous products manufactured by Biomerica. Both companies are excited about the potential for these products in the market."
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance the health and well being of people, while reducing total healthcare costs. Biomerica primarily focuses is on products for Diabetes, Gastrointestinal Disease and esoteric testing.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, growth of business, favorable positions, expansion, expected orders, market capabilities, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.