SOURCE: 800 Commerce, Inc.

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December 09, 2015 08:30 ET

800 Commerce Inc. Announces Executed Letter of Intent for Acquisition of BioSense Medical Devices LLC

Georgia Based Company Is Transforming the Way Diabetes Is Managed, by Leveraging Technology, Data, and Partnerships With Healthcare Providers and Payers to Improve Health Outcomes for People With Diabetes

LOS ANGELES, CA--(Marketwired - December 09, 2015) - 800 Commerce Inc. (OTC PINK: ETHG), a fully reporting company and provider of merchant processing and mobile commerce solutions, today announced that the Company has agreed to acquire all the assets of BioSense Medical Devices LLC, (www.biosensemd.com) based in Duluth, Georgia. BioSense is a global medical device and healthcare data management company generating multi-million dollars in sales revenue through direct sales and marketing operations in the US as well as major distribution partnerships in Europe, South Africa, China and Central America

Both parties have executed a Letter of Intent and are completing the Asset Purchase Agreement which will consist of a preferred stock transaction and is anticipated to close in the next few weeks.

A global surge in diabetic population, coupled with technological innovations and extensive R&D activities, has boosted the worldwide market for diabetes devices and drugs, according to a report published by Transparency Market Research. The report, titled "Diabetes Devices and Drugs Market -- Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", indicates that registering a CAGR of 5.9% from 2013 to 2019, the global diabetes devices and drugs market is likely to grow from US$54.04 billion in 2012 to US$83.0 billion in 2019.The diabetes devices market is bifurcated into insulin delivery devices and diabetes monitoring and diagnostic devices. The major diabetes monitoring and diagnostic devices include glucose test strips, analog glucose meter, continuous glucose monitoring devices, and lancets and lancing devices. By the end of 2019, test strips are anticipated to be the leading segment while continuous glucose monitoring devices will be the most rapidly growing segment.

BioSense is transforming the way diabetes is managed by leveraging technology, real time data, and partnerships with healthcare providers and payers to improve health outcomes for people with diabetes. The Company is focused on improving the experience for people with diabetes, the professionals who care for them, and the groups who pay for their care. By offering the right information, tools and support, at the right time, the company empowers people with diabetes to live better and improve their health while reducing the cost of care.

The Company provides a comprehensive diabetes solution consisting of a suite of fully audible glucose meters that transmit data to the cloud to a connected health solution that enables healthcare providers to follow the progress of people with diabetes and, more importantly, improve behavior and health outcomes. The Connected Health Platform provides a secure end to end solution for diabetes management for storing, processing, managing and reporting data in the cloud.

The company offers the first cellular-enabled fully audible two way interactive blood glucose meter cleared by FDA. The device captures a user's blood glucose data and uploads it to a cloud-based platform where historical data, clinical rules and predictive modeling are used to convert it into useable information and support. This data can also be shared with anyone in the user's care team, who can provide real-time feedback and assistance via push notification, text, email or phone.

"We are extremely excited to reach this agreement with 800 Commerce," said Greg Santulli, CEO of BioSense. "The healthcare industry is fragmented and can benefit from an integrated solution that supports the effective treatment of people with diabetes. Biosense expects to become a leader in the Connected Health arena, and this acquisition will enable us access to the public markets for additional funding to support our aggressive growth strategy."

B. Michael Friedman, CEO of 800 Commerce Inc., stated, "The previously announced acquisition of the winery property has expired and did not meet the due diligence process. We are pleased to be acquiring BioSense and moving in a direction that is aligned with the original 800 Commerce strategy focusing on mobile and healthcare IT." The transaction once complete, will bring several million dollars in revenue to the new company accretive to earnings per share.

The corporate offices and employees of BioSense will remain in Duluth, Georgia and will initially operate as a wholly owned subsidiary of 800 Commerce. Both Companies expect the acquisition will close within the next several weeks.

The Market For Diabetes

Diabetes is a disease in which the body does not produce or properly use insulin. Insulin is a hormone that is needed to convert sugar, starches and other food into energy needed for daily life. The cause of diabetes continues to be a mystery, although both genetics and environmental factors such as obesity and lack of exercise appear to play roles.

Diabetes affects 25.8 million Americans and is the 7th leading cause of death in the United States. With diabetes, the body cannot produce or use the hormone insulin effectively, causing a buildup of glucose, or sugar, in the blood. It is estimated that approximately 79 million Americans over the age of 20 years old are at risk for developing diabetes, largely due to obesity, physical inactivity and poor diet. People with diabetes who take insulin must monitor their blood glucose levels frequently. Uncontrolled glucose can cause health complications and even death. Continuous glucose monitoring is considered the most significant breakthrough in diabetes management in the past 40 years.

About Biosense

BioSense Medical Devices (www.Biosensemd.com) is a global medical device and cloud based data management company that was founded with one mission in mind. To bring innovative, solution-based, healthcare products to the market that improve the quality of life in the customers we serve. Our inspiration is to design, develop, and market products that encourage and improve overall health through customer service, education, and innovation.

The company's goal is to establish the BioSense Connected Health Platform as the most comprehensive and integrated solution on the market. The company offers a suite of products to support entire populations of diabetics across the risk spectrum. Key products include:

A Fully Audible Talking Blood Glucose Meter
SOLUS V2

Cellular Enabled, Talking Blood Glucose Monitor
SOLUSmobile

Connected Health Platform
MyMeterLink
Cloud-based technology delivers two way data transfer enabling communication for all members of the team, Patient, Physician, Payer, Family, etc.

About 800 Commerce
800 Commerce, Inc. (www.800commerce.com) was founded for the purpose of marketing credit card processing services on behalf of merchant payment processing service providers. The Company generates revenue from the marketing of credit processing services by way of fees received from merchant payment processing service providers on whose behalf the Company brokers their processing services.

FORWARD-LOOKING DISCLAIMER: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 800 Commerce, Inc. to be materially different from the statements made herein.

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