SOURCE: BioPharmetics, Inc.

June 11, 2007 08:31 ET

Value Providers Inc, the Largest Manufacturer of Durable Medical Equipment Sold in the U.S., Makes Substantial Investment Into BioPharmetics, Inc.

Investment Expected to Increase BioPharmetics Sales to Over $20 Million per Year

SUN VALLEY, CA--(Marketwire - June 11, 2007) - BioPharmetics, Inc. (PINKSHEETS: BPMT) announced that Value Providers Inc, one of the largest manufacturers of Durable Medical Equipment sold in the U.S., has made a significant investment into BioPharmetics.

Under the terms of this investment, BioPharmetics will now become the exclusive distributor on all current and future VPI product lines to include Medicare reimbursed products such as wheelchairs, walkers, and various other home and healthcare products throughout the U.S., its territories and the United Kingdom. In addition, BioPharmetics will assume full responsibility to manage sales through a network of 500 dealers throughout the U.S.

The company issued the following statement, "Through this investment into BioPharmetics, Inc., the company now has a dealer network of over 500 throughout the U.S. with manufacturer pricing in place to assist our dealers in best pricing to deepen their market share and assist us in reaching our projected sales goals of close to $20 million over the next 12 months. In addition, as competitive bidding through Medicare is finalized over the next 5 months, we'll be in a prime position to capture a significant portion of the bids through the dealer network. This could have an impact on our revenues to potentially see the company reach close to $100 million in sales over the next 36 months," stated Mr. Paul D. Lisenby, CEO of BioPharmetics, Inc.

For dealers looking for guaranteed lowest product pricing for competitive bidding, please call 877-819-8701 XT 245

About BioPharmetics, Inc. (PINKSHEETS: BPMT)

BioPharmetics, Inc. provides quality durable medical equipment, diabetic supplies, and health, beauty, and anti-aging products to customers in the U.S., Canada, and over 23 countries throughout the world. The company operates three separate divisions: Biotechnology, Pharmaceuticals, and Cosmetics. The pharmaceutical division, our largest, distributes medical equipment and diabetes supplies, dispenses physician-prescribed medications through our pharmacy partners, as well as working closely with our dealer network, health care companies, and managed care facilities to provide superior pricing and customer support for Medicare, Medi-Cal, Medicaid and private insurance reimbursement programs.

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact Information

  • Contact:
    FutureTechIR for BioPharmetics
    Investor Relations
    (727) 417-9338