SOURCE: ALR Technologies Inc.

February 01, 2012 09:22 ET

ALR Technologies Updates Shareholders on Its FDA-Cleared Diabetes Management System

ALR Tech Meets With U.S. Business Leaders, Policymakers: Talks Focus on How Health-e-Connect Can Improve Patient Outcomes, Lower Healthcare Costs

RICHMOND, VA--(Marketwire - Feb 1, 2012) - ALR Technologies Inc. (OTCBB: ALRT) (the "Company"), a healthcare technology company, is pleased to provide shareholders with an update on corporate developments since receiving 510(k) clearance from the U.S. Food and Drug Administration for its Health-e-Connect (HeC) System for remote monitoring of patients in support of effective diabetes management programs.

As President Obama prepares to submit his 2013 budget proposal, ALR Technologies executives have been regularly meeting with business leaders and policymakers nationwide to discuss how its innovative technology platform can both improve patient outcomes and curb spending. The Company's senior leadership team is demonstrating how the company's Internet-based diabetes management platform, HeC, uniquely supports mutual priorities around improved patient care, healthcare cost-containment, accountability, and job creation.

ALR Technologies President and Chief Operating Officer Lawrence Weinstein, stated, "Health-e-Connect has enormous potential to impact the fight against diabetes, one of the most common -- and expensive -- chronic diseases facing the nation today. One in ten Americans is diagnosed with diabetes and the cost to the U.S. is estimated at $174 billion annually, according to the American Diabetes Association. Since receiving our 510(k) clearance, we have made great progress in conveying the benefits of the HeC system to elected officials and industry leaders. In late 2011, we relocated our headquarters to Richmond, Virginia, keeping us centrally located for the ongoing meetings and presentations. The relationships that we have been building is putting us closer to what we believe will be a very successful product launch in 2012."

"There are many reasons that diabetes is so costly, including disease prevalence, poor patient adherence, and lack of accountability around blood glucose self-testing supplies covered by both public and private payers," added Sidney S. Chan, Chairman and Chief Executive Officer at ALR Technologies. "Recent reports from the U.S. Department of Health and Human Services, Office of Inspector General (available to the public at http://oig.hhs.gov), indicate the loss of nearly $218 million annually from the Medicare program attributed to poor documentation around self-testing supplies. These statistics do not account for losses incurred by Medicaid or private payers. Improving accountability around diabetes self-glucose testing supplies alone could save the U.S. healthcare delivery system billions of dollars over the next five years."

Mr. Chan continued, "A recent study from the Temple University School of Pharmacy indicates that the U.S. could save up to $8.1 billion annually by improving patient adherence to diabetes treatment plans. Currently, there is very little oversight around the buying, selling and appropriate use of diabetes self-glucose testing supplies. Attempts at oversight are fragmented, primarily paper-based, and rely on unverifiable patient reporting. Our HeC system provides solutions to overcome these obstacles and potentially save the country billions of dollars while providing better healthcare for its citizens. We feel that the timing could not be better for our company and shareholders as we are emerging as a leader in the chronic disease management space."

While the Health-e-Connect platform has been initially configured to support diabetes management initiatives, the technology has vast potential to assist in the management of a variety of chronic disease therapies.

About ALR Technologies Inc.
ALRT Health-e-Connect (HeC) System is the principal product of the Company. HeC is a web-based patient management platform for medical professionals to improve compliance and management of care plans of patients in their homes. HeC is currently programmed to assist healthcare providers caring for diabetes patients. The platform will be expanded to cover patients with other chronic diseases. More information on ALR Technologies and its products can be found at http://www.alrt.com.

This release contains certain "forward-looking statements" relating to ALR Technologies' business, and these statements reflect the current views of ALR Technologies with respect to future events and are subject to certain risks, uncertainties and assumptions. When used, the words "estimate," "expect," "anticipate," "believe" and similar expressions are intended to identify such forward-looking statements. There are many factors that could cause the actual results, performance or achievements of ALR Technologies and its products to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Further management discussions of risks and uncertainties can be found in the Company's quarterly filings with the Securities Exchange Commission.

Contact Information

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