SOURCE: BioPharmetics, Inc.

June 13, 2007 07:31 ET

BioPharmetics (BPMT) Enters Telemedicine, the Future of Healthcare, With Eclipse™ Blood Glucose Monitoring System

Company Signs Distribution Agreement With HMD BioMedical, Leading Manufacturer of Telemedicine Products

SUN VALLEY, CA--(Marketwire - June 13, 2007) - BioPharmetics, Inc. (PINKSHEETS: BPMT) announced today that they have signed a distribution agreement to market and sell the Eclipse Glucose Monitoring System for HMD BioMedical, a leading manufacturer of Telemedicine products. The Eclipse Glucose Monitoring System is the first of its kind in the U.S.

Under the terms of the distribution agreement, BioPharmetics, Inc. will have the ability to market and sell the Eclipse™ Blood Glucose Monitoring System. If desired, the Eclipse Meter can be coupled with the Eocene Modem, allowing patients to upload their glucose levels via telephone to a secure server accessed only by authorized physicians and insurance companies. BioPharmetics, which recently acquired 500 HME dealers through the investment of VPI into the company, will market and sell the Eclipse™ Meter and Eocene Modem, to HME dealers, insurance companies, and diabetic supply companies throughout the U.S. Puerto Rico, and Canada.

The Eclipse™ Blood Glucose Meter features include the memory to store up to 250 readings, allows for up to 100 users in a multi-patient setting, and gives accurate results in only 5 seconds.

"This distribution agreement allows BioPharmetics to enter the Telemedicine sector with the latest in glucose monitoring systems to supply to our dealer network, insurance companies, and diabetic supply companies. This also allows us to expand our product offerings and should add an additional $3-$5 million dollars in revenue over the next 12 months. In addition, we will continue to work with HMD BioMedical to offer additional telemedicine products as they become available to the U.S. market," stated Mr. Paul D. Lisenby, CEO of BioPharmetics, Inc.

For further information on the Eclipse™ Blood Glucose Monitoring System and pricing, 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 customer 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