SOURCE: BioPharmetics, Inc.

July 10, 2007 09:37 ET

BioPharmetics (BPMT) Signs Strategic Alliance Agreement With Medical Cost Management, Inc. (MCM)

MCM to Handle Sales and Marketing to Managed Care Companies Throughout the U.S. and U.K.

SUN VALLEY, CA--(Marketwire - July 10, 2007) - BioPharmetics, Inc. (PINKSHEETS: BPMT) announced today the company has signed a strategic alliance agreement with Medical Cost Management, Inc., to handle the sales and marketing to the Managed Care Companies throughout the U.S. and the U.K.

Under the terms of the alliance, MCM will coordinate and oversee all sales and marketing of diabetic supplies and DME equipment to the Managed Care sector of the healthcare industry. The managed care sector represents the largest potential market throughout the U.S. and U.K. for BioPharmetics to penetrate and secure business.

"Mr. Jose Santoro, CEO of MCM, brings over 30 years of healthcare sales, marketing, and education experience to BioPharmetics through this alliance. Mr. Santoro lectures at Essex County College and has held numerous workshops for local school systems, unions and various Managed Care Organizations in New York, New Jersey, Pennsylvania and Delaware. Mr. Santoro was elected to serve as a Board Member in the Case Management Society of America (CMSA), NYC Chapter, and serves as the Legislative Committee Chair for the CMSA NJ Chapter. In the National arena he serves as a National Public Policy Council Member for CMSA, the Legislative Council in the National Home Infusion Association as well as the Legislative effort of The American Telemedicine Association. We're extremely excited to have Mr. Santoro represent BioPharmetics line of products to the managed care sector and look forward to MCM brining in several seven figure accounts for us over the next year," stated Mr. Paul D. Lisenby, CEO of BioPharmetics, Inc.

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