LOS ANGELES, CA--(Marketwired - Apr 14, 2016) - Decision Diagnostics Corp. (OTC PINK: DECN), the manufacturer, quality plan administrator and the exclusive worldwide sales, service and regulatory processes agent for GenStrip™ 50 and the GenUltimate™ glucose test strips, both designed to work with the market leading Johnson & Johnson's ("J&J") LifeScan OneTouch Ultra family of glucose testing meters, and the in-development GenSure™ and GenChoice™ glucose test strips targeted to the U.S. and/or developing world markets, today announced the execution of a broad representation agreement with Retail Monster, LLC, a retail and marketing specialist firm with offices in CA, AR, FL, and NY.
Retail Monster's management team has extensive A+ brand experience, with a proven track record of creating pathways for exciting brands, including over the counter pharmaceuticals like GenStrip 50 and GenUltimate, into the world's biggest retailers. Retail Monster's retail customer revenue equates to over $30B in sales over the last decade.
Keith Berman, Principal Executive of DECN commented, "We have now advanced to the stage where we can comfortably redirect the preponderance of our focus from the long standing and successful legal defense of false allegations related to our "Gen" family of blood glucose test strips. Although never absent from our planning and operations, many intended activities and associations were forced to be temporarily held in abeyance. They no longer now need to be restrained. We are beginning a full scale frontal assault on the domestic retail market immediately."
The four year agreement with Retail Monster charges them with executing and managing DECN's existing massive retail contract; completing negotiations and finalizing agreements in varied degrees of completion; introducing the company's "Gen" family of diabetic test strips to unexplored retail venues, and pursuing opportunities in new retail markets.
Mr. Berman continued, "Retail Monster is the ideal agent at the optimum moment to embrace our Gen products and advance them throughout the retail environment. Their management and staff are deeply experienced in the retail market with impressive success moving brands from obscurity to presence, growth and rapid expansion. They know the business intimately; they have personal relationships throughout the organizational chains of the primary US retailers and boast extraordinary sales results with each of their clients. It is certainly a testimony to the appeal of our products that we have been able to conclude this agreement. Retail Monster management stipulates the rigid condition that they fully believe in the future success of any product that they adopt. We feel the same way about the agents that we engage."
Michael Connolly, President and Founder of Retail Monster, commented, "We are thrilled to partner with Decision Diagnostics Corp. on game-changing retail programs. We have identified and memorialized exclusive arrangements to contract with 17 retailers in the U.S. and Canada. Our pitch is going to be that the Gen family of products offer consumers everywhere optimal tools for glucose testing, and our team will ensure that these products are available at retailers around the world."
Mr. Berman concluded, "Retail Monster additionally offers a roadmap to opening an international retail presence in United Kingdom, France and Spain and have been contracted with us accordingly. Over the last year our Pharma Tech subsidiary has invested considerable resources in satisfying international regulatory requirements to secure a CE mark to market its products throughout the European Union, and approval with Health Canada to market in Canada. Those regulatory efforts are expected to be rewarded and Retail Monster will be unleashed to open European distribution through its retail partners in the aforementioned countries."
This release contains the Company's forward-looking statements which are based on manage-ment's current expectations and assumptions as of April 14, 2016, regarding the Company's business and performance, its prospects, current factors, the economy and other future conditions and forecasts of future events, circumstances and results.