VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 31, 2013) - Response Biomedical Corp. (TSX:RBM)(OTCBB:RPBIF) ("Response" or the "Company") announced today that it has entered into a sales representation agreement with Med Tech/Med Care, a large, outsourced sales organization to provide sales and marketing representation of its RAMP®-branded Cardiovascular and Infectious Disease testing line in the U.S. Med Tech/Med Care provides national coverage to U.S. hospitals and hospital owned affiliates. Med Tech/Med Care maintains offices in both Massachusetts and Colorado.
Med Tech/Med Care will utilize its 40 person national Acute Sales Force to market RAMP® products into U.S. based hospitals that have more than 150 beds as well as into Independent Delivery Networks (IDNs) and a variety of other hospital-owned facilities. They will also engage a specialty distributor that has expertise in selling laboratory testing equipment both in local geographies and on a national scale.
This is the third and most recent U.S. based sales agreement entered into between Response and a U.S. partner in 2013. The initial term of this new agreement is three years and is renewable annually upon mutual agreement. Med Tech/Med Care will market Response's broad portfolio of tests, which currently includes its Cardiovascular tests: RAMP® Troponin I, RAMP® NT-proBNP, RAMP® Myoglobin and RAMP® CK-MB and its Infectious Disease tests: RAMP® Influenza A + B test and the RAMP® RSV test.
"This strategic agreement is the focal point of our continued penetration into the U.S. market. This partnership will exponentially expand our sales reach in the U.S. market from a very small internal sales team to a well connected and much larger sales organization providing extensive coverage in the single largest market in the world for our products." stated Tim Shannon, Senior Vice President of Worldwide Sales and Marketing for Response Biomedical Corp.
The RAMP® technology provides a portable scanning fluorescence quantitative analysis platform for near patient testing that enables rapid and robust quantitative results. The platform includes easy software upgrades, data management capabilities and unique interface options. The RAMP® Reader features a small footprint and attractive ease of use for moderate throughput settings. The RAMP® 200 Reader has innovative design features, including the multi-port capability to run up to 12 tests per hour on one module and up to 36 tests per hour, using three modules. This allows tests to be run on multiple patients simultaneously or multiple assays to be run for one patient. More information on the proprietary RAMP® technology can be found at www.responsebio.com.
About Response Biomedical Corp.
Response develops, manufactures and markets globally rapid on-site diagnostic tests for use with its RAMP® platform for clinical and environmental applications. RAMP® represents a unique paradigm in diagnostics that provides reliable laboratory quality results in minutes. The RAMP® Platform consists of a reader and single-use disposable test cartridges, and has the potential to be adapted to more than 250 medical and non-medical tests currently performed in laboratories. Response clinical tests are commercially available for the early detection of heart attack, congestive heart failure, thromboembolism (blood clots), Influenza A + B and RSV. In the non-clinical market, RAMP® tests are currently provided for the environmental detection of West Nile Virus and for Biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin.
The Company has achieved CE Marking and 510(k) clearance for Response Infectious Disease and Response Cardiovascular tests on the RAMP® Platform and its Quality Management System is registered to ISO 13485: 2003 and ISO 9001: 2008.
Response is a publicly traded company listed on the TSX under the trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol "RPBIF".
About Med Tech/Med Care.
Med Tech/Med Care is an outsourced sales organization that has been serving the healthcare industry for over 30 years. A national force of over 90 sales professionals, and an inside support team, serves the entire continuum of care. Its Ambulatory Care Team serves the physician office market and surgery centers. Its Acute Care Team serves the hospital market, dialysis clinics, and long-term care and it utilizes a team approach to effectively serve IDNs. Manufacturers contract with Med Tech/Med Care to be their field sales agents and its product portfolio includes both established and emerging medical products and devices. Med Tech/Med Care provides the simplicity and efficiency of one point of contact, support, and training to all accounts for multiple product categories. The teams have outstanding relationships with supply chain management, equipment planners, distributors, and key decision makers in health care.
Forward-Looking Statements
This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about Response Biomedical Corp. Examples of forward-looking statements in this press release include statements regarding this agreement being the focal point of our continued penetration into the U.S. market, the expansion of the RAMP® technology into U.S. based hospitals and laboratories and the impact that this expansion will have on the Company's growth in the near term and beyond. These statements are only predictions based on the Company's current expectations and projections about future events. Although the Company believes the expectations reflected in such forward-looking statements, and the assumptions upon which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct.
Readers are cautioned not to place undue reliance on forward-looking statements included in this news release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Many factors may cause the Company's actual results to differ materially from any forward-looking statement, including the factors detailed in the Company's filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our amended annual report on Form 10-K, our quarterly reports on Form 10-Q, our Current Reports on Form 8-K, our Annual Information Form and other filings with the Securities and Exchange Commission and Canadian securities regulatory authorities.
The forward-looking statements contained in this news release are current as of the date hereof and are qualified in their entirety by this cautionary statement. Except as expressly required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact Information:
W.J. (Bill) Adams
Chief Financial Officer
604-456-6010
ir@responsebio.com
www.responsebio.com