FREDERICK, Md., Nov. 6, 2020 /PRNewswire/ — BioElectronics Corporation (OTC PINK: BIEL), www.bielcorp.com is pleased to announce the execution of a commercial partnership agreement with Scott Specialties Inc (SS http://scottspecialties.com/) to bring their innovative pain management devices to the retail consumer healthcare marketplace under the DonJoy® (DJO www.djoglobal.com) Advantage product line.
This commercial partnership will leverage the ActiPatch’s broad indications for use and offer an active-passive treatment combination product to treat pain, increase physical functionality and improve overall quality of life. The new products will be marketed under DJO’s DonJoy Advantage (DJA) line of orthopedic appliances and sold as an EME Knee Wrap and an EME Back Wrap,” powered by ActiPatch“. In January 2020, BioElectronics obtained a 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the drug free ActiPatch® medical device, for the indication: “adjunctive treatment of musculoskeletal pain.” With the latest clearance, ActiPatch remains the only pulsed shortwave therapy (PSWT) device with an over-the-counter clearance for treating any form of musculoskeletal pain.
Keith Nalepka, VP Sales and Marketing for BioElectronics expressed his enthusiasm for the market opportunity: “This is a great opportunity for the ActiPatch brand. We have executed on our OEM strategy by partnering with Scott Specialties this past spring and leveraging their relationship with DJO to drive ActiPatch sales. During the pandemic we have seen consumers continuing to seek alternatives to oral medicines for pain. By partnering with Scott Specialties and another soon-to-be-announced, major sports medicine company, we are confident that these innovative product offerings will meet the need for a growing demand.”
Kelly Whelan, President of BioElectronics, stated “We are thrilled to have the marketing strength of DonJoy Advantage coupled with the power of ActiPatch in products available to consumers online now at www.donjoyperformance.com. A soft launch in retail outlets is scheduled for December and the products will be promoted by DJO’s sales force in Q1, 2021.”
About BioElectronics Corporation
BioElectronics Corporation is a leader in non-invasive electroceuticals and the maker of an industry leading family of disposable, drug-free, pain therapy devices: ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; Allay® Menstrual Pain Therapy.
About Scott Specialties Inc
Scott Specialties Inc. is a Kansas-based manufacturer of orthopedic soft goods and supplies their products to global orthopedic companies.
Forward Looking Statements
Certain information set forth in this email contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this email are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Contact: Paul Knopick
940.262.3584
pknopick@eandecommunications.com
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