PHOENIX, AZ/ ACCESSWIRE / November 13th, 2018 / BioElectronics Corporation (OTC PINK: BIEL), is a maker of advanced medical devices. Nalepka, VP of Sales and Marketing, talked with Stock Day's Everett Jolly about BioElectronics.
Jolly began the interview by asking Nalepka to give an update on his progress in advancing the electroceutical market. Nalepka reported how we are moving forward with CVS pharmacies, B. Braun's same day hip and knee replacements program, the Veterans Administration, hospices and nursing sales, and the expansion of its territorial distribution relationship with Mundipharma, International Limited.
"Internationally, we see very positive happenings. As you know, one of my responsibilities in coming on board with BioElectronics was putting real-life big-time deals on the table," stated Nalepka. "This week, I'm pleased to report the addition of 5 more Mundipharma, International Limited countries to our distribution network, and that's huge for us. What we are seeing is significant pharmaceutical makers now coming to us for the opportunities in our unique therapeutic technology."
Jolly then asked about the United Kingdom development with Braun and the National Health Services reimbursement approval.
Nalepka said, "We still have a great partner in B. Braun and their innovative surgical program which is being expanded into Braun's German and Australia markets". The 'National Health Services' current budget limitation on the number of knee and hip replacements being approved is impacting sales. Once they approved reimbursement for prescription orders, we chose to move the products behind the counter and to access all 14,000 pharmacies in lieu of a limited number of over-the-counter stores. Since free prescriptions require a physician's, nurse or a qualified pharmacists order, we are now advertising and have hired a consulting group to detail the healthcare providers and their drug formulary committees. We are confident in this promotional program. The UK clinical and economic studies show that using ActiPatch® medical devices reduces office visits 58% and medication expenses 36%.
Jolly asked Nalepka what progress has been made in the US market since his last visit. Nalepka told him that there have been positive developments. "We have a deal with CVS and that is going to be a huge inflection point for the brand. It is a 200-store test where the product is being displayed on a "Healthcare Beacon" which stands in the middle of the pharmacy where the customers can see and touch the device".
"I have been working in the pain management field for 15 years and I've never seen a product like ours," said Nalepka. "We have very strong clinical, economic, and consumer acceptance evidence that qualifies us to sell into the managed care and the reimbursable marketplaces. The opportunity that we are really proud to announce is the availability of our product for the 9 million veterans in the Veterans Administration especially our pain relief therapy for amputees. We have also initiated sales and marketing relationships to provide reimbursable medical devices for the 2.6 million hospices and nursing home patients."
Jolly then asked about where the Company goes from here and what the game plan is over the next 6 months.
Nalepka responded, "The game plan really is to get positive news from the FDA on our musculoskeletal pain, postoperative pain, and their Opioid Challenge Program. Another place we are also going to start selling this is Hospice. We've begun discussions with one of the largest Hospice providers in the country." He said here in the US their goal is to increase sales and exposure as quickly as possible. The interview ended by Nalepka saying that the Company is on a changing course in a positive way.
"We are stringing together and executing on things I've talked about in the past, and we are going to continue to do that. This product is primed and in the right place in pain management and therapy. It's a really extraordinary technology that's going to impact a lot of people," said Nalepka.
To listen to the entire interview, follow this link to the Stock Day podcast: https://upticknewswire.com/featured-interview-vp-of-sales-keith-nalepka-of-bioelectronics-corp-otcpink-biel-4/
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. For more information, please visit www.bielcorp.com
Contact:
Paul Knopick
940.262.3584
pknopick@eandecommunications.com
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company's most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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