Arrayit Corporation (OTC: ARYC) held a successful meeting with DHK Medical Products CEO in California. DHK Medical Products offers technologically advanced products and services for the healthcare sector in India.
Following the meeting, Arrayit is confident of doing significant business with DHK Medical. The company believes that there is potential to generate $3 million from selling its tests to DHK Medical in the first year. Sales could increase to $5 and $8 million in the second and third year respectively, and go up to $10 million annually thereafter.
ARYC and DHK Medical signed an exclusive three-year distributorship agreement, under which DHK Medical will sell ARYC's genomic tests in India, one of the fastest growing healthcare markets in the world.
DHK plans to offer Arrayit's genomic testing services through a planned expanding network of 800 American Medical Center (AMC) facilities, staffed with medical doctors, nurses, pharmacists and other highly trained personnel. DHK Medical plans to provide walk-in medical services through its AMC facilities.
DHK will use Arrayit's patented and proprietary Variation Identification Platform™ (VIP) microarray technology and blood card collection procedure to offer genomic testing.
ARYC's VIP microarrays identify single nucleotide polymorphism (SNP) variants in a patient's DNA code in a rapid, affordable and highly accurate manner. DHK expects significant sales during the three-year contract. According to estimates given by DHK, ARYC could generate revenue of $16.8 million from the three-year contract.
Arrayit's technology is empowering DHK to capture the fast-growing Indian healthcare market by providing DNA testing services and unprecedented genomic information to medical professionals in real-time and on-location.
