Bioelectronics Corp (BIEL)

[InvestInBiel]

"Bottom line: BIEL is never going to the moon and the train is never leaving the station and the tsunami is never coming to shore UNLESS somebody figures out how to sell a ton of ActiPatch, and it's quite clear that KT Tape is not interested in trying very hard."


DECEMBER 15, 2020 BLOG, NEWS, PRESS RELEASES 
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BioElectronics Executes Distribution Agreement with KT Health, LLC for North American Retail Market FREDERICK, MD, Dec. 15, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — BioElectronics Corporation (OTC PINK: BIEL), (www.bielcorp.com) is pleased to announce that it has executed an OEM agreement with KT Health, LLC to bring its innovative pain management devices to encompass retail and e-commerce distribution throughout North America, as well as several additional key international markets.

The agreement incorporates BioElectronics’ ActiPatch® technology into KT Health’s KT Recovery+® product line, which will be marketed under the proprietary trade name KT Recovery+ Wave™. KT Health will leverage BioElectronics’ FDA 510(k) clearance to market, promote, and distribute the devices for the treatment of general musculoskeletal pain. As part of this agreement BioElectronics will cease active promotion of the brand name ActiPatch in North America. Existing channel partners in the USA will continue promoting the ActiPatch brand name, while BioElectronics will continue expanding its network of international distributors for ActiPatch.

Keith Nalepka, VP Sales and Marketing for BioElectronics, said, “This is an amazing win for our Company. KT Recovery+ Wave™ combines our drug-free pain relief technology with the brand power and adhesives expertise of the recognized leader in drug-free pain treatment and recovery. Consumers will be able to easily place the KT Recovery+ Wave™ device anywhere on the body to treat musculoskeletal pain. We believe KT Health is an excellent match for our technology and can effectively leverage its large customer base that is already comfortable with wearables.”

Greg Venner, CEO of KT Health, commented, “We are extremely pleased to be partnering with BioElectronics on such an innovative and effective product. KT Recovery+ Wave™ allows KT Health to broaden our drug-free pain relief options, expanding our product line into the chronic pain category. We look forward to a long and productive partnership with BioElectronics.”

About BioElectronics Corporation:
Headquartered in Frederick, Maryland, and founded in 2000, BioElectronics Corporation is the leading company in the field on non-invasive electroceutical medical devices. BioElectronics is the maker of disposable, drug-free, pain therapy devices: ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Therapy for postoperative pain and chronic wound care.

About KT Health, LLC:
Based in American Fork, Utah and founded in 2008, KT Health, LLC has revolutionized sports medicine with some of the most advanced drug-free pain relief and recovery products in the industry. KT Health’s products have become the athlete’s choice for drug free pain relief and injury management. The Company currently designs, develops, and distributes a variety of kinesiology tape lines, including KT Tape® Original (cotton) and KT Tape® Pro™ (synthetic), as well as a line of performance and recovery products. KT Health is the largest kinesiology tape manufacturer in the world, available in 42,000+ domestic retail locations and 40 countries. For more information, visit www.kttape.com.