BIG NEWS OUT CONTRACT AGREEMENT!!!
SUNNYVALE, Calif., June 26, 2013 (GLOBE NEWSWIRE) -- Arrayit Corporation (ARYC), a life sciences and diagnostics company, announced today that it has signed an exclusive three-year distributorship agreement with DHK Medical Products ("DHK") of Chandigarh India to sell Arrayit genomic tests in India. DHK will offer Arrayit genomic testing services through a planned expanding national network of 800 American Medical Center (AMC) facilities in the future and staffed with medical doctors, nurses, pharmacists and other highly trained personnel. AMC facilities will provide walk-in medical services from 7 AM to 11 PM seven days a week to support the changing Indian culture, which is experiencing rapid industrialization and upward social mobility. India is the most populous democracy in the world, with more than 1.2 billion people including 400 million residents in the increasingly affluent Indian middle class.
Arrayit and DHK will use Arrayit's patented and proprietary Variation Identification Platform(TM) (VIP) microarray technology and blood card collection procedure to provide genomic testing information to the Indian population including genetic predisposition data for hypertension, obesity, diabetes, cardiovascular disease, breast and ovarian cancer, Parkinson's Disease and other conditions. Arrayit VIP microarrays identify single nucleotide polymorphism (SNP) variants in a patient's DNA code in a rapid, affordable and highly accurate manner. DHK medical doctors will communicate the test results to patients and provide on-site counseling and treatment options for individuals predisposed to the tested conditions. DHK estimates the sale of 25,000, 50,000 and 100,000 genomic tests per year over the three-year contract, with cumulative revenue to Arrayit totaling $16.8MM U.S. dollars. Arrayit VIP technology is uniquely scalable to millions of patients in the Indian market.
Arrayit Corporation CEO Rene Schena states, "We are pleased to be working with DHK Medical Products to deliver high-quality, cost-effective genomic information to planned healthcare centers across India, with the goals of improving the lives of families and reducing healthcare costs." DHK Medical Products CEO Dr. Kaura adds, "Arrayit technology is empowering us to capture the fast-growing Indian healthcare market by offering DNA testing services and unprecedented genomic information to medical professionals in real time and on-location. The Arrayit-DHK partnership gives us the testing and clinical infrastructure required to improve healthcare in India, enabling our citizens to live happier, longer and more productive lives."
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