Biomerica Launches At-Home Sample Collection for inFoods® IBS, Significantly Expanding Access for Millions of IBS Sufferers
Biomerica (Nasdaq: BMRA) has launched an at-home sample collection system for its inFoods® IBS diagnostic test, enhancing patient convenience and expanding access to millions of IBS sufferers. Using a simple finger-stick method, patients can now self-collect blood samples at home, eliminating the need for healthcare facility visits. This innovation allows the inFoods® IBS product to be offered nationwide through telehealth and online medical providers, potentially increasing product revenues. With IBS affecting one in twenty Americans and contributing to $10 billion in medical costs annually, Biomerica's new system aims to provide cost-effective, non-pharmaceutical solutions by identifying dietary triggers for IBS symptoms.
- Launch of at-home sample collection system for inFoods® IBS.
- Potential for increased revenues by reaching a broader patient population.
- Expansion of product availability through telehealth and online medical providers.
- None.
Insights
Biomerica's introduction of the at-home sample collection for inFoods® IBS marks an important milestone in providing patient-friendly diagnostic solutions. This innovation aligns with the growing trend in telehealth, which has gained substantial momentum in recent years, especially in the wake of the COVID-19 pandemic. The ability to self-collect blood samples via a minimally invasive finger-stick method can significantly reduce barriers to access for patients suffering from IBS (Irritable Bowel Syndrome).
From a clinical perspective, this development might improve patient compliance and engagement by making the diagnostic process more convenient. Many patients avoid seeking medical help due to logistical issues or the discomfort associated with medical visits. By minimizing these obstacles, Biomerica could enhance early diagnosis and personalized management of IBS, potentially improving patient outcomes.
Moreover, this approach might also foster more accurate data collection since patients can perform the test in a relaxed, familiar environment, which could lead to more reliable results.
This innovation represents a strategic move in reaching a broader market for Biomerica. The telehealth and direct-to-consumer medical testing markets have been expanding rapidly, driven by an increasing demand for convenience and the ability to manage health conditions remotely. By capitalizing on this trend, Biomerica can tap into a new segment of consumers who prefer managing their health in the comfort of their homes. This could lead to a considerable boost in company revenues.
Additionally, the ability to market the inFoods® IBS test nationally through online medical providers could expand the company's geographic reach without the need for significant infrastructure investments. This move may not only increase sales volume but also improve brand recognition and customer loyalty in the long term.
However, it is important to note that this shift to at-home diagnostics might face some challenges, such as ensuring the accuracy of at-home sample collection and addressing potential regulatory hurdles. Furthermore, Biomerica will need to focus on consumer education and build trust in the reliability of the self-collection method to drive adoption.
Biomerica's new at-home sample collection for inFoods® IBS could have significant financial implications. By eliminating the need for patients to visit healthcare facilities, this innovation could reduce overhead costs associated with in-person diagnostic services. For investors, this means potentially higher profit margins due to lower operational expenditures.
Moreover, the anticipated increase in market reach and customer base can translate into substantial revenue growth. The ability to serve a national and possibly international market through telehealth platforms is a notable advantage, offering scalability at relatively lower costs.
However, investors should consider the development and marketing costs associated with launching this new product feature. While the long-term benefits seem promising, short-term expenses might impact profit margins initially. The company will also need to navigate any regulatory requirements and ensure that the at-home collection process meets stringent healthcare standards to avoid legal and compliance risks.
- inFoods® IBS patients can now conveniently self-collect a blood sample using a simple finger-stick methodology in the privacy of their home
- inFoods® IBS test is the first of its kind to identify specific foods that can trigger an Irritable Bowel Syndrome (IBS) symptoms
IRVINE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA), a global provider of advanced medical products, is proud to announce a major enhancement to its inFoods® IBS system, aimed at simplifying and transforming the patient experience.
Empowering Patients & Physicians Through Self-Collection
The inFoods® IBS diagnostic test has made a significant advancement with the introduction of a new patient self-collection system. This innovative system utilizes a simple, minimally invasive finger-stick device that enables patients to collect their own blood samples at home, bypassing the need to visit healthcare facilities. This enhancement enables the inFoods® IBS product to be marketed and provided nationally through telehealth and online medical providers, significantly expanding access to millions of IBS sufferers who may not live near a GI physician offering the product. The Company believes this could have a significant positive impact on inFoods® IBS revenues by reaching a broader patient population.
“Our goal is to deliver cost-effective, non-pharmaceutical solutions that manage IBS by pinpointing and eliminating specific dietary triggers,” said Zack Irani, CEO of Biomerica. “This innovation is an important step to opening access to IBS patients and their healthcare providers.”
Impact of IBS and Economic Burden
The American College of Gastroenterology reports that one in twenty Americans is affected by IBS, contributing to an annual expenditure of up to
About Biomerica (NASDAQ: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica primarily focuses on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development.
About inFoods®
The inFoods IBS test is designed to assess a patient’s above normal immunoreactivity to specific foods utilizing a simple finger-stick blood sample. Instead of difficult to manage broad dietary restrictions, physicians can now use the inFoods IBS information to make targeted, patient-specific recommendations about trigger foods that, when removed from the diet, may alleviate IBS symptoms such as pain, bloating, diarrhea and constipation. The inFoods IBS test and clinical outcomes were studied at several prominent centers including Mayo Clinic, Beth Israel Deaconess Medical Center Inc. - a Harvard Medical School Teaching Hospital, Houston Methodist Hospital, and the University of Michigan. The clinical results for improvement in the Abdominal Pain Intensity (API) responder endpoint of >
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to the Company’s current and future sales, revenues, overhead, expenses, cost of goods, operations and earnings, efficacy of the Company’s products and tests, FDA and/or international regulatory authorization for the Company’s products to be marketed and sold, including the inFoods IBS product, and the Company’s other current and future products, the possible expansion into other markets, uniqueness of the Company’s products, accuracy of the Company’s tests and products, expected completion of clinical studies, pricing of the Company’s test kits, domestic and/or international market adoption and acceptance and demand for the Company’s products, future use of the Company's products by physicians to treat their patients, potential revenues from the sale of current or future products. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results, in the future, including, without limitation: earnings and other financial results; results of studies testing the efficacy of the Company’s inFoods tests and other products; regulatory approvals necessary prior to commercialization of the Company’s products; availability of the Company’s test kits and other products; capacity, shipping logistics, resource and other constraints on our suppliers; dependence on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for our various tests and other products; competition from other similar products and from competitors that have significantly more financial and other resources available to them; governmental virus control regulations that make it difficult or impossible for the company to maintain current operations; regulatory compliance and oversite, and the Company’s ability to obtain patent protection on any aspects of its diagnostic or therapeutic technologies. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally, potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.
Corporate Contact:
Zack Irani
949-645-2111
investors@biomerica.com
Source: Biomerica, Inc.
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