Brain Scientific Partners with SysteMedic, Receives First Purchase Order for NeuroCaps in Israel

Rhea-AI Summary

Brain Scientific (OTCQB:BRSF) has announced a new distribution agreement with SysteMedic to meet the rising demand for its FDA-cleared, CE Mark-approved NeuroCap device. This partnership targets both pediatric and ICU markets in Israel, where SysteMedic will utilize the NeuroCap for two new studies. The integration of SysteMedic follows a recent partnership with MVAP Medical Supplies, enhancing Brain Scientific’s global distribution efforts. The NeuroCap is positioned as a game-changer in neurodiagnostic wearables, with significant international interest after its CE certification.

Positive

• New distribution agreement with SysteMedic targets pediatric and ICU markets.
• International demand for NeuroCap has increased following CE certification.
• SysteMedic will leverage NeuroCap in two new studies, enhancing visibility.
• Partnership with MVAP Medical Supplies strengthens global distribution.

Negative

• None.

International Markets Show Immediate and Increasing Demand for FDA-Cleared, CE Mark-Approved NeuroCap Device

LAKEWOOD RANCH, Fla., Jan. 26, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Brain Scientific (OTCQB:BRSF), a Florida-based applied science technology company, today announces a new distribution agreement with SysteMedic to meet market demand. Brain Scientific is targeting the pediatric and ICU markets for the NeuroCap in hospitals. SysteMedic plans to use the NeuroCap not only for pediatric and hospital ICUs but will also immediately leverage NeuroCaps in two new studies: one focusing on pediatric usage and the other focusing on ICU applications.

“We are very excited to bring Brain Scientific’s NeuroCap to our hospitals,” said Arik Yanco, CEO of SysteMedic. “Israel and SysteMedic are known for adopting cutting-edge technologies, and the NeuroCap will help us live up to that reputation in the field of EEG testing.”

SysteMedic, an industry leader for medical and lab supplies in Israel, will help Brain Scientific further expand its sales and distribution network to Brain Scientific’s key growth markets as Brain Scientific continues to position itself as the leader in the quickly emerging medical wearables space.

“The NeuroCap is game-changing in the neurodiagnostic wearable space,” said Hassan Kotob, CEO of Brain Scientific. “It has critical applications in pediatrics, emergency departments and ICUs, at-home care, and research. We have seen strong international demand following the CE certification of the NeuroCap, and we are happy to add SysteMedic to our team.”

The signing of SysteMedic comes on the heels of the addition of MVAP Medical Supplies, with both partnerships aimed at expanding the reach of Brain Scientific’s wearable products into key strategic markets worldwide.

About Brain Scientific

Brain Scientific Inc. (brainscientific.com) is an applied sciences technology company with multiple patents and FDA-cleared products. Brain Scientific is committed to developing next-gen solutions that advance the future of medical and OEM devices. Brain Scientific has two product lines covering neurology and precision motion. The NeuroCap™ and NeuroEEG™ are smart neurological diagnostic devices that simplify administration, shorten scan time and cut costs. The Piezo Motion product line consists of ultra-efficient compact precision motors that will drive the next generation of OEM devices. To learn more about Brain Scientific's corporate strategy, products or investor relations, please visit brainscientific.com.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of EEG products and services and piezo motor technology; (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items; (iii) the company's future financial performance; (iv) the successful integration of Piezo Motion with and into Brain Scientific; and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, over many of which the company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the company's inability to obtain additional financing; the significant length of time and resources associated with the development of products and related insufficient cash flows and resulting illiquidity; the company's inability to expand its business; significant government regulation of medical devices and the healthcare industry; lack of product diversification; volatility in the price of the company's raw materials; and the failure to implement the company's business plans or strategies. Some of these and other factors are identified and described in more detail in the company's filings with the SEC. The company does not undertake to update these forward-looking statements.

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FAQ

What is Brain Scientific's latest press release about?

Brain Scientific announced a distribution agreement with SysteMedic to expand the reach of its NeuroCap device in the pediatric and ICU markets.

What markets is Brain Scientific targeting with the NeuroCap?

Brain Scientific is targeting the pediatric and ICU markets, leveraging the NeuroCap for hospitals in Israel.

What is the stock symbol for Brain Scientific?

The stock symbol for Brain Scientific is BRSF, traded on the OTCQB.

What significance does the CE certification have for the NeuroCap?

The CE certification has led to increased international demand for the NeuroCap device, signaling its approval for use in Europe.

What other partnerships has Brain Scientific formed recently?

Brain Scientific recently partnered with MVAP Medical Supplies alongside SysteMedic to enhance its distribution network.