LiveCare Announces Middle East Expansion Initiative

Rhea-AI Summary

LiveCare, Inc. announces its Middle East Expansion Initiative, targeting the growing diabetic population in the region. The company plans to establish a local office and form a business entity registered with Dubai Health Care City to solidify its presence. The Middle East has a high prevalence of type 2 diabetes, with significant expenditure on diabetes care. LiveCare aims to partner with a local entity for a pilot program and generate revenue within the single-payer healthcare system.

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• LiveCare plans to expand its operations in the Middle East, targeting the growing diabetic population in the region. The company aims to establish a local office and form a business entity registered with Dubai Health Care City to showcase its commitment to the region. This expansion initiative presents a significant opportunity for LiveCare to tap into a market with high prevalence of type 2 diabetes and substantial expenditure on diabetes care. The company's partnership with a local entity for a pilot program and revenue generation within the single-payer healthcare system could lead to substantial growth and market traction.

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Venice, FL, USA, Oct. 24, 2023 (GLOBE NEWSWIRE) -- LiveCare, Inc. OTC:LVCE, a leader in the telehealth sector assisting people living with type II diabetes—often overlooked—become healthier and remain connected, has officially announced its Middle East Expansion Initiative.

The Middle East Expansion Initiative of LiveCare Inc. commenced with a journey to the United Arab Emirates in September, undertaken by Jack Brannelly, Feras Al Kandari, and Max Rockwell. With close to 30 years of travel experience in the region, Mr. Rockwell possesses extensive expertise in conducting business and has a depth of relationships. Mr. Al Kandari, a Kuwaiti Native, brings a tremendous level of local confidence, connections, and market knowledge. The team had several high profile meetings with local officials and business owners who are very interested in working with LiveCare.

LiveCare is in the process of solidifying its local footprint by forming a business entity registered with Dubai Health Care City (www.dhcc.ae). Through the establishment of a local company, LiveCare showcases its profound commitment to the region and its intent to assist the diabetic community. Upon completion, LiveCare plans to set up a local office to initiate its operations.

Diabetes is reaching epidemic proportions in the Arab Gulf Countries. The affliction has grown exponentially over the past five decades, attributed to swift economic development and urbanization. As per the National Center for Biotechnology Information (“NCBI”), nations in the Middle East with the most significant prevalence of type 2 diabetes include the Kingdom of Saudi Arabia (31.6%), Sultanate of Oman (29%), State of Kuwait (25.4%), Kingdom of Bahrain (25.0%), and the United Arab Emirates (25.0%). The expenditure on diabetes care in the Gulf region was nearly $17 billion in 2015, and it's projected to escalate to more than $24 billion by 2035, as recently cited in an Arabian Business article.

Board member Feras Al Kandari remarks, “The region I call home urgently requires LiveCare’s solution due to the vast segment of the population succumbing to diabetes. I take pride in being associated with a company that addresses this issue effectively. I am confident in its potential to assist locals in leading healthier lives.”

The subsequent phase in the Middle East expansion involves partnering with a local entity to conduct a pilot, anticipated to lead to a revenue-generating contract within a single-payer healthcare system. The company has already executed a non-disclosure agreement in this regard. This will be succeeded by fundraising and market awareness campaigns, aiming to garner substantial traction in markets that recognize outstanding prospects.

Stay tuned for more exciting developments.

Note: This press release contains forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934. Except for historical information, the statements in this press release are forward-looking. Words such as "may", "will", "plan", "expect", "believe", "anticipate", "intend", "estimate", and similar expressions are meant to identify such statements. These statements involve known and unknown risks and uncertainties that might cause actual results to differ from future results implied by the forward-looking statements. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this release. The Company's filings with OTC Markets provide more details on potential risks. We are not obligated to publicly update these forward-looking statements, even if new data emerges in the future.

Contact Information: LIVECARE
Phone: (800)-345-0491

FAQ

What is LiveCare's Middle East Expansion Initiative?

LiveCare's Middle East Expansion Initiative aims to target the growing diabetic population in the region by establishing a local office and forming a business entity registered with Dubai Health Care City.

What is the prevalence of type 2 diabetes in the Middle East?

According to the National Center for Biotechnology Information, nations in the Middle East with the highest prevalence of type 2 diabetes include Saudi Arabia, Oman, Kuwait, Bahrain, and the United Arab Emirates.

What is the projected expenditure on diabetes care in the Gulf region?

The expenditure on diabetes care in the Gulf region was nearly $17 billion in 2015 and is projected to exceed $24 billion by 2035.

What are LiveCare's plans for revenue generation in the Middle East?

LiveCare plans to partner with a local entity for a pilot program within the single-payer healthcare system, with the goal of generating revenue.

What is the potential impact of LiveCare's Middle East Expansion Initiative?

LiveCare's expansion in the Middle East presents a significant opportunity for growth and market traction, given the high prevalence of type 2 diabetes and substantial expenditure on diabetes care in the region.