BioElectronics President, CEO, and Chairman recaps recent investor
FREDERICK, Md., May 22 /PRNewswire-FirstCall/ -- Andrew Whelan, President and CEO of BioElectronics Corporation (Pink Sheets: BIEL), the developer of ActiPatch, an FDA-cleared, drug-free anti-inflammatory patch with an embedded battery operated microchip that delivers pulsed electromagnetic therapy, today issued the following summary of its recent investor conference call, which was held in order to update investors on the substantial revenue ramp being realized by the company. This revenue growth, which is being generated by an expanding international distribution base and increased acceptance of ActiPatch within the US plastic surgery market, has resulted recent profitability on a monthly basis and is expected to continue throughout 2008 and into 2009.
The following is a summary of Andrew Whelan's comments during the conference call:
At BioElectronics we have recently completed a series of significant changes that are beginning to produce meaningful growth at the company. Over the past few quarters we have substantially changed the management team, introduced a significant number of new products, meaningfully altered our manufacturing methodology and almost completely overhauled our distribution strategy.
Sales Management Additions -- In the last half of 2007 and into 2008 we continued to fine tune our management team. The most significant additions were senior sales personnel to target both North America and Western Europe. We are very happy to have these two new senior sales executives onboard and we are already starting to see strong results from their efforts. We now have the right sales team in place to move us forward in 2008.
Manufacturing -- During 2007 we moved the bulk of our manufacturing to
China, which has significantly reduced our costs. Due to this manufacturing
change we are now able to produc
|SOURCE BioElectronics Corporation|
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