SUNNYVALE, Calif., Sept. 3, 2013 /PRNewswire/ -- Listonstreetpulse.com announces that Arrayit Corporation (OTC: ARYC) held a successful meeting with DHK Medical Products CEO in California. DHK Medical Products offers technologically advanced products and services for the healthcare sector in India.
Following the meeting, Arrayit is confident of doing significant business with DHK Medical. The company believes that there is potential to generate $3 million from selling its tests to DHK Medical in the first year. Sales could increase to $5 and $8 million in the second and third year respectively, and go up to $10 million annually thereafter.
In June 2013, ARYC and DHK Medical signed an exclusive three-year distributorship agreement, under which DHK Medical will sell ARYC's genomic tests in India, one of the fastest growing healthcare markets in the world.
DHK plans to offer Arrayit's genomic testing services through a planned expanding network of 800 American Medical Center (AMC) facilities, staffed with medical doctors, nurses, pharmacists and other highly trained personnel. DHK Medical plans to provide walk-in medical services through its AMC facilities.
DHK will use Arrayit's patented and proprietary Variation Identification Platform™ (VIP) microarray technology and blood card collection procedure to offer genomic testing.
ARYC's VIP microarrays identify single nucleotide polymorphism (SNP) variants in a patient's DNA code in a rapid, affordable and highly accurate manner. DHK expects significant sales during the three-year contract. According to estimates given by DHK, ARYC could generate revenue of $16.8 million from the three-year contract.
Arrayit's technology is empowering DHK to capture the fast-growing Indian healthcare market by providing DNA testing services and unprecedented genomic information to medical professionals in real-time and on-location.
About Arrayit Corporation
Arrayit Corporation is a Sunnyvale, California-based company leading and empowering the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development, and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. The company's innovative products and services help scientists and clinicians explore the human genome as well as the genomes of plants and animals. Arrayit's products are used by nearly every major research center in the world.
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Safe Harbor Statement
Except for historical information contained herein, statements made in this release that constitute forward-looking statements are based on currently available information, involve certain risks and uncertainties and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. Risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the biomedical business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions, the outcome of our legal disputes; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Arrayit and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended December 31, 2012 and Form 10-Q for the fiscal first quarter ended March 31, 2013, Form 10-Q for the fiscal second quarter ended June 30, 2013.
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