Fox News Reports on Black Market for Diabetic Test Strips

ALR Technologies (ALRT)

ALR Technologies, Inc. (OTCBB:ALRT), a healthcare technology company in the telehealth industry with larger peers Microsoft (NASDAQ:MFST) and Verizon (NYSE:VZ), has recently received U.S. Food and Drug Administration 510(k) clearance for its Health-e-Connect System.  There is a growing concern over black market activities of diabetic supplies for which the HeC System may provide a partial solution.

26 million Americans have diabetes. The cost of diabetes test strips can really add up. In an effort to save money, some people are turning to the internet and other sources to purchase the strips, but it’s a case of buyer beware. Health officials say that many of these black-market strips are expired and can give inaccurate readings, which can in turn damage your health. In this news story out of Baltimore, FOX News reports about the sale of diabetes test strips on the black market on Ebay and other sites. Federal investigators are cracking down and a University of Maryland School of Pharmacy expert explains the health risk:

The ALRT Health-e-Connect (HeC) System is the principal product of ALR Technologies.  The system offers a solution to documenting actual electronic strip count usage, thus reducing availability for the black market.  HeC is a web-based platform designed to assist healthcare providers caring for diabetes patients improve the compliance and management to care plans of patients through remote monitoring. ALRT plans to expand the platform to cover patients with other chronic diseases. The ALRT HeC System’s platform provides a unique communication channel that allows test strip suppliers to have feedback and dialogue with patients to encourage patients’ compliance to diabetes treatment plans. Adherence to prescribed treatment plans should improve health outcomes. The ALRT HeC System was successfully used in a clinical trial by type 2 diabetes patients on insulin as part of an intensive glucose monitoring program.

The HeC System supports data uploads from blood glucose meters manufactured by Abbott Diabetes Care, Bayer Diabetes Care, LifeScan Inc. (a Johnson & Johnson Company) and Roche Diabetes Care.

ALR Technologies (ALRT) Stock Quote and News:

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