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Sunday, August 1, 2021

BioElectronics Corp. (OTCPINK: BIEL) Powerful Comeback Brewing as KT Health, Scott Specialties & Medi-Launch Gain Traction

BioElectronics Corp. (OTCPINK: BIEL) is heating up again in recent trading and looking to break out northbound again. Microcapdaily has been reporting on BIEL for years and covered them in triple digits back in November shortly after the Company received CE (Conformité Européenne) Mark for its ActiPatch® and RecoveryRx®.  These wearable devices can now be sold over the counter in 33 European Union (EU) countries, and many other non-EU countries like Australia that recognize the CE mark. This comes shortly after the Company acquired three 510(k) clearances from the U.S. Food & Drug Administration (FDA). Currently under heavy accumulation BIEL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.008 and its blue skies ahead.  

BIEL has been busy since executing the OEM agreement with KT Health in December; the Company is now working with their three major channel partners, i.e., KT Health and Scott Specialties in the OTC space, and Medi-Launch in the prescription medical market, to solidify new orders after strong initial product launches that took place in Q1 2021. The Company is also pushing forward on the international sales front. In addition to re-acquiring their CE mark (which allows the Company to sell in most international countries) in late 2020, it also obtained MDSAP certification in Q1 2021, which now allows for product distribution in Canada, Australia, and New Zealand. Sales have risen briskly; On April 21 BIEL reported First quarter Q1 sales were $605,675 which is 18% higher than Q4 2020 sales, and an impressive 73% of total 2020 revenue; these percentage increases not only document the Company’s strong growth, but also serve as objective evidence of effectiveness for the Company’s strategic repositioning as an OEM manufacturer. The Q1 2021 sales figure is robust, as there is over $306,000 of deferred sales incoming from signed contracts, for products that have yet to be shipped. BIEL has a mammoth shareholder base; ready liquidity and a long history of breakout moves. 

BioElectronics Corp. (OTCPINK: BIEL) is a leader in the field on non-invasive electroceutical medical devices. BioElectronics is the maker of disposable, drug-free, pain therapy devices: ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Therapy for postoperative pain and chronic wound care. The Company ActiPatch works by modulating the body’s nerve activity to dampen the pain perception, which reduces drug use. RecoveryRx will be an ideal choice in reducing postoperative pain and exposure to long-term effects of opioid/NSAID therapy. Ken McLeod, PhD. Director of Clinical Science and Engineering Research, Binghamton State University of New York, explains in a short video how the technology and ActiPatch works.  

Back in December the Company executed an OEM agreement with KT Health, LLC to bring its innovative pain management devices to encompass retail and e-commerce distribution throughout North America, as well as several additional key international markets. The agreement incorporates BioElectronics’ ActiPatch® technology into KT Health’s KT Recovery+® product line, which will be marketed under the proprietary trade name KT Recovery+ Wave™. KT Health will leverage BioElectronics’ FDA 510(k) clearance to market, promote, and distribute the devices for the treatment of general musculoskeletal pain. As part of this agreement BioElectronics will cease active promotion of the brand name ActiPatch in North America. Existing channel partners in the USA will continue promoting the ActiPatch brand name, while BioElectronics will continue expanding its network of international distributors for ActiPatch 

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BIEL

On April 19 BIEL reported Q1 2021 revenue figures, the progress on three different product launches into the OTC and medical markets, ongoing efforts to expand international distribution, and finally, new initiatives into strengthening R&D/manufacturing capabilities.   

First quarter sales were $605,675 which is 18% higher than Q4 2020 sales, and an impressive 73% of total 2020 revenue; these percentage increases not only document the Company’s strong growth, but also serve as objective evidence of effectiveness for the Company’s strategic repositioning as an OEM manufacturer. The Q1 2021 sales figure is robust, as there is over $306,000 of deferred sales incoming from signed contracts, for products that have yet to be shipped.  

Looking ahead, the Company is now working with their three major channel partners, i.e., KT Health and Scott Specialties in the OTC space, and Medi-Launch in the prescription medical market, to solidify new orders after strong initial product launches that took place in Q1 2021. Kelly Whelan, President & CEO, expressed enthusiasm, “Initial OTC feedback has been very positive, as witnessed by strong consumer reviews (averaging over 4.5 out of 5 on Amazon.com and their company websites) for both the KT Recovery+ Wave™ and DonJoy® EME products. The launch into the medical channel was slowed by the pandemic but has recently accelerated as hospitals are resuming non-emergency surgical procedures.”    

The Company is also pushing forward on the international sales front. In addition to re-acquiring their CE mark (which allows the Company to sell in most international countries) in late 2020, it also obtained MDSAP certification in Q1 2021, which now allows for product distribution in Canada, Australia, and New Zealand. Ms. Whelan also said, “We are now exploring expanding our OTC sales into more countries in the EU using the same strategy of identifying firms with strong retail experience selling their branded products into the retail market.  We hope to be able to announce the results of these conversations in the near future. In addition, through Medi-Launch, we have signed four new international distributorships contracts for our RecoveryRx line.”  

Mr. Richard Staelin, Chairman of the Board, commented, “We believe it is important to keep investing in one of our core capabilities, i.e., designing and manufacturing Pulsed Short Wave Therapy medical devices. With this in mind, we are in active talks to conduct new clinical trials both with our RecoveryRx product and extensions of our OTC devices. We are also working with our contract manufacturer to strengthen our manufacturing capabilities to accommodate for increased production, amid international volatility in raw material costs.”   

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BIEL is heating up again in recent trading and looking to break out northbound again. Microcapdaily has been reporting on BIEL for years and covered them in triple digits back in November shortly after the Company received CE (Conformité Européenne) Mark for its ActiPatch® and RecoveryRx®.  These wearable devices can now be sold over the counter in 33 European Union (EU) countries, and many other non-EU countries like Australia that recognize the CE mark. This comes shortly after the Company acquired three 510(k) clearances from the U.S. Food & Drug Administration (FDA). Currently under heavy accumulation BIEL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.008 and its blue skies ahead. BIEL has been busy since executing the OEM agreement with KT Health in December; the Company is now working with their three major channel partners, i.e., KT Health and Scott Specialties in the OTC space, and Medi-Launch in the prescription medical market, to solidify new orders after strong initial product launches that took place in Q1 2021. The Company is also pushing forward on the international sales front. In addition to re-acquiring their CE mark (which allows the Company to sell in most international countries) in late 2020, it also obtained MDSAP certification in Q1 2021, which now allows for product distribution in Canada, Australia, and New Zealand. Sales have risen briskly; On April 21 BIEL reported First quarter Q1 sales were $605,675 which is 18% higher than Q4 2020 sales, and an impressive 73% of total 2020 revenue; these percentage increases not only document the Company’s strong growth, but also serve as objective evidence of effectiveness for the Company’s strategic repositioning as an OEM manufacturer. The Q1 2021 sales figure is robust, as there is over $306,000 of deferred sales incoming from signed contracts, for products that have yet to be shipped. BIEL has a mammoth shareholder base; ready liquidity and a long history of breakout moves. We will be updating on BIEL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BIEL.

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Disclosure: we hold no position in  BIEL either long or short and we have not been compensated for this article

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