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KT Health OEM agreement, ActiPatch® Sales; the Run on BioElectronics Corp. (OTCPINK: BIEL)

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BioElectronics Corp. (OTCPINK: BIEL) is in full beast mode rocketing up the charts and breaking out northbound moving well into double zero land with an eye on a penny. 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. 

BIEL made a big move in December when they 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. KT Recovery+ Wave™ combines the Company’s drug-free pain relief technology with the brand power and adhesives expertise of the recognized leader in drug-free pain treatment and recovery. Consumers will be able to easily place the KT Recovery+ Wave™ device anywhere on the body to treat musculoskeletal pain. Sales have risen briskly; On January 19 BIEL reported Q4 revenue for 2020 exceeded $519,000, representing an increase of 241% when compared to Q3 revenue in 2020 ($151,956). Correspondingly, Q4 2020 revenue represents an increase of 233% when compared to the cumulative revenue of Q1 and Q2 in 2020 ($155,818). As of today, the Company has $554,074 in deferred revenue remaining on the books, at least half of which is scheduled to ship in Q1 of 2021. 

Headquartered in Frederick, Maryland, and founded in 2000, BioElectronics Corporation is the leading company 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. 

In December the Company reported it has 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. 

Keith Nalepka, VP Sales and Marketing for BioElectronics, said, “This is an amazing win for our Company. KT Recovery+ Wave™ combines our drug-free pain relief technology with the brand power and adhesives expertise of the recognized leader in drug-free pain treatment and recovery. Consumers will be able to easily place the KT Recovery+ Wave™ device anywhere on the body to treat musculoskeletal pain. We believe KT Health is an excellent match for our technology and can effectively leverage its large customer base that is already comfortable with wearables.” 

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BIEL

On January 19 BIEL reported Q4 revenue for 2020 exceeded $519,000, representing an increase of 241% when compared to Q3 revenue in 2020 ($151,956). Correspondingly, Q4 2020 revenue represents an increase of 233% when compared to the cumulative revenue of Q1 and Q2 in 2020 ($155,818). As of today, the Company has $554,074 in deferred revenue remaining on the books, at least half of which is scheduled to ship in Q1 of 2021. 

Richard Staelin, Ph.D., Chairman of the Board, said, “We believe this increase in both revenue and deferred revenue is a strong signal that the firm is moving in the right direction.”  He attributes this robust growth to the firm’s unique portfolio of products and the management’s decision to prioritize partnerships with entities that have a strong brand recognition and significant retail presence. 

Keith Nalepka, VP of Sales, commented: “We are pleased with the increase in revenue and look forward to the national retail rollout of KT Recovery+Wave™ and the DonJoy® Advantage products, Powered by ActiPatch®.  We are simultaneously bringing on more international distribution channels and ramping up our efforts to market and sell the RecoveryRx® brand domestically.” 

The managers of the firm’s two largest lenders, which are both controlled by Whelan family members, Ibex LLC and St. John’s LLC, have agreed to extend foregoing of interest due on their convertible debt notes through the end of 2021.  Kelly Whelan, President & CEO of BioElectronics, stated: “It is the goal of both BioElectronics’ management team and the Whelan family to bring the Company to profitability as swiftly as possible, for the benefit of all shareholders. The Whelan family has collectively foregone interest in excess of $750,000 in 2020, and will extend this hiatus on interest collection through at least 2021.” 

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BIEL is in full beast mode rocketing up the charts and breaking out northbound moving well into double zero land with an eye on a penny. 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. BIEL operates in the booming chronic pain market which is larger than diabetes, heart disease, and cancer combined, with 20% of adults globally suffering from chronic pain. ActiPatch addresses the unmet need for 1.5 billion worldwide chronic pain sufferers. BIEL made a big move in December when they 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. KT Recovery+ Wave™ combines the Company’s drug-free pain relief technology with the brand power and adhesives expertise of the recognized leader in drug-free pain treatment and recovery. Consumers will be able to easily place the KT Recovery+ Wave™ device anywhere on the body to treat musculoskeletal pain. Sales have risen briskly; On January 19 BIEL reported Q4 revenue for 2020 exceeded $519,000, representing an increase of 241% when compared to Q3 revenue in 2020 ($151,956). Correspondingly, Q4 2020 revenue represents an increase of 233% when compared to the cumulative revenue of Q1 and Q2 in 2020 ($155,818). As of today, the Company has $554,074 in deferred revenue remaining on the books, at least half of which is scheduled to ship in Q1 of 2021We 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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1 Comment

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    Great article! Been following BIEL for years, you nailed the huge news at Bioelectronics Corp. perfectly. This company is going to be the next big rags to riches story for many individual investors, including its dedicated posters on Investors Hub BIEL message board.

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