LOS ANGELES, April 18, 2011 /PRNewswire/ — InstaCare Corp.
(OTCQB: ISCR) a leading provider of prescription diagnostics, home
testing products for the chronically ill, a leading fulfillment
provider of direct to patient diabetes programs, and a leading
developer of revolutionary cell phone centric e-health
products and technologies, today announced that its operating
subsidiary, Pharma Tech Solutions, Inc., has significantly expanded
its agreement to control, manage and distribute the novel at-home
diagnostic product, the Shasta Genstrip. This diagnostic consumable
is targeted at an existing, FDA-approved platform for in-home
diabetes testing, the market leader in the $20 billion worldwide
market.
The revised and expanded agreement provides Pharma Tech
Solutions (“Pharma Tech”) with worldwide distribution rights to all
markets and complete control of the Genstrip diabetes diagnostic
product, including regulatory responsibility with the US FDA,
Medicare and Medicaid, plus the European Economic Area approval of
the mandatory “CE” (Conformite Europeenne) conformance
mark.
“This expanded agreement provides us with greater control and
significantly broadens our market opportunity, accelerating our
pathway to market and increasing the ultimate potential of this
business line,” commented Keith Berman, President of Pharma Tech
Solutions, Inc. and CFO of InstaCare. “This increased control is of
paramount importance, as it allows us to drive the regulatory
approval process and better manage the overall initiative. We are
moving with all due haste while simultaneously building a
distribution, sales and marketing infrastructure necessary to
support this game-changing product. “
This new diagnostic product will be targeted at diabetics
already a part of the world-wide at-home diabetes testing market
estimated to exceed $20 billion in 2010. Shasta Genstrip, an
alternative test strip, is c
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