SINGAPORE, June 01, 2023 (GLOBE NEWSWIRE) -- ALR Technologies SG Ltd. (“ALRT”) (OTCQB:ALRTF), the diabetes management company, announces the issuance of a purchase order for the first shipment of second generation CGM hardware used in the GluCurve Pet CGM. The shipment is expected to be delivered to ALRT’s distributor in early Q3 with a sales value of USD $350,000.
“We quickly sold out of inventory during our soft launch in January due to tremendous interest in the GluCurve Pet CGM from veterinarians, pet parents, and various animal health companies. This led us to the decision to switch hardware suppliers in order to accelerate the second generation GluCurve,” said Joe Stern, Head of Animal Health at ALR Technologies SG Ltd. “While the new CGM hardware is technologically impressive, the most prudent reason for the change was manufacturing capabilities and reliability. Our new supplier has proven experience and is able to produce millions of units of CGM hardware per year giving us the ability to conduct a full-scale U.S. launch, E.U. launch, and global launch on our own timeline. In light of the switch, we will not have sales for the first half of 2023, however, this change will give ALRT the opportunity to exceed our previous outlook for full year 2023 revenue and earnings.”
In addition to removing restrictions on production volume and enhancing reliability, the second generation GluCurve is an all-in-one model which increases the ease of application, it has improved accuracy, improved Bluetooth range from 6ft+ to 20ft+, and is a quarter of the size and half the weight of the original model.
A portion of the CGM hardware shipped for the soft launch in January did not meet ALRT’s quality standards which will result in refunds or replacement units. Any replacement units along with current and future orders will be filled with second generation CGM hardware.
About ALR Technologies SG Ltd.
ALRT is a data management company that developed the ALRT Diabetes Solution, a comprehensive approach to diabetes care that includes an FDA-cleared and HIPAA compliant diabetes management system that collects data directly from blood glucose meters and continuous glucose monitoring devices, and a patent pending Predictive A1C algorithm to track treatment success between lab reports and an FDA-cleared Insulin Dosing Adjustment program. The overall goal is to optimize diabetes drug therapies to drive improved patient outcomes.
In addition, the animal health division of ALRT has developed the GluCurve Pet CGM; a solution to assist veterinarians better determine the efficacy of insulin treatments and to help to identify the appropriate dose and frequency of administration for companion animals, thereby delivering the same optimization of diabetic drug therapies to pets as to humans.
More information about ALRT and the GluCurve Pet CGM can be found at www.alrt.com and https://www.glucurve.com/Index.
Investor Contact
Investor Relations: ir@alrt.com
Animal Health Inquiries: animalhealth@alrt.com
Media: Media@alrt.com
US: +1 804 554 3500
Singapore: +65 3129 2924
ALR Technologies SG Ltd. Forward-Looking Statement
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