OxySure Announces CE Mark Approval for OxySure Model 615
On April 2, 2014 OxySure Systems (OXYS) announced that its portable emergency oxygen device has achieved "CE Mark approval" - a critical step toward launching this low cost life-saving device in Europe.
"CE Marking in Europe is equivalent to the FDA approval in the U.S," states OxySure Chairman and CEO Julian Ross in an exclusive interview with Financial Press, "It is a rigorous 10 month process which we have successfully completed. This milestone is very significant for our company. We now have a green light to commercialize the OxySure Model 615 in all 30 countries belonging to the European Economic Area."
In Europe, 7% of hospital admissions result from respiratory causes, costing hundreds of billions of dollars. Many of these visits could've been avoided if the patients had early access to medical oxygen.
OxySure's $349 device delivers medically pure oxygen on demand from two dry powders. OxySure owns a portfolio of patents, creating a "moat" around its business.
"Now we have the ability to go ahead and tackle all the European countries," states Ross, "including Germany which is one of our predominant target markets. Basically we have 700 million new people we can sell to."
Sales of the OxySure Model 615 increased 10-fold in 2013 from the previous year to an estimated $1.6 million. OxySure's market is estimated to be ten times larger than the market for Automated External Defibrillators (AED) -- which has already sold 2 million units in the U.S. alone. The OxySure Model 615 is one quarter the cost of an AED and 300 times more likely to be used.
"We already have two distributions agreements in place for Europe," states Ross, "One with Medizon for Netherlands, Belgium and Luxembourg and a second agreement with Aero Health for the United Kingdom, Australia and New Zealand. The CE Marking triggers a minimum combined purchase of 6,750 units of OxySure Model 615 to Medizon and Aero Health in the next two years."
So, Paul - Are you going to do a follow-up press release about the stock moving lower by 11%, after your press release about the stock moving higher by 5%? Tell Julian to get his head out of his #$%$ and focus on the business rather than the stock price, before he's bankrupt in 6 months. Amateurs!
We need to chat but not via this message board.
I had a huge "AHA" moment today about OXYS. I am trying to get in touch with you
privately but can't figure out how to do this......but we need to chat.
I have been saying the same thing for the past year. The ceo is focused on the share price and does not know how to run a business. OXYS should be blowing the doors off with sales. 50 distributors with sales last quarter of $500,000---equals $10,000 per distributor in a 90 day period-THATS NOTHING.
Very sad-----you have a product that can save lives and is not be marketed.