Avalon’s Laboratory Services MSO to Launch Sales of Proprietary FDA-Registered External Male Catheter Device
August 14 2024 - 8:00AM
Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ:
ALBT), a developer of innovative cell-based technology,
cellular therapy and precision diagnostics, today announced that
Laboratory Services MSO, LLC (“LSM”) has begun manufacturing the
GeeWhiz External Condom Catheter, a patented, FDA-registered,
in-market, male incontinence device. LSM plans to launch its sales
of the GeeWhiz External Condom Catheter in the third quarter of
2024. Avalon owns a 40% interest in LSM.
According to Grand View Research, the global
male urinary incontinence market size was valued at $6.37 billion
in 2022 and is anticipated to grow at a compound annual growth rate
(CAGR) of 5.87% from 2023 to 2030. The market is expected to grow
steadily due to the increasing prevalence of incontinence, an aging
population, and advancements in product technology. This growth
reflects a broader awareness and demand for effective management
solutions for urinary incontinence among men.
“We are thrilled to introduce the GeeWhiz
External Condom Catheter to the market in the anticipated upcoming
launch,” stated David Jin, M.D., Ph.D., President and Chief
Executive Officer of Avalon GloboCare. "The GeeWhiz External Condom
Catheter represents a significant advancement in managing male
incontinence. Not only is this device FDA-registered and approved
for reimbursement by Medicare, but it is also supported by several
private insurance providers.”
“The GeeWhiz External Condom Catheter is
meticulously engineered to address the needs of men with urinary
incontinence and bladder control issues. Its innovative design aims
to provide enhanced comfort, security, and ease of use, ultimately
improving the quality of life for users. We are confident that this
product will meet a critical need in the market and deliver
substantial benefits to patients and healthcare providers alike.
The anticipated upcoming launch of GeeWhiz underscores our
commitment to advancing healthcare solutions and expanding our
impact in the medical device industry,” concluded Dr. Jin.
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: ALBT) is a
commercial stage company dedicated to developing and delivering
innovative, transformative, precision diagnostics and clinical
laboratory services. Avalon is working to establish a leading role
in the innovation of diagnostic testing, utilizing proprietary
technology to deliver precise, genetics-driven results. The Company
also provides laboratory services, offering a broad portfolio of
diagnostic tests, including drug testing, toxicology, and a broad
array of test services, from general bloodwork to anatomic
pathology, and urine toxicology. For more information about Avalon
GloboCare, please visit www.avalon-globocare.com.
For the latest updates on Avalon GloboCare’s
developments, please follow our twitter at @avalongc_avco
Forward-Looking Statements
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release are “forward-looking statements” within the meaning of the
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the Company and therefore involve several risks and uncertainties.
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with other similar products. Actual results may differ materially
from those indicated by such forward-looking statements as a result
of various important factors as disclosed in our filings with the
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performance, outcomes, and results may differ materially because of
more general factors including (without limitation) general
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forward-looking statements included in this press release represent
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Contact Information: Avalon GloboCare Corp.4400
Route 9, Suite 3100Freehold, NJ 07728PR@Avalon-GloboCare.com
Investor Relations:Crescendo Communications, LLCTel: (212)
671-1020 Ext. 304albt@crescendo-ir.com
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