IRVINE, CA -- (Marketwired) -- 06/29/15 -- Biomerica, Inc. (OTCBB: BMRA) today announced that it received its first Brazilian ANVISA approvals for several of its clinical lab products. ANVISA is Brazil's equivalent to the US FDA, and is responsible for the oversight of all pharmaceuticals and medical devices in the Brazilian market. The approved products will be distributed through a new Brazilian distribution partner. Several other Biomerica product approvals are pending.
Brazil, with a population of over 200 million people, is South America's largest market for in vitro diagnostic products. It represents Biomerica's first major push into the Latin American market and should provide the impetus to further penetration of the South American continent.
"We are pleased to receive our first approvals for products in Brazil. This represents a breakthrough for the company in what should be a very lucrative market for our products. Brazil is the world's ninth largest economy, as well as one of the world's fastest growing medical device markets," said Zackary Irani, Biomerica's Chief Executive Officer.
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance the health and well being of people, while reducing total healthcare costs. Biomerica primarily focuses on products for diabetes, gastrointestinal disease and esoteric testing.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to intended launch dates, expected improvements in performance, new product introductions, sales potential, market size, continued growth, lucrative markets, breakthroughs, expected approvals, leading market positions, expanded distribution, anticipated increases in sales or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.