NuGen Medical Announces New Online B2C Subscription Business
Toronto, Ontario–(Newsfile Corp. – March 29, 2023) – NuGen Medical Devices Inc. (TSXV: NGMD) (the “Company” or “NuGen“) is pleased to announce its new B2C online subscription-based business to be offered at www.insujet.com will be available to consumers in the coming weeks ahead.
By utilizing fulfillment centers across Europe and Canada, we ensure fast delivery for all purchases that can be made via smartphone or our web shop with just a few clicks. The customer’s starter kit is then picked, packed, and shipped within hours, enabling a highly scalable virtual business model.
If a customer opts for a subscription model for the delivery of necessary consumables, such as adapters and nozzles, two options will be available, which will be billed quarterly. In a one or a three-year plan, the cost of goods and first shipment cost is covered entirely within the first quarter, leaving the remaining quarters as profit margins increasing from 71% to 87%. The total profit margin over 3 years including the first quarter is estimated at 76%.
“Our new online B2C subscription business brings the so-called ‘Razor Blade Model’ to the medical device space and offers a new and very attractive revenue stream for NuGen. In addition to the high margins, the revenue generated will be recurring, predictable and considered financially attractive as we build a platform-as-a-service business proposition around the InsuJet™ device. InsuJet™ provides better care to diabetics around the world and we aim to expand access to this improved level of care through our new subscription-based online offering,” commented Richard Buzbuzian, CEO. “We look forward to communicating our official launch date and related marketing to shareholders in the coming weeks. We’re all systems going now.”
InsuJet™ is currently approved for sale in 42 countries1.
Efficacy of InsuJet™ showing improved insulin uptake of upwards of 40% can be found on the Company’s website.
Clinical Studies, Certificates and Reports
For more information regarding clinical studies, certificates, or InsuJet™ reports, please visit www.insujet.com and click on the ‘Partners’ button to learn more. For more information on product testimonials, please visit www.insujet.com and click on the ‘Community’ button.
About NuGen Medical Devices
NuGen is an emerging specialty medical device company developing the next generation of needle-free technologies and other innovative medical delivery products. The company’s products, which include the InsuJet™ and PetJet™ needle-free injection systems, are designed to improve the lives of millions of people and animals. NuGen continues to receive approval in numerous countries, including Canada. NuGen’s products are designed for use in several important fields including, but not limited to, diabetes, veterinary medicine, and vaccines.
For further information, please visit:
Websites: www.insujet.com and www.nugenmd.com
Instagram: @NuGenMD
Twitter: @NuGenMD
LinkedIn: https://www.linkedin.com/company/nugenmd/
For further information, please contact:
Tony Di Benedetto
Executive Chairman
(416) 791-9399
tony@nugenmd.com
Richard Buzbuzian
President & CEO
(647) 501-3290
richard@nugenmd.com
Notice Regarding Forward-Looking Information:
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
1 https://www.insujet.com/pages/partners#insuJet-reports
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160418
