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CEO of ALR Technologies Sends Letter to Shareholders
| Source: ALR Technologies, Inc.
WINSTON-SALEM, NC--(Marketwire - December 19, 2007) - The following update is being released by
ALR Technologies, Inc. (OTCBB : ALRT ). It is also available online at
http://www.alrt.com.
ALR Technologies is proud to announce that the Company will make its first
shipment of the Constant Health Companion™ ("CHC™") on January 11,
2008.
Our CHC is a comprehensive healthcare management system to facilitate
containment of healthcare costs by improving efficiency of caregivers and
efficacy of treatment plans. Patients with chronic medical conditions will
benefit from the use of the CHC. The CHC is an affordable system that
enhances treatment compliance and it is affordable and easy to use for both
healthcare professionals and patients. A unique feature of the system is
the provision of a documented audit trail for evaluation of healthcare
programs. Another feature of the system is its ability to facilitate the
transmission of information and coordination of activities between
patients, families, physicians, and healthcare providers.
A recent industry study shows that 50% of medications are not taken and
that treatment non-adherence contributes to approximately $177 billion in
excess and preventable healthcare costs annually. Home health technology
is a new and rapidly developing field to contain increasing healthcare
costs. This market is projected to grow to $35 billion by 2015.
ALRT's primary target of our marketing and sales launch is to more than 50
employer-led coalitions representing 10,000 mid- and large-sized employers
in both the private and public sectors that sponsor self-insured health
benefits to approximately 34 million employees and their dependents. These
employers are dedicated to value-based purchasing of healthcare services
through collective action. These companies are committed to improving the
value of healthcare provided through their health plans while limiting the
rising costs of healthcare for their insured. They are interested in
providing the tools for their people to take more responsibility for their
health care and assist in containing healthcare costs increases.
ALRT expects that the initial users of its CHC will be individuals
belonging to these employer sponsored health plans and suffering from one
or more chronic diseases. These patients typically receive complex
instructions given by multiple healthcare providers whose diagnostics, lab
results, diagnoses and directions are not inter-connected. There are
currently more than 130 million people in the US with one or more chronic
health conditions. The CHC system will enable patients to receive better
guidance and information thereby helping them successfully manage their
chronic health conditions
In the 4th quarter of 2007, ALRT had already introduced its CHC to some of
these companies. It will be a busy and exciting start for the Company in
2008 as several more meetings have been arranged for January to introduce
the CHC system to more of these employers. ALRT will also partner with
employer health plan managers to implement and integrate the CHC into the
employer health benefit plans thus encouraging efficient use of healthcare
resources.
I thank our shareholders for their support as we look forward with optimism
in establishing ALRT as a leader in the healthcare management market in the
New Year. With the CHC, ALRT is in position to be a leader in the US home
health technology market.
Sincerely,
Sidney Chan
Chairman & CEO
About ALR Technologies, Inc.
ALR Technologies, Inc. (ALRT) designs and manufactures health management
compliance products and monitoring and intervention systems. ALRT's primary
system, Constant Health Companion™, fills a serious gap in standard
disease management practices. It provides for continued and affordable
compliance supervision of patients after they have left the direct care of
professionals. More information on ALR Technologies and its products can be
found at http://www.alrt.com. More information about the Constant Health
Companion can be found at:
http://www.alrt.com/CHC/index.html
This release contains certain "forward-looking statements" relating to ALR
Technologies' business, and these statements reflect the current views of
ALR Technologies with respect to future events and are subject to certain
risks, uncertainties and assumptions. When used, the words "estimate,"
"expect," "anticipate," "believe," "to establish" and similar expressions
are intended to identify such forward-looking statements. There are many
factors that could cause the actual results, performance or achievements of
ALR Technologies and its products to be materially different from any
future results, performances or achievements that may be expressed or
implied by such forward-looking statements. Further management discussions
of risks and uncertainties can be found in the company's quarterly filings
with the Securities Exchange Commission