HENDERSON, NV--(Marketwired - Jan 4, 2016) - Rx Safes, Inc. (OTCQB: RXSF) the developer of autonomous fingerprint healthcare security products designed to combat drug abuse and diversion, today released a shareholder letter outlining the Company's initial growth plans for 2016.
Dear Valued Shareholders:
I would like to take this opportunity to wish you all a very happy, healthy and prosperous 2016. Last year, with very limited resources, we were able to build a strong foundation of products that serve both the consumer and professional healthcare markets, established national and global distribution channels, acquired valuable intellectual property, and we continued to look for opportunities to build company and shareholder value.
Over the next several weeks, I will be announcing the addition of new members to our executive management team consisting of proven business executives in the areas of sales, marketing, business development, engineering and manufacturing. The company first needed to establish its foundation before committing to the human capital necessary to grow the business. Some of these executives will be accompanying me to San Francisco during the JP Morgan Healthcare Conference, where we have meetings set up with a number of potential bankers, investors and business partners. In addition, our executive team will be in NYC in several weeks for investor presentations and one and one meetings. Many of these quality investors are already heavily invested in the healthcare and biotech space and typically look beyond the current company state with an eye on the long-term potential opportunity. The company has committed the necessary resources to introduce our business to these investors.
We believe our products, our technology, and our market focus on the security of controlled substances provides a unique opportunity as we offer real, effective solutions to the annual $600B problem caused by drug abuse, theft and diversion. We are one of the only companies focused exclusively on healthcare security at the end user level and have already adapted our technology into existing products as well as developed new products to control the storage and delivery of controlled substances. As such we are much farther along than most companies these investors typically support. As we continue to move to our next phase of investment, we are also presently finalizing a debt consolidation plan as referenced in previous announcements to address the outstanding convertible debt carried by the company. We will bring you additional information relating to this in the near future.
We are excited to embark on our initial revenue generation efforts for 2016 and the Company expects to soon launch its in-store retail program for the consumer focused Rx DrugSAFE™ with one of the nation's largest national pharmacy chains. I will provide you more details once that program is initiated. We believe we have the best drug security product designed for in-home use so we expect that program to be a success, as it will significantly broaden outreach to our direct, targeted customer base. We are also in the process of speaking to leading infusion pump manufacturers with established distribution channels, whose overall offerings would benefit from the security aspects our Rx SafeDOSE™ infusion pump pendant switch product, as well as having engaged in discussions with a number of pharmaceutical companies regarding our Rx MyDOSE™ needleless injector product. Once again I will be providing updates to you as these discussions progress.
We will soon be introducing a solution to address the HIPAA compliant securing of portable electronic medical records, another area of healthcare that has garnered significant investment dollars in recent years. The product is designed as a solution for hospitals and health systems to help their patient's securely transport confidential medical information between facilities, physicians and specialists. The product will be sold as an IT tool to health systems, payers and other industry stakeholders as well as promoting patient/member retention, while offering real functional value-add for the patients, members and stakeholders alike. As a company, we believe correct and accurate professionally generated medical data, including prescription drug records, will help reduce the instances of medical mistakes as well as prevent drug mis-dosing, abuse and diversion over the entire healthcare network.
In our effort to further grow our company and to secure the resources to make Rx safes, Inc. a world-class leader in our market, we have started to identify potential acquisition opportunities. We are targeting complimentary businesses with revenues and positive EBITDA, whose products and services would help drive further grow for our business and expand our client and market reach within our core target markets. The competencies of these companies include U.S. manufacturing and metal fabrication, complimentary product offerings and medical marketing and sales groups focusing on selling products and services into healthcare systems, hospitals, skilled nursing facilities, pain management clinics and the like. The company cannot guarantee that any of these potential transactions will come to fruition, but we are working hard to expand our in-house capabilities in order to serve the demand we believe we will face this year.
2015 was dedicated to rebranding and building our initial foundation of products, restructuring the company for the future, and the development of a strong business model that we believe will move the company forward quickly and bring value to all involved. 2016 is the year of execution and I am committed to make this a successful company.
I want to sincerely thank all of you who have and continue to support the company for taking the time to understand the value proposition the company offers and I look forward to continue to provide transparency and shareholder updates to you aside from the required disclosures and press releases.
I will be working hard for you all in 2016.
Lorraine M. Yarde, CEO
About Rx Safes, Inc.
Rx Safes is an emerging leader in the personal and professional healthcare drug security market. Our products incorporate proprietary autonomous fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
