ROSH HA'AIN, Israel, June 26, 2017 /PRNewswire/ --
- HoMedics, the world's leading brand in medical devices and wellness products to exclusively manufacture and distribute TechCare's Novokid lice treatment products in North and South American markets
- TechCare to receive minimum $1.6 million in royalties with $150,000 up-front payment
TechCare Corp. (OTCQB: TECR), a technology company with a revolutionary delivery platform that uses vapor technology for natural health and beauty treatments, today announced it has signed a strategic partnership agreement with HoMedics, one of the world's leading brands in health and wellness products. HoMedics will manufacture, market and distribute TechCare's Novokid products in the United States, Canada, Brazil, Argentina, Colombia and Costa Rica. The products will be co-branded as HoMedics products powered by TechCare.
The global market for head lice treatments is estimated at $1.8 billion per year. 6 -12 million children get head lice each year in the US alone, causing indirect damages estimated at $1 billion per year.
Parents and children exposed to head lice are now forced to use standard pesticide based treatments that are extremely toxic, often ineffective, time consuming and expensive.
According to the Journal of Medical Entomology, 98% of lice in the US have developed resistance to existing OTC treatments and they are now referred to as "super-lice". According to the Centers for Disease Control and Prevention (CDC), existing pesticide-based solutions do not kill unhatched eggs, which will hatch and reproduce, requiring parents to apply continuous treatments.
Most current treatments contain pesticides or silicone, which are associated with a variety of hazardous side effects. Novokid, for home use, and Novokid+, for institutional use, is a non-pesticide, 100% natural, plant-based solution that eliminates lice and super lice with a 10 minute dry treatment. This compares with current treatments that required 20-40 minutes of shampooing and daily combing.
U.S.-based HoMedics is a leading brand in health and wellness. Its products are available at retailers including CVS, Walgreens, Walmart, Macy's, Amazon, Bed Bath & Beyond, Best Buy, Costco, Dillard's, JCPenney, Kohl's, Sam's Club, Sears and Target.
Novokid is comprised of a portable device which vaporizes TechCare's all-natural, plant-based solution contained in a disposable capsule, and comes with a proprietary head cap. HoMedics will manufacture the Novokid vaporizers and caps, while purchasing the disposable capsules exclusively from TechCare. HoMedics is responsible for obtaining and maintaining regulatory approval with the Food and Drug Administration in the U.S., Health Canada, in Canada, as well as the respective health regulatory agencies in other territories where HoMedics will exclusively distribute Novokid.
"Today's consumer is incredibly eco-conscious, and there is great demand for all-natural yet effective wellness solutions. As this demand has grown, HoMedics has shifted its attention to developing high-value products that are free of synthetic ingredients. Most recently, we have seen great success in the essential oil and aromatherapy category, and we are thrilled to partner with TechCare to drive innovative solutions for natural home lice treatments. Our reputation, infrastructure, and logistic excellence will enable us to maximize success for both parties," said HoMedics CEO Alon Kaufman.
"HoMedics is a powerhouse in the health and wellness products industry and we are very pleased to have them as our exclusive manufacturing and distribution partner in the U.S., Canada and other key markets in the Americas. We believe HoMedics has the expertise, resources, market reach and proven track record to help make Novokid the leading lice treatment product in the world," stated TechCare COO Shlomi Arbel.
"TechCare's core strength is creating innovative products that meet large market needs. It has been our stated strategy to partner with industry leaders in personal care and wellness to bring our products to market. This strategy enables us to generate high-margin recurring revenues from royalties and our proprietary all-natural single-use capsules," added TechCare Chairman and CEO, Zvi Yemini.
As the innovative leader in self-care, wellness and personal health products, HoMedics continues to strive to provide you with products that promote overall well being. The extensive line of personal wellness products allows you to relax your body, renew your spirit and simplify your life. At HoMedics, we believe that nothing is more important than your health. For more information on HoMedics products please visit WWW.HOMEDICS.COM
About TechCare Corp.
TechCare is a technology company engaged in the design, development and commercialization of an innovative delivery platform utilizing vaporization of various natural, plant-based compounds, to enable a wide variety of treatment solutions. Inspired by simple, natural treatments that have been used for generations. TechCare's renowned scientists combine traditional wisdom with innovative, proprietary technology and years of research to create solutions that answer the needs of today's consumers. Products scheduled for commercial launch in 2017 include Novokid and Shine.
Novokid is a revolutionary anti-lice home use device that eliminates lice, super lice and eggs with a simple 10 minute treatment with no rinsing or washing required.
Novokid is 100% natural and pesticide free.
Shine, a haircare product, rejuvenates hair by returning its natural health, shine, body and luster by cleansing the hair, the scalp, and removing residues left over from other haircare products.
Additional products are in development and slated for launch in 2018-9.
Shlomi Arbel, COO
SOURCE TechCare Corp.