TechCare Receives CE Mark Approval for Novokid Lice Treatment Device
Approval Clears the Way for Distribution of TechCare's Novokid Products in 28 Countries Across Europe commencing in Q4, Complementing the Company's Recently Announced Strategic Partnership with HoMedics
Aug 22, 2017, 09:00 ET
ROSH HA'AIN, Israel, August 22, 2017 /PRNewswire/ --
TechCare Corp. (OTCQB: TECR), a technology company with a revolutionary delivery platform that uses vapor technology for natural health and beauty treatments, today announced its Novokid has received CE Mark approval as a CLASS I Medical Device.
The approval is in line with the Company's projected milestones to obtain CE approval during Q3 and to commence sales in Europe during Q4. This achievement complements the recently announced strategic partnership with HoMedics for the North and South American markets.
Novokid is the first of its kind home use device, presenting a scientifically proven solution to eliminate lice, super lice and eggs. Novokid is 100% natural, plant-based and pesticide-free. Utilizing a proprietary vapor-based delivery platform, Novokid employs a simple 10 minute dry treatment that requires no rinsing or washing. The treatment is fast, dry, clean and easily administered at home or on the go. Novokid can also be used as a maintenance and preventative treatment if used regularly.
"This is a major milestone for our company and an important step towards widespread availability of a scientifically proven, pesticide-free, simple and easy-to-use treatment for lice," stated Zvi Yemini, Chairman and CEO of TechCare Corp. "Receiving approval to utilize the CE Mark clears the way for product distribution in 28 countries across Europe. The treatment of head lice is a $1.8 billion market globally, and the market in Europe is estimated to exceed $500 million. Combined with our milestone strategic partnership with HoMedics for the Americas, this achievement will help us initiate distribution agreements throughout Europe commencing in Q4."
Zvi Yemini, Chairman and CEO of TechCare Corp., added, "For those infected with lice, the treatment options have been limited to pesticide-based solutions that have very limited efficacy and carry significant risks. Novokid has been scientifically proven as an effective treatment while being cost-effective, efficient and safe. We are eager to begin our commercial launch in Europe and are confident over time Novokid will become the preferred option for lice treatment."
Receipt of the Certificate of Conformance from The European Competent Authority confirms the legal requirements have been met and the company's device complies with the requirements of the Medical Device Directive 93/42 EEC amended by 2007/47 and the device may be CE marked.
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.
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, plant based, 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.
Notice Regarding Forward-Looking Statements
This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of the Company. This communication contains certain statements that are neither reported financial results nor other historical information and other statements concerning the Company.
These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, events, products and services and future performance. Forward-looking statements are generally identified by the words "will", "expects", "anticipates", "believes", "intends", "estimates", "target", and similar expressions. These and other information and statements contained in this communication constitute forward-looking statements for purposes of applicable securities laws.
Although management of the Company believes that the expectations reflected in the forward looking statements are reasonable, investors and security holders are cautioned that forward looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by the forward-looking information and statements, and the Company cannot guarantee future results, levels of activity, performance or achievements. Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this communication include, but are not limited to: trends in target markets; the Company's ability to develop new technology and products; effects of competition in the Company's main markets; challenges to or loss of intellectual property rights; ability to establish and maintain strategic relationships in its major businesses; profitability of the growth strategy; and changes in global, political, economic, business, competitive, market and regulatory forces. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of such forward-looking statements. The forward-looking statements contained in this communication speak only as of the date of this communication and the Company or its representatives are under no duty, and do not undertake, to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise except as otherwise required by applicable law or regulations.
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