BioElectronics Corporation (OTC: BIEL), a developer of medical technology products, announced today that it has expanded its Maryland headquarters by leasing an adjacent office suite to operate as a dedicated storage and fulfillment center. The expansion supports new commercial activity involving ActiPatch and RecoveryRx, following the execution of a Fulfillment Services and Distribution Control Agreement with Electrome Corporation.
Under the agreement, BioElectronics will provide inventory receiving, storage, order processing, packing, shipping coordination, and returns-management services. Electrome is preparing for the direct-to-consumer launch of ActiPatch in newly designed branded packaging. BioElectronics expects the expanded facility to provide the operational capacity needed to receive inventory and process individual consumer orders generated through Electrome’s planned direct-to-consumer sales channel. The new fulfillment center is also being established to support anticipated orders for RecoveryRx, BioElectronics’ FDA-cleared prescription medical device for the adjunctive treatment of postoperative and musculoskeletal pain.
“This expansion represents more than an increase in physical space,” said Kelly Whelan, President of BioElectronics Corporation. “It strengthens our commercial infrastructure, supports Electrome’s planned ActiPatch launch, and positions BioElectronics to efficiently fulfill anticipated increased RecoveryRx demand. It also creates an additional service-based revenue opportunity alongside product sales.”
Erik A. Nilsen, PhD, Co-Founder and Chief Executive Officer of Electrome Corporation, commented: “BioElectronics’ investment in dedicated fulfillment capacity is an important step as Electrome prepares to introduce ActiPatch to the U.S. direct-to-consumer market in its newly designed packaging. Having an experienced fulfillment partner with direct knowledge of the product, its quality requirements, and the regulatory environment will help us build an efficient and reliable customer experience from the outset.”
The Fulfillment Agreement provides for dedicated onsite storage and fulfillment capacity, including inventory storage, packing and order-processing areas, outbound-order staging, shipping equipment, inventory segregation, and returns processing. Under the agreement, BioElectronics will receive monthly storage fees, order-based pick-and-pack fees, and additional fees for certain returns, special projects, inventory services, and non-standard fulfillment activities. The arrangement also includes a monthly minimum charge for pick-and-pack services.
Management believes the expansion provides BioElectronics with a scalable platform to support Electrome’s commercialization efforts while maintaining direct oversight of inventory handling, quality controls, shipping operations, and customer returns. The additional capacity may also support future fulfillment requirements associated with other commercial partners and distribution channels.
BioElectronics Corporation is a medical device company focused on the development and commercialization of advanced bioelectronic therapies utilizing pulsed shortwave therapy technology for pain management and recovery applications. Its product portfolio includes ActiPatch, RecoveryRx, and RecoveryRx Veterinary. Electrome Corporation is a bioelectric therapeutics company developing non-invasive, drug-free treatments for pain and other conditions. It currently commercializes FDA-cleared pulsed shortwave therapy (PSWT) technology through its PAINKILLER™ platform across multiple channels.
Certain information set forth in this release contains forward-looking statements. These statements are not guarantees of future performance and undue reliance should not be placed on them. Actual results could differ materially from those projected.
