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TWST: What is ALR Technologies?
Mr. Cruitt: ALR Technologies is a healthcare compliance technology
company. We are building technology products that are going to provide
assistance in keeping people on their disease management or health
management regimens, whether that be medications, the use of medical
equipment, blood testing and using the strip for those who are diabetic,
etc. Our ticker symbol is ALRT and we have been working for the past
five years. For the past five years we have been focusing our resources
on building a home compliance system that will allow a person to be
reminded to take their medications or their other disease management
activities at exactly the time they are supposed to. It displays on the
screen exactly what they are supposed to do and it allows for remote
monitoring so that their compliance profile can be evaluated for
behavioral modification efforts or a more real-time intervention, if so
needed. An example would be a diabetic who must check their blood sugar
three times a day and take medications four times a day. Our ALRT500
beeps to remind them what to do at the correct time of day and displays
on the screen the exact actions to take. As they respond to the
reminder alert, their response is saved in the reminder unit for remote
retrieval by those who are monitoring the person or are the person's
caregiver. The transmission of the data is through a modem connected to
a phone line. The upload of data is automatic and can be scheduled for
daily, weekly or monthly monthly monitoring. TWST: What's the overall marketplace today? Where does this industry
stand as far as emerging and mature activities?
Mr. Cruitt: This is a new and emerging market. The market really hasn't
been established. The need for medication and treatment compliance has
been established by various segments of the healthcare industry. It's
recognized that poor compliance in taking medications or in staying with
the disease management regimen is one of the key issues driving up the
escalating cost of health care in the United States today. In the
marketplace, there are a few companies that are offering compliance
monitoring systems, but they were designed for the most catastrophic
care. They are very limited in their applicability to the most
catastrophic care and are very costly, whereas the need for the market
is much broader than for catastrophic care patients. There are millions
of people in the United States who could benefit from a home compliance
reminder and monitoring system. The reason this is a new and emerging
market has been due to the lack of an affordable, transportable, and
easy-to-use system, and we believe that our system, which will be
commercially available in the third quarter of this year, will be the
first in the nation that provides the benefits and the features that
make it affordable, easy to use, and transportable.
Tickers included in this excerpt: ALRT
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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