NEW YORK, March 19, 2020 (GLOBE NEWSWIRE) — Conversion Labs, Inc. (OTCQB:
CVLB), a direct-to-consumer telemedicine and wellness company, has
officially launched its long-awaited new telemedicine brand, SOSRx.
SOSRx is designed to deliver specially formulated combinations of prescription medication and over-the-counter supplies for use in disaster scenarios or times of emergency.
The first product in the SOSRx lineup was launched today: the SOSRx Disaster Pack™, a ‘Grab & Go’ portable kit that includes life-saving treatments and protections against flu epidemics, bacterial outbreaks, bioterrorism and radiation exposure.
“We know how scary and deadly disasters can be, so we looked at the deadliest disasters that took place over the last two decades and consulted experts to figure out the medications that would have had the most impact when used at the right time,” explained Conversion Labs co-founder and CEO, Justin Schreiber.
“While you never know when the next disaster will strike, we want people to feel confident in their safety and the safety of their loved ones. This meant creating a product that could save lives at the right time, at the right place. That’s how we came up with Disaster Pack.”
The kit can be ordered online today from GetSOSRx.com, and includes ongoing support from SOSRx Care™ physicians and specialists. Following a free consultation, Conversion Lab’s U.S. based pharmacy will ship the Disaster Pack directly to your door within two days.
Complete with easy-to-follow instructions and treatment information, the Disaster Pack includes three essential medications:
Potassium Iodide – helps block radioactive iodine from being absorbed by the thyroid gland, protecting it from injury. It can be taken for protection against radiation up to 48 hours prior to exposure, and then daily until the exposure risk subsides.
Levofloxacin – a powerful antibiotic to treat infections of the sinus, skin, lungs, ears, airways, bones and joints caused by susceptible bacteria. It could provide certain protections in the event of bioterrorism or bacterial outbreaks. Levofloxacin is effective after exposure to gram-negative bacteria like anthrax, and can generally be taken twice daily for up to 60 days.
Oseltamivir – an antiviral medication that blocks the actions of influenza virus types A and B in the body. Provides flu epidemic protection, and most effective when administered within 48 hours of first symptoms. For community outbreaks, can be taken for up to six weeks.
“Our SOSRx product line was long in development before the recent global outbreak of the coronavirus,” noted Schreiber. “We believe this has allowed us to be a ‘first-mover’ in the market with a doctor-prescribed kit that provides the essential medicines you need to protect you and your family against unexpected emergencies and disasters.”
While SOSRx does not have specific treatments for COVID-19 given the novel nature of the strain, the coronavirus outbreak that has quickly spread to the U.S. and other parts of the world demonstrates why emergency preparedness is key—and the public has become aware of this now more than ever.
According to a new survey conducted by Finder.com in February, over the last 12 months roughly 20% of Americans, or about 52 million people, say they spent money on survival materials. Another 35% of U.S. adults (89 million) say their homes had already included survival items. Altogether, about 55% of American adults (141 million) are prepping for disaster.
Finder.com sites global political unrest, as well as hurricanes and other natural disasters, as the reasons why so many Americans are preparing for an ‘apocalyptic doomsday’ by spending on survival items. However, few typically have the necessary medications on hand since these are usually prescribed only when someone is sick. Vital supplies like antibiotics and clean water are usually depleted rapidly during high-demand situations created by disasters. Pre-prescribing certain medications and survival items can reduce the strain on public supply lines during emergency situations.
Conversion Labs plans to expand the SOSRx product line to address other specific emergency situations, such as water supply failure from natural disasters. It is continuing to develop complementary add-on products to the Disaster Pack, like a rapid point-of-care testing kit and additional antiviral treatments that can include medications like Tamiflu®.
Conversion Labs also sees opportunities to target the travel preparedness market with prescription medications that address common illnesses encountered during international travel. This includes Traveler’s Diarrhea, a digestive tract disorder that usually results in loose stools and abdominal cramps. The disorder is typically caused by consuming contaminated food or water. The company is planning to introduce a special 10-prescription pack for international travelers, and expects to launch the kit within the next 90 days.
The coronavirus pandemic has also brought attention to virtual healthcare solutions that can help avoid potential exposure to the virus at the doctor’s office or medical clinic. The CDC is now encouraging people to turn to telehealth services, and just last week Vice President Mike Pence announced that health insurers will pay for telemedicine services during the COVID-19 outbreak.
In early 2019, Conversion Labs made a strategic decision to enter telemedicine. While many new technologies, including electronic health records, have transformed healthcare in many ways, the company sees the online diagnosis and treatment of patients and the associated pharmacy business as the next big wave that will fundamentally change the nation’s $3.5 trillion healthcare market.
Driving this transformation is how telemedicine services and online pharmacies have been proven to improve access to healthcare, while dramatically reducing costs for millions of Americans.
SOSRx is Conversion Lab’s second telemedicine brand following the company’s recent launch of Rex MD in December. Conversion Labs recently announced it expects a 47% increase in net sales for 2019 to approximately $12.2 million. The company expects its revenue to increase by at least 145% in 2020 to more than $30 million, driven primarily by growth in its telemedicine business.
About Conversion Labs
Conversion Labs, Inc. is a health and wellness focused e-commerce company with a portfolio of online direct-to-consumer brands. The company’s portfolio of brands includes proprietary over-the-counter products and prescription medications. It also provides online, virtual physician consultations to consumers in 49 states. In addition to its healthcare platform, Conversion Labs is the majority shareholder of PDF Simpli, a direct to consumer SaaS business for editing, signing, and sharing PDF documents. To learn more about Conversion Labs, please visit conversionlabs.com. For more about PDF Simpli, go to pdfsimpli.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell its products; the expected benefits and efficacy of the Company’s products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.
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Juan Manuel Piñeiro Dagnery
Conversion Labs Investor & Media Relations Contact:
Ron Both, CMA
Tel (949) 432-7566
Email Contact Source: Conversion Labs, Inc.
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