Published on July 31, 2010 at 7:26 AM
mBeach Software Inc. ("MBHS") (OTCBB:MBHS) today announced a strategy of targeting new international market opportunities. In particular, the company has identified the emerging markets of Russia and Commonwealth of Independent States (CIS)
Russia and the CIS are among the fastest-growing healthcare markets globally. Total population of the region exceeds 270 million people, and there is increasing demand for advanced medical technologies. The health market opportunity is estimated at over $10 billion and forecast to grow at an impressive five-year compound average growth rate (CAGR) of 18.1% in US dollar terms.
According to health care experts, one of the most serious problems with cancer treatment in Russia is a very low rate of early detection. Typically, the disease is diagnosed at very advanced stages when treatment options are less effective and more costly.
mBeach CEO Yossi Biderman commented, "One of the main reasons for relatively high cancer death rates in Russia and CIS is that patients are often diagnosed with the disease once it is too late. This is a very large and growing healthcare market and represents an important opportunity for Skin Cancer Scanning (SCS), our wholly owned subsidiary company. Our simple-to-use, non-invasive, point-of-care, skin cancer detection solution is ideally suited for this market."
SOURCE mBeach Software Inc.