Bionime, GE enter licensing agreement to provide diabetes solutions

GE (NYSE: GE) today announced it has entered into a new worldwide licensing agreement with Bionime, a global leader in biotechnology medical testing, to provide new GE-branded solutions for the diabetes market.

According to the World Health Organization, an estimated 346 million people worldwide have diabetes. Type 2 diabetes is the fastest growing chronic disease in the world. Through this agreement, Bionime will deliver GE-branded blood glucose monitors, test strips, kits and related diabetes accessories.

The first product to be launched is the GE100 Blood Glucose Monitoring System, available now through durable medical equipment suppliers and on retail shelves in 2012. The GE100 utilizes advanced patented strip technology to achieve a high level of accuracy and precision and a unique, innovative strip design that makes it easier to use and more sanitary for the consumer than current similar offerings. In addition, patented True Auto Coding Technology eliminates the need to code each strip lot without sacrificing the accuracy of the readings. The GE100 provides an easy, clean and accurate way to test blood glucose levels of people living with diabetes.

"We are very excited to work with Bionime to provide innovative blood glucose monitoring for diabetes patients worldwide," said David Ataide, General Manager, Strategic & Customer Initiatives, GE Healthcare. "Managing diabetes care is critical to the health of our society, and we believe this an important first step for our business."

"Bionime's vision is that with our 'peace of mind' medical devices, we offer solutions to patients to accurately manage and control their own health," noted Roy Huang, Chairman, Bionime Corporation. "By joining forces with GE, we can grow this vision by developing new offerings and widening the market for Bionime's products."

Source: GE Healthcare