Brain Scientific and LOK Corporation Announce Global Partnership Advancing Innovative Neurodiagnostic Devices
NEW YORK, Nov. 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Brain Scientific Inc. (OTCQB: BRSF), a leader in the medical technology market, today announces its partnership with LOK Corporation to develop and manage Brain Scientific’s U.S. and global distribution network. This partnership will scale and accelerate Brain Scientific’s neurological devices.
The NeuroCap and NeuroEEG are Brain Scientific’s flagship products. The NeuroCap is a pre-gelled disposable EEG cap that is easily applied by anyone within clinic settings or at home. The NeuroEEG is a wireless, wearable EEG amplifier that provides the patient full freedom of movement in routine and specialized EEG monitoring.
The NeuroCap and NeuroEEG can be used in neurology clinics, urban and rural emergency departments, intensive care units, assisted living facilities, sporting venues and remote clinical research studies. Brain Scientific’s neurodiagnostic devices are directly aligned to support the trends of care moving beyond the specialist office.
“At LOK Corporation, we are always on the lookout for disruptive technologies,” states Daniel Cloutier, CEO of LOK Corporation. “We believe that the NeuroCap and NeuroEEG have the potential to change the way EEGs are conducted and expand their application, and we are excited to be part of this endeavor.”
LOK has assisted hundreds of innovative medical technologies companies with all aspects of worldwide commercialization. The LOK network consists of more than 15,000 distributors in 186 countries in 64 medical specialties, including clinical neurology, research, emergency care and sports medicine.
“Our products are changing lives by making EEG tests shorter and more accessible than ever before,” said Hassan Kotob, chairman and CEO of Brain Scientific. “With LOK’s successful track record, we will accelerate bringing our mission-critical products to all parts of the globe.”
About Brain Scientific
As a commercial-stage medical technology company with multiple patents and FDA-cleared products, Brain Scientific is committed to developing next-gen solutions that advance the future of neurodiagnostic and OEM medical devices. Brain Scientific has two product lines covering neurology and precision motion. The NeuroCap and NeuroEEG are smart neurological diagnostic devices that simplify administration, shorten scan time and cut costs. The Piezo Motion product line consists of ultra-efficient compact precision motors that will drive the next generation of medical devices. To learn more about Brain Scientific's corporate strategy, products or investor relations, please visit brainscientific.com.
About LOK Corporation
LOK Corporation is a manufacturing agent that helps companies develop and manage their international distribution networks. Over the years, LOK has built a reputation representing major players but also companies that were in their first steps of commercialization. LOK also offers training tools for the sales force and several other services to support sales and marketing.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of EEG products and services and piezo motor technology; (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items; (iii) the Company's future financial performance; (iv) the successful integration of Piezo Motion with and into Brain Scientific; and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, over many of which the Company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing; the significant length of time and resources associated with the development of products and related insufficient cash flows and resulting illiquidity; the Company's inability to expand its business; significant government regulation of medical devices and the healthcare industry; lack of product diversification; volatility in the price of the Company's raw materials; and the failure to implement the Company's business plans or strategies, including as a result of the closing of the merger with Piezo Motion. Some of these and other factors are identified and described in more detail in the Company's filings with the SEC. The Company does not undertake to update these forward-looking statements.
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Released November 22, 2021