Diabetic Care Takes a Road Less Traveled: What does a company that provides financial tools and online auctions to countries outside the U.S. have to do with diabetic testing supplies? Well, if your company “invests in technologies, communities and systems that facilitate trade, finance, communication and travel across international boundaries, cultures and languages” then you might be surprised what you can do for diabetics.
The company is known as One World Ventures, and a lengthy process of approvals for a subsidiary is finally allowing them to move beyond travel and financial tools to the world of diabetic testing supplies.
According to a press release issued recently One World Venture’s “manufacturing subsidiary Tutamen has applied for and received approval for exclusive distribution of the Eukare(R) blood glucose monitoring system in Mexico. The application for importation of the system was made with Mexico’s Federal Commission for Protection Against Health Risks (COFEPRIS) and has been approved by the Mexican Secretariat of Health. The system is a critical part of the ongoing battle against Type II diabetes which has reached epidemic levels in Mexico. The Eukare(R) system is Food and Drug Administration (FDA) approved in the U.S. and ISO and CE compliant.”
The company anticipates that its established presence in Mexico, Central America and Africa could provide ample reason to succeed in places that are not well serviced. Company officials fully expect to see in excess of $2 million in first year sales.
The release further suggests, “With this approval, One World will create a medical devices division of the company that will focus on the manufacturing and delivery of medical devices to areas where there is opportunity to provide for the underserved. Presently, the major pharmaceutical conglomerates with a much higher cost structure are the primary providers of diabetes testing supplies in Mexico.”
Mexican officials indicate diabetes will be diagnosed in 40% more cases by 2012 leaving a significant need for testing supplies for personally managed care.
One World CEO Steve Prior said, “The Eukare System allows us to distribute a quality medical device in a more cost effective manner to people who desperately need the care. It has been an arduous process getting these approvals. We anticipate shipping into Mexico very soon now that we are complete.”
Tutamen, the subsidiary of One World that is manufacturing the blood glucose monitors is based in China. One World website data indicates, “Tutamen was a startup company established in Shenzhen China in 2003. Since that date Tutamen (HK) Ltd has established itself with a core of consistent clients managed by Tutamen (HK) Ltd. The Company has also established excellent technical and manufacturing partners throughout the region. Tutamen provides comprehensive consulting services to help companies achieve rapid, sustained success in China and the US.”
Time will tell if this new venture proves a success. It does appear that the company may have the connections needed to allow for the benefit of diabetics in less populated areas of Mexico and the business model may prove strong enough to allow growth into other worldwide markets. It is also possible that the growth of One World Ventures could encourage other manufactures to develop a larger distribution base in order to successfully compete.
In either case this development provides both short term as well as long term hope that managed care in diabetes can become more available on a global scale.