Electromedical Technologies Announces
Uplisting to the OTCQB Market
SCOTTSDALE, AZ --
October 7th, 2020 --
InvestorsHub NewsWire -- Electromedical
Technologies, Inc. (OTCQB: EMED), a pioneer in the development and
manufacturing of a bioelectronic
FDA
cleared
device
the Wellness Pro Plus, is pleased to announce the completion
of uplisting
to the
OTCQB. To retain our standing on this higher-tiered exchange, we
are required to meet the standards set by OTCQB. This higher
designation will allow us to appeal to family offices,
institutional traders and numerous
major
hedge funds. Therefore, a higher tier will help provide
shareholders with a transparent corporate update and full
compliance in our financial disclosure.
The global market for
pain management devices estimated to reach $11.3 billion by 2025,
expanding at a CAGR of 12.5% over the forecast period, driven by
increasing prevalence of
chronic neuropathic pain among the growing elderly and obese
populations.
Matthew Wolfson
Commented, "There
are other
obvious
market
growth drivers, including
the
opioid
crisis which
is
getting out of hand.
The
Whitehouse Council of Economic Advisors estimate that the opioid
crisis costs the US Economy $504 billion a year.
Now with the current lockdown orders in place and
increased social isolation and medical distancing
due to
the Covid
pandemic,
the
problem is only getting worse. For
many struggling with chronic pain the
possibility of addiction
to opioids is real. Treatments and support systems have been
disrupted which
may increase the risk of overdose deaths. States
are already seeing significant spikes in overdoses in the first
half of this year, with an average 20% increase of overdose
submissions since the first reported case that kicked off the
pandemic lockdowns that
hit US
shores."
What
does this all mean? People
are desperately seeking new ways of treatment to
alleviate their suffering other
than drugs and medical professionals will need more tools
and different
treatment
options. We
have the options NOW.
Finally,
Mr.
Wolfson
stated, "We have expedited
this uplist
process
in order to gain traction and compete in a rapidly growing
industry. Opioids have become the leading cause in accidental death
in the U.S and as a result life expectancy has begun to drop. We
are extremely optimistic that our technology will help to improve
the quality of life for millions of people while also preserving
overall health and wellness. Bioelectronics
will Electrify medicine in the next 5 years and will be the norm in
treatments of not only Chronic pain but will also open doors to
other treatments that will improve human
well-being without addictive and harmful side
effects. Electromedical (EMED) is part of the wave of the
future."
About
Electromedical Technologies
Headquartered in
Scottsdale Arizona, Electromedical Technologies, Inc. is a
commercial stage, FDA cleared, bioelectronic medical device
manufacturing company initially focused on the treatment of various
chronic, acute, intractable, and post-operative pain conditions.
Through university collaboration agreements the company is working
to develop a comprehensive research program in defining the effects
of electro-modulation on the human body by studying the impacts of
electrical fields in cell signaling and effects on virus assembly
and immune responses with the goal of improving human wellbeing.
The company's current cleared product indications are for chronic
acute post traumatic and post-operative, intractable pain
relief.
Our animal studies do
not involve any human testing, and are not related to our current
products. We are conducting this research to augment and advance
the science of electro-modulation in healthcare.
The
United States Food and Drug Administration has not reviewed or
approved our animal research studies.
For more information,
visit www.electromedtech.com.
Safe Harbor
Statement
This release contains
forward-looking statements that are based upon current expectations
or beliefs, as well as a number of assumptions about future events.
Although we believe that the expectations reflected in the
forward-looking statements and the assumptions upon which they are
based are reasonable, we can give no assurance or guarantee that
such expectations and assumptions will prove to have been correct.
Forward-looking statements are generally identifiable by the use of
words like "may," "will," "should," "could," "expect,"
"anticipate," "estimate," "believe," "intend," or "project" or the
negative of these words or other variations on these words or
comparable terminology. The reader is cautioned not to put undue
reliance on these forward-looking statements, as these statements
are subject to numerous factors and uncertainties, including but
not limited to: adverse economic conditions, competition, adverse
federal, state and local government regulation, international
governmental regulation, inadequate capital, inability to carry out
research, development and commercialization plans, loss or
retirement of key executives and other specific risks. To the
extent that statements in this press release are not strictly
historical, including statements as to revenue projections,
business strategy, outlook, objectives, future milestones, plans,
intentions, goals, future financial conditions, events conditioned
on stockholder or other approval, or otherwise as to future events,
such statements are forward-looking, and are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. The forward-looking statements contained in this
release are subject to certain risks and uncertainties that could
cause actual results to differ materially from the statements
made.
Corporate
Contact:
Electromedical
Technologies, Inc.
Matthew
Wolfson
Tel:
1.888.880.7888
email:
ceo@electromedtech.com
https://electromedtech.com