Business
NuGen Medical Announces New Online B2C Subscription Business
Toronto, Ontario--(Newsfile Corp. - March 29, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD) (th...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen Medical Announces New Online B2C Subscription BusinessToronto, Ontario--(Newsfile Corp. - March 29, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD) (the \"Company\" or \"NuGen\") is pleased to announce its new B2C online subscription-based business to be offered at www.insujet.com will be available to consumers in the coming weeks ahead.By utilizing fulfillment centers across Europe and Canada, we ensure fast delivery for all purchases that can be made via smartphone or our web shop with just a few clicks. The customer's starter kit is then picked, packed, and shipped within hours, enabling a highly scalable virtual business model.If a customer opts for a subscription model for the delivery of necessary consumables, such as adapters and nozzles, two options will be available, which will be billed quarterly. In a one or a three-year plan, the cost of goods and first shipment cost is covered entirely within the first quarter, leaving the remaining quarters as profit margins increasing from 71% to 87%. The total profit margin over 3 years including the first quarter is estimated at 76%.\"Our new online B2C subscription business brings the so-called 'Razor Blade Model' to the medical device space and offers a new and very attractive revenue stream for NuGen. In addition to the high margins, the revenue generated will be recurring, predictable and considered financially attractive as we build a platform-as-a-service business proposition around the InsuJet™ device. InsuJet™ provides better care to diabetics around the world and we aim to expand access to this improved level of care through our new subscription-based online offering,\" commented Richard Buzbuzian, CEO. \"We look forward to communicating our official launch date and related marketing to shareholders in the coming weeks. We're all systems going now.\"InsuJet™ is currently approved for sale in 42 countries1. Efficacy of InsuJet™ showing improved insulin uptake of upwards of 40% can be found on the Company's website. Clinical Studies, Certificates and ReportsFor more information regarding clinical studies, certificates, or InsuJet™ reports, please visit www.insujet.com and click on the 'Partners' button to learn more. For more information on product testimonials, please visit www.insujet.com and click on the 'Community' button. Abou...