On the heels of the launch of the Hemocode Food Intolerance System at Rexall, Guardian and IDA drug stories in the spring, Gemoscan Canada (TSX-V:GES; MUN:1GE) is gearing up to dominate the food sensitivity and dietary wellness market through industry consolidation and leveraged organic growth.
"I am very encouraged from the response that Hemocode, and our business model in general, have received," CEO Brian Kalish says in an interview with BioTuesdays.com. "The attention we have garnered from retailers, consumers, the business community and the media, reinforces our belief that we have a real leadership position in a quickly growing and important market."
Food intolerance is a negative or inflammatory reaction to certain foods or additives. Unlike an allergy, which manifests itself immediately, food intolerance can often show up hours later as pain, headache, insomnia, constipation, fatigue, a weight management problem or even irritable bowel syndrome. Government statistics show that nearly 30% of North Americans suffer from some type of intolerance to certain foods.
Food intolerance is a large and growing market, with segments covering diet, allergy and alternative health care and total spending on products and services exceeding $90 billion a year, according to Gemoscan.
There are 500-plus Rexall, Guardian and IDA pharmacies now selling Hemocode, and Mr. Kalish aims to double Gemoscanís retail reach by the first quarter next year. In June, the company licensed its technology to Haemodek of Israel, with an option covering Turkey, Cyprus and Greece.
The company is also planning expansion in the U.S., Europe, Asia and India, with a growth objective of 10,000 locations by 2014. . .View Full Article