- Universal Biosensors (UBI) launches PETRACKR, a blood glucose monitoring product for dogs and cats with diabetes, globally
- In tandem with the launch, UBI has signed three distribution deals across the US and Canada
- The company has received initial purchase orders of around $280,000 and expects first-year sales from the three deals to exceed $2 million
- UBI CEO John Sharman says the company is “delighted” to launch its product into a growing market
- Shares in UBI are trading at 24 cents at midday AEST
Universal Biosensors (UBI) has announced the launch of PETRACKR, a blood glucose monitoring product for dogs and cats with diabetes, globally.
In tandem with the launch of PETRACKR, the company has signed three distribution deals across the US and Canada.
UBI said it had received initial purchase orders of around $280,000, with first-year sales from the three deals expected to exceed $2 million.
Universal Biosensors CEO John Sharman said the company was “delighted” to launch its product into a growing market.
“Blood glucose monitoring in companion animals (dogs and cats) with diabetes is a growing market and estimated to be $270 million per annum,” he said.
“The market is growing at 12 per cent per annum, largely because of increasing pet adoption and increasing rates of obesity in pets globally.”
Mr Sharman said UBI was confident in its ability to offer a better alternative to its competitors in terms of its price, accuracy, latest technology, user App and overall performance with PETRACKR.
The company confirmed 10,000 PETRACKR analysers and 375,000 diabetes test stripes were delivered or were in transit to UBI warehouses in the USA and Europe. The first orders to customers in the US and Canada will be delivered during May.
Shares in UBI were last trading at 24 cents at midday AEST.