DALLAS, Texas, Sept. 30, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Socrates Health Solutions, Inc., which is developing the Socrates CompanionTM, a pain-free, accurate and affordable noninvasive blood glucose monitoring device, based on exclusively licensed technology, announced today the US Patent and Trademark Office (USPTO) has granted K Sciences a patent for a new, noninvasive technique for monitoring blood glucose. Socrates has an exclusive license to the patent owned by K Sciences and has subsequently filed their own patents specifically for enhancements, manufacturing and the unique delivery of the CompanionTM medical device.
The Problem
In the U.S., there are over 26 million diabetics, and approximately 2 million new patients are being diagnosed every year. Worldwide, there are 371 million diabetics. 84% of these seek treatment requiring frequent glucose testing. The testing devices available today require finger pricking and the purchase of test strips. This is painful, inconvenient and expensive. The World Health Organization predicts that diabetes will be the 7th leading cause of death in the world by 2030.
The Market
The annual worldwide glucose testing market for patients with Type 1 and Type 2 diabetes is currently over $10 billion dollars a year.
The Socrates Solution
Socrates CompanionTM, provides a convenient, accurate and pain-free glucose reading which does not require the collection of blood.
"Socrates is very proud of our affiliation with K Sciences. Having an exclusive license to the original, patented technology, along with patents pending filed by Socrates, my team and I are confident that we can bring this innovative and affordable solution to diabetics around the world," said Scott Smith, CEO of Socrates Health Solutions, Inc.
About Socrates Health Solutions, Inc.
Socrates Health is developing Socrates CompanionTM, a small, inexpensive and noninvasive blood glucose self-monitoring device that has not yet been cleared by the FDA and is currently not for sale.
Visit http://www.socrateshealthsolutions.com/
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