It’s Rx Safes’ first licensing agreement. Aimed at the healthcare sector, particularly with respect to prescription drugs, the company’s storage products use biometric locks for extra security. Now, those products will be introduced into Talon Brands’ distribution channels, making their way to vendors such as The Home Depot and Grainger.
In a statement, Rx Safes CEO Lorraine M. Yarde asserted that the agreement “recognizes and validates the company’s intellectual property and expands our reach beyond our primary healthcare target market.”
It may turn out to be a smart avenue to revenue generation for the company, which has previously sought other lines of attack such as a grant-writing service that saw Rx Safes offer to help clients apply for government funding for programs that could benefit from Rx Safes technology. It should work to Talon Brands’ favor, too; while that company offers its own fingerprint products, CEO Glenn McGinnis asserts that his team “appreciate the opportunity to be able to swiftly license Rx Safes’ technology so as not to disrupt our business,” adding that bringing it to market could “create additional opportunities for the development and marketing of new products to enhance security in a variety of consumer and commercial applications”.
January 27, 2016 – by Alex Perala