Rx Safes has found a potentially important new market pipeline for its storage products featuring biometric security. US Home Builders Consultants has placed an order for 5,000 Rx DrugSAFE units to be delivered over a two-year period starting this September.
The idea is to offer the products to new home owners as integrated elements of their dwellings. The Rx DrugSAFE is basically a medicine cabinet with a fingerprint-based lock, and it could prove appealing to individuals seeking to effectively lock up narcotics or other medicines in the household, such as parents concerned about keeping sensitive medications out of the hands of young children, for example.
Commenting in a statement, Rx Safes CEO Lorraine Yarde explained that the contract illustrates how the company’s “product line continues to gain traction as the battle to prevent drug abuse continues,” adding that the Rx Safes team “look forward to forging additional relationships across different industries as we expand our sales and marketing efforts and reach.”
The deal comes at a time when Rx Safes is seeking to raise capital for listing on the Nasdaq. Along with the company’s first licensing deal, struck earlier this year, it could help to raise its profile and appeal among investors as it pursues these efforts.
April 26, 2016 – by Alex Perala