Delivering A New Non-Invasive Meter, Did Biocontrol Bite Off More Than It Could Chew?
Biocontrol Technology, Inc. has been receiving a great deal of attention regarding its Diasensor 1000 non-invasive blood glucose meter. Stockholders have been calling the (DIABETES HEALTH) office asking if we know what is going on with Biocontrol-when will the device be ready to market? Biocontrol, based in Pittsburgh, is one of many companies competing for a non-invasive method of testing blood glucose levels. The company has fallen behind schedule in its attempts to produce a working prototype. Biocontrol canceled its $32.5 million contract with its German-based distributor, Imaco, on February 20th, claiming that Imaco violated the contract by failing to place any purchase orders for January. Imaco says the deal collapsed because Biocontrol was incapable of providing a single prototype of the Diasensor 1000. In a February 23rd article, Bernard Springer, vice president of Imaco, told Patricia Sabatini of the Pittsburgh Post-Gazette that Biocontrol canceled the contract to save face ra
