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Wed, July 15, 2009 Dynamic Response Group, Inc.: Dynamic Response Group's Riddex Hits $40 Million Sales Milestone
MIAMI, FL--(Marketwire - July 15, 2009) - Dynamic Response Group, Inc. (
"In any climate, $40 million in sales is significant, let alone it happening in these difficult economic times," says CEO Melissa Rice. "I think it speaks volumes in terms of DRG having its finger on the pulse of what consumers are looking for."
The milestone gross sales figures on Riddex Plus come on the heels of overwhelming public response to DRG's announcement that its subsidiary Medico Express had received accreditation from CHAP, the independent accreditation board of Medicare. The company continues to prepare in anticipation of receiving its provider number in the coming weeks. It is continuing to fine tune the software implementation in order to link directly to Medicare to send its daily billing, and is currently interviewing high-level personnel with Medicare billing expertise. Medico's business model is designed to scale its services to provide both high quality health care products to our customers, and at the same time, set industry standards for the quality of care for the elderly Hispanic community. This is a responsibility the Company does not take lightly, and should prove to be important as new customers are enrolled, because the Company understands customer's needs and is sensitive to cultural considerations.
The Hispanic market for Medico's products has been estimated at $750 million in the continental United States. Furthermore, the size of the opportunity is thought to be understated because only an estimated 1.2 million of the over 4 million Hispanics in the United States, over 65, eligible to receive Medicare benefits are currently collecting these benefits. It is estimated that over 1.4 million of those Medicare-eligible Hispanics have diabetes, implying a potential continental U.S. market for Medico products that may be in excess of a billion dollars. Puerto Rico provides additional opportunities and is estimated at over $100 million in potential recurring revenue. Furthermore, once Medico is fully licensed, the Company's ability to add complementary product lines should provide additional potential revenue.
One of the many strengths of Medico's business model is its recurring revenue base. This provides a stream of future cash flows, a scheduled follow up to solidify customer relations and a systematic method to offer new products. Medico intends on introducing a new Medicare eligible product every 90 days. This should also increase the overall "lifetime" value per customer. "We believe that Medico Express is going to be the largest project DRG has implemented in its short history," says Rice. "This is the next stage of our Company evolution, utilizing our marketing expertise, and one we hope will benefit shareholders in the long term."
About Dynamic
Dynamic Response Group, Inc. is a marketing company, developer and distributor of personal development, wellness and entertainment consumer goods and services through print catalogs, radio, direct mail, direct response television programming (also known as DRTV or infomercials) and the Internet. For more information about Dynamic Response, please contact the Company at 305-576-6889.
About Medico
Medico Express, Inc., is a Florida corporation and majority owned subsidiary of Dynamic Response Group, Inc. Medico Express will be a provider of direct-to-consumer Medicare reimbursed medical products focused on chronic diseases afflicting the Hispanic community in the United States, Puerto Rico and the Virgin Islands.
Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The above information does not guarantee any successful closing of new business. No assurances can be given that any projections related to gross revenues or profit margins will be realized. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
