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ReBuilder Medical Technologies, Inc. (RBRM-OTCPK) |
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October 9, 2009 Issue |
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The Most Powerful Name In Corporate News and Information |
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CURRENT ISSUE | COVER ARCHIVES | INDEX | CONTACT | FINANCIALS | SERVICES | HOME PAGE |
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ReBuilder Medical Technologies, Inc. Has Invented, Manufactured And Distributes Worldwide, An Electronic Medical Device Designed To Overcome The Pain Of Diabetic Peripheral Neuropathy As Well As Arthritis |
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ReBuilder Medical Technologies, Inc., is a
medical device research, development, and manufacturing company. The company
invents and develops its own proprietary products and technologies. Their
most recent financial report shows a 68% increase in sales since Medicare
has started paying for their Rebuilder product for diabetic peripheral
neuropathy. As a result, people all over the US are now benefiting from the
healing effects of the ReBuilder. David B. Phillips, Ph.D. our founder, has been inventing, manufacturing, and marketing medical devices since 1975. He is most recognized for the GST System for Breast Cancer Detection, the Phillips Molluscum Treatment System, and the FirsTemp Infra-red ear thermometer (for which he received The Inventor Of The Year Award in 1988). He holds several international patents.
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Interview conducted by: Lynn Fosse, Senior Editor, CEOCFOinterviews.com, Published - October 9, 2009
Mr. Phillips: ReBuilder Medical is a company that invented and manufactures and distributes worldwide, an electronic medical device that is designed to overcome the pain of people who have diabetic peripheral neuropathy and pain from arthritis.
CEOCFO: Would you explain the technology behind your product? Mr. Phillips: All nerves are basically electrical in nature, and just like an EKG in the hospital shows you the wave form, the shape of the electrical signals in the heart. A cardiologist can look at that waveform and diagnose what the problem is. We can measure a healthy peripheral nerve, peripheral meaning the extremities, from the hands and the feet up to the spine. We determined what is an exact duplicate is of a healthy signal is and then we deliver that healthy signal to the patient, and that signal travels from one foot to the other. We use a pair of proprietary conductive silver socks. This signal travels from the right foot to the right knee, to the right hip, across the synaptic junctions to the lower back to the left hip, left knee, to the foot, left foot then again it goes back and forth kind of like the RotoRooter, opening up, reenergizing and retraining the nerve paths of people who are in pain.
CEOCFO: What if both feet are bad? Mr. Phillips: Our ReBuilder treats both feet simultaneously. The signal goes from the right foot to the left foot and the only way it can get there is to go up to the back and back down across. It wakes up all the nerves from the lower back on down. We can treat hands and feet individually or simultaneously.
CEOCFO: You use the sock on the feet; what do you put on the hands? Mr. Phillips: We use a similar proprietary silver conductive glove on the hands. The patient wears the gloves and snaps the electrodes onto the gloves connected to the ReBuilder itself, which is about the size of a man's wallet. It is powered by a common nine-volt transistor battery, the same as you would use in a smoke alarm.
CEOCFO: Why not treat each hand separately? Mr. Phillips: Electricity travels from negative to positive, and you would have to put an electrode on the spine and the one foot, in which case you are only treating one side of the body. If you a treat both hands simultaneously you get a much better treatment. The body needs to be balanced. In some cases such as stroke rehab, the physician or physical therapist may choose to treat only the affected side.
CEOCFO: Who is using your product today? Mr. Phillips: There are 70 thousand of these units out and around the world. The most common use is in Cancer Treatment Centers of America. They use it to treat symptoms of neuropathy, which are caused by chemotherapy, as 33% of people treated with chemotherapy for cancer, develop this painful or numbing sensation in their legs or feet. The oncologists can heal this neuropathy with the ReBuilder and the treatment is comfortable. The patients start it in the hospital and then they take it home with them and can use it while they are watching TV or they can be a passenger in a car or an airplane.
CEOCFO: How often would you use it? Mr. Phillips: Initially they use it twice a day for two weeks and then they use it once a day for about a month. This protocol gives the body a chance to rebuild and reeducate the nerves, to get them all working again. Then they do it once or twice a week for maintenance. Because the treatment feels good and causes them to relax, they sleep better at night. Patient compliance is very high.
CEOCFO: What about the diabetic neuropathy? Mr. Phillips: It doesn’t matter what the cause is. About 60% of the people with diabetes will one day develop problems in their feet. When they have numb feet they can get infections and because of the high level of glucose in their bloodstream they tend to heal much more slowly. They can develop ulcers, which ultimately require amputation of their toes and/or feet. So what the ReBuilder does is wake up those nerves. They can now take care of a small cut quickly, so the cut doesn’t have to progress from an infection to gangrene resulting in amputation. Also, when the patient can feel their feet, they move much more reliably, and they are not likely to fall and break their hip.
CEOCFO: What other types of treatments are you competing with? Mr. Phillips: The common treatments are drugs, such as Gabapentin, Neurontin, Lyrica, and Cymbalta, and these are all drugs that numb the nerves at the lower back, so that the pain signals that come from the feet get blocked at the lower back and they can’t get to the brain. That can effectively solve the perception of pain, but it does nothing to rehabilitate the integrity of the nerve itself and these drugs exacerbate or makes worse the sensation of numbness. It is not a good clinical outcome. These strong pain drugs can cause bowel problems, constipation, and cause liver problems. These strong drugs slows down their thinking ability, and sometimes they can be misdiagnosed with Alzheimer’s. They can’t feel their feet even more so than with the normal neuropathy, so it makes it dangerous to drive and they tend to stumble more. We can eliminate the drugs with the ReBuilder.
CEOCFO: You were recently approved for Medicare reimbursement; would you tell us about that and what we should look for from R&D? Mr. Phillips: The ReBuilder was approved about three months for Medicare coverage, and about one month ago we as a company were approved as a Medicare provider. We are now fully accredited, and we can bill Medicare directly. Before, patients had to pay $500 or $600 out of pocket; now they can get their units essentially free because it is covered with Medicare and their secondary insurance. For us, sales have been doubling every week for the last three weeks, because we are able to bill Medicare. This month our sales are 68% higher than they were last month and 90% of new business comes from Medicare. Our biggest challenge at the moment is gearing up for meeting the demand.
From an R&D standpoint we are performing R&D on a diagnostic device that will go in the doctor’s office to help a general practitioner more quickly and accurately diagnose peripheral neuropathy so that the patient can be treated earlier and the results are better. Once diagnosed, the physician can program a ReBuilder specifically to that individual patient’s needs.
CEOCFO: What do you do about the good challenge of keeping up with production? Mr. Phillips: We pressure our subcontractors, we bribe them, we offer more money if they can put on the nightshift.
CEOCFO: Is your company public yet? Mr. Phillips: We went public two years ago. The stock symbol is RBRM.
CEOCFO: Do most medical people know about it, and how do you advertise? Mr. Phillips: Pour business comes from patient referrals and we advertise on the web. If you look up neuropathy we will be the first or second name listed. People go on there when they get disillusioned with the results that their doctors are giving them with drugs, so they will go looking for an alternative solution. They find us on the web, go to the website, read about it and get excited. They print out the website and take it to the doctor. The doctor then usually calls us and says, ‘What is this?’ We ship him a packet of information, he reviews it and prescribes it for the patient, and we supply the patient through Medicare or their regular insurance.
CEOCFO: And Medicare covers the supplies as well? Mr. Phillips: Yes, Medicare will cover supplies like the conductive garments and self adhesive pads.
CEOCFO: Are there any potential side effects? Mr. Phillips: No.
CEOCFO: Do you have concerned now that you have this that the proposed changes in Medicare will come up and make this something that won’t be approved anymore? Mr. Phillips: Not really. It is much more cost effective to supply the patient with a ReBuilder than to pay for drugs, and/or amputations. We can save Medicare about a billion dollars a year with their diabetic patients alone.
CEOCFO: Do you have enough staff to handle the orders and the customer inquiries in addition to the product? Mr. Phillips: Getting staff is not a problem; getting product is the challenge. We are recruiting staff right now. We increased our staff by 30% this month alone and will probably double in staff size in the next quarter.
CEOCFO: What is the financial picture like for ReBuilder today? Mr. Phillips: We are debt-free. We recently have gone public and we are in becoming the “Kleenex” as the best brand for neuropathy treatments. We get letters from people who have been suicidal with the pain and now they are walking. We had a 99 year-old man who had a wheelchair and he walked it back into the local drug store and said “here keep it, I’m walking, I don’t need it anymore”. We get calls like that all the time. Most of our sales now come from referrals. We already have over 70,000 customers.
CEOCFO: Would you sum it up for potential investors; why should they be interested in ReBuilder Medical Technologies? Mr. Phillips: The technology is owned by the company; we have it manufactured off-site, so we are not tied up with the manufacturing process. We do what we do best, which is marketing, customer service, and now managing the reimbursement process. I invented the ear thermometer fifteen or twenty years ago. It was the first thermometer that took your temperature via the ear canal when my children were small. I have been doing this since 1979, developing medical devices, taking the company public and operating it. I invented this in 1988 originally and then we took off with it in 2002. So for the past eight years we have been functioning fine. We have never had an inquiry from an attorney, never been sued, just a very stoic kind of company. We are doing R&D to make that device for doctors and now we are probably double our market again.
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The ReBuilder was approved about three months for Medicare coverage, and about one month ago we as a company were approved as a Medicare provider… About 60% of the people with diabetes will one day develop problems in their feet. When they have numb feet they can get infections and because of the high level of glucose in their bloodstream they tend to heal much more slowly. They can develop ulcers, which ultimately require amputation of their toes and/or feet. So what the ReBuilder does is wake up those nerves. They can now take care of a small cut quickly, so the cut doesn’t have to progress from an infection to gangrene resulting in amputation. Also, when the patient can feel their feet, they move much more reliably, and they are not likely to fall and break their hip. - David B. Phllips |
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David
B. Phllips