SONT and Ted Williams, "Mr. Golden Voice" Announce Licensing Agreement, New Product
EVERETT, WA--(Marketwired - Jun 1, 2016) - Seen on Screen TV, Inc. (OTCQB: SONT) the global retailer of fine products, has signed a licensing agreement to market the Golden Fit Watch, a wearable heart monitoring device.
This product and its name were inspired by the incident in which Doctor Mehmet Oz, a top physician and host of the "Dr. Oz" show, was surprised to find Ted "Golden Voice" Williams' blood pressure had risen since a previous show. Dr. Oz suggested that Ted needed to monitor his blood pressure. This television moment led to the creation of the "Golden Fit Watch," a new medical device.
Williams has signed an exclusive licensing deal with Seen on Screen TV, Inc., (OTCQB: SONT) to be the exclusive distributor of the Golden Fit Watch. The team will seek Medicare approval relating to section 510(k) of the Food and Drug Administration, and should soon gain FDA approval as a class 1 device for use with Medicare and Medicaid patients. This approval is not necessary for sale of the product in the American market, but, once granted, will enable access to a larger market due to possible insurance reimbursement.
Mr. Golden Voice himself, Ted Williams said, "The 'Golden Fit Watch' will be helpful to others like me, and who I used to be, a homeless veteran, gain access to medical information that can help prevent heart attacks and other medical conditions, which will also save taxpayers money."
Williams' manager, Scott Anthony, described the device, "This is a wearable monitor, but with functions more aligned with measuring heart rate and blood pressure. A working prototype is currently in limited use."
According to a new market research report "Wearable Technology Market by Product [...] Global Forecast to 2020," the overall market for wearable technology is expected to reach USD 31.27 Billion by 2020, at a CAGR of 17.8% between 2015 and 2020.
"We anticipate a 510(k) clearance by the FDA within the next several months," George Jarjour, COO of SONT stated. "Luckily we do not need approval before we begin to sell the Golden Fit Watch in the general market. Approval will open more avenues for us to market this fine product."
With the success of companies like Fitbit, Apple and their Apple Watch, and Garmin, who are significant players in the wearable market, SONT believes their chances are great for immediate revenues.
"I would anticipate selling the first production run quickly," Anthony said. "Once we get FDA clearance and medicare/medicaid availability, the sales should increase even more." CCS Insight predicted 84 million wearables were sold in 2015. Fitbit was selling a comparable product at approximately 4.4 million units per quarter.
ABOUT Seen On Screen TV, Inc.
Seen on Screen TV, Inc. is a global retailer selling products through its range of websites and direct response television advertising. Headquartered in Everett, Washington, it markets direct to the public its own branded products as well as other specialty products using television commercials and infomercials to drive direct response telephone calls to its call centers and also driving traffic to its websites to create corporate awareness as well as online sales. For more information about the company please visit sont.tv/sec-filings
ABOUT Mr. Golden Voice, Ted Williams
American radio host and voice-over artist Williams gained widespread media attention when in January, 2011, an interview made during a period when he was homeless went viral after being posted to YouTube in early January 2011. Williams subsequently received numerous job offers. He co-authored "A Golden Voice: How Faith, Hard Work, and Humility Brought Me from the Streets to Salvation" with Bret Witter. He is the founder of the Ted Williams Project, a non-profit organization serving homeless shelters.
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George Jarjour Chief Operating Officer Seen On Screen TV, Inc. (425) 367-4668 firstname.lastname@example.org