Avalon GloboCare Corp. (NASDAQ: ALBT), a leader in the development of cell-based technologies and diagnostics, has made a significant leap in the healthcare market with the announcement of its newest product, the GeeWhiz External Condom Catheter. This device, which is designed to manage male urinary incontinence, has officially started production through Laboratory Services MSO, LLC (“LSM”), with sales expected to kick off in the third quarter of 2024.
Avalon holds a strategic 40% interest in LSM, aligning with its mission to innovate in the medical device arena. The GeeWhiz External Condom Catheter is not just a product but a potential game-changer in the realm of male incontinence—a market that, according to Grand View Research, stood at $6.37 billion in 2022 and is forecasted to grow at a CAGR of 5.87% until 2030. This growth is propelled by the rising prevalence of incontinence, an aging global population, and continual advancements in product technology.
Innovative Design Meets Market Demand
Dr. David Jin, President and CEO of Avalon GloboCare, expressed enthusiasm about the upcoming product launch. “The GeeWhiz External Condom Catheter is a critical advancement in the management of male incontinence. It’s not only FDA-registered and approved for Medicare reimbursement but is also supported by several private insurance providers,” said Dr. Jin.
Designed with meticulous attention to detail, the GeeWhiz Catheter focuses on enhancing comfort, security, and ease of use. These attributes aim to significantly improve the quality of life for users and present robust solutions for those managing urinary incontinence and bladder control issues. Dr. Jin emphasized, “This product addresses a vital need in the market and is set to deliver substantial benefits to patients and healthcare providers alike.”
About Avalon GloboCare
Avalon GloboCare Corp. is a commercial-stage company committed to leading the charge in innovative and transformative healthcare solutions. With a portfolio that spans precision diagnostics and clinical laboratory services, Avalon uses proprietary technology to provide precise, genetics-driven diagnostic results. The company’s extensive range of services includes everything from drug testing and toxicology to comprehensive bloodwork and anatomic pathology.
For more information about Avalon GloboCare and its pioneering efforts in healthcare, visit www.avalon-globocare.com.
Stock Performance Insights
As of 3:01 PM EDT today, Avalon’s stock is trading at $0.5555, marking an increase of +0.2926 (+111.2971%) from its previous close. The stock has shown significant volatility with a day’s range of $0.5100 to $0.8399, and a 52-week range of $0.2400 to $1.4400. With a trading volume of 240,685,908, considerably higher than the average volume of 2,893,335, the market is keenly watching Avalon’s next moves in this innovative sector.
