TEL AVIV, Israel, Sept. 27, 2010 (GLOBE NEWSWIRE) -- mBeach Software Inc. ("MBHS") (OTCBB:MBHS - News): Following the August MOU with Russian company we are pressing for results from market penetration activities. To expedite the execution of mandatory procedures necessary for marketing approval in Russia, SCS, our wholly owned subsidiary, has forwarded all necessary information and technical support regarding SkinScan 650, our non-invasive, point-of-care system for the detection and identification of different types of skin cancers.
Russia and the CIS are among the fastest-growing healthcare markets globally. Total population of the region exceeds 270 million people, and there is increasing demand for advanced medical technologies. The health market opportunity is estimated at over $10 billion and forecast to grow at an impressive five-year compound average growth rate (CAGR) of 18.1% in US dollar terms.
According to health care experts, one of the most serious problems with cancer treatment in Russia is a very low rate of early detection. Typically, the disease is diagnosed at very advanced stages when treatment options are less effective and more costly.
These activities follow mBeach's recent announcement on the signing of an MOU for Russia and the Commonwealth of Independent States (CIS).
Completing these regulatory procedures will pave the way for local clinical trials and a full commercial launch of SkinScan 650. We expect to receive the initial approval by the end of November 2010.
About SCS
Skin Cancer Scanning Ltd. (SCS) is a medical device company pioneering the development of a revolutionary and proprietary imaging system for the early detection and diagnosis of skin cancer.
Our product, SkinScan 650, is a non-invasive, point-of-care (in the doctor's office) system to detect and identify different kinds of skin nevi, tumors, lesions and cancers. SkinScan 650 enables physicians to diagnose skin cancer at an earlier, more curable stage. This will reduce the number of biopsies, lower treatment costs, and improve quality of life.
For more information on SCS, visit www.scs-med.com.
Forward Looking Statements
This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of SCS' products, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.
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