January 27, 2016 -
Biometric medical security solutions provider Rx Safes Inc. has signed a licensing agreement with Talon Brands LLC, a manufacturer and seller of fingerprint products, for the rights to sell various fingerprint technology products in North America.
Rx Safes provides biometric medical security solutions for the prescription (Rx) and over-the-counter (OTC) drug security sectors to address Rx and OTC drug diversion and abuse.
This is the first licensing agreement for Rx Safes and introduces a new source of revenue for the company outside of the health-care market focus.
According to the terms of the agreement, Talon Brands will become the preferred distributor of Rx Safes’ products and will also introduce Rx Safes products through its existing and established distribution channels, which include Grainger and Home Depot.
In a statement regarding the partnership, Lorraine M. Yarde, CEO at Rx Safes, said that the execution of this agreement recognizes and validates the company’s intellectual property and expands its reach beyond its primary health-care target market and that the company anticipates that it will continue to be able to support and protect its proprietary patented technology as the demand for biometrics increases across a wide range of industries.