Brain Scientific Inks Major Distribution Deal with Hansraj Nayyar Medical – India Pvt. Ltd., Unlocks Largest Population’s Market for NeuroCap and NeuroEEG

Rhea-AI Summary

Brain Scientific has announced a significant distribution agreement with Hansraj Nayyar Medical – India Pvt. Ltd., expanding its market presence in India. This partnership aims to unlock the Indian medical device market, known for its extensive hospital network. The collaboration is expected to enhance Brain Scientific's distribution capabilities and sales of its neurology devices, particularly the NeuroCap™ and NeuroEEG™. CEO Hassan Kotob emphasized the growing demand for their innovative neurological testing solutions. The partnership aligns with the company's strategy to lead in the medical wearables sector.

Positive

• Distribution agreement with Hansraj Nayyar opens Indian market.
• Partnership expected to increase sales and distribution capabilities.
• Growing demand for innovative neurological devices noted by management.

Negative

• None.

Partnership opens up significantly larger market for Brain Scientific products and aligns company with well-established distributor in India

LAKEWOOD RANCH, Fla., March 09, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Brain Scientific (OTCQB: BRSFD), a Florida-based applied science technology company, announces today that it has signed a distribution agreement with Hansraj Nayyar Medical – India Pvt. Ltd. (“Hansraj Nayyar”), a nearly century-old, multigenerational company with a wide network of hospitals throughout India.

“This is a partnership we are very excited about,” said Chetan Nayyar, director of Hansraj Nayyar. “We have been around for nearly a century now. We know a good medical device when we see it – one that meets the needs of our large customer base. Brain Scientific’s integrated system is precisely what our medical communities have been asking us for.”

Hansraj Nayyar, a multigenerational, family-run, 98-year-old company, will help Brain Scientific further expand its sales and distribution network by unlocking the Indian marketplace as Brain Scientific continues to position itself as the leader in the quickly emerging medical wearables space.

“Partnering with Hansraj Nayyar, with coverage of the Indian market, greatly increases our ability to reach global customers who are looking for innovative solutions to their neurological testing challenges,” said Hassan Kotob, CEO of Brain Scientific. “We continue to see increased orders and accelerated demand for our neurology devices as the marketplace realizes the efficiency of our products.”

About Brain Scientific

Brain Scientific Inc. (brainscientific.com) is an applied sciences technology company with multiple patents and FDA-cleared products. Brain Scientific is committed to developing next-gen solutions that advance the future of medical and OEM devices. Brain Scientific has two product lines covering neurology and precision motion. The NeuroCap™ and NeuroEEG™ are smart neurological diagnostic devices that simplify administration, shorten scan time and cut costs. The Piezo Motion product line consists of ultra-efficient compact precision motors that will drive the next generation of OEM devices. To learn more about Brain Scientific's corporate strategy, products or investor relations, please visit brainscientific.com.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of EEG products and services and piezo motor technology; (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items; (iii) the company's future financial performance; (iv) the successful integration of Piezo Motion with and into Brain Scientific; and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, over many of which the company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the company's inability to obtain additional financing; the significant length of time and resources associated with the development of products and related insufficient cash flows and resulting illiquidity; the company's inability to expand its business; significant government regulation of medical devices and the healthcare industry; lack of product diversification; volatility in the price of the company's raw materials; and the failure to implement the company's business plans or strategies. Some of these and other factors are identified and described in more detail in the company's filings with the SEC. The company does not undertake to update these forward-looking statements.

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FAQ

What is the significance of Brain Scientific's partnership with Hansraj Nayyar?

The partnership significantly expands Brain Scientific's market reach in India, enhancing sales and distribution capabilities for its neurology devices.

When was the distribution agreement between Brain Scientific and Hansraj Nayyar announced?

The distribution agreement was announced on March 9, 2023.

What products does Brain Scientific offer under this new distribution agreement?

Brain Scientific offers products including the NeuroCap™ and NeuroEEG™, which are smart neurological diagnostic devices.

How does the partnership with Hansraj Nayyar affect Brain Scientific's market position?

The partnership positions Brain Scientific to better serve the growing demand in the Indian medical market, improving its competitive standing.

What is the stock symbol for Brain Scientific?

The stock symbol for Brain Scientific is BRSFD.