ALPHARETTA, Ga., Feb 24, 2012 (BUSINESS WIRE) –SANUWAVE Health, inc. /quotes/zigman/576958 SNWV -4.35% has entered into a two-year exclusive distribution agreement with CAN-med Healthcare, a division of IMP Group Limited, to distribute the Company’s dermaPACE(R) device throughout Canada. the dermaPACE device utilizes the Company’s Pulsed Acoustic Cellular Expression (PACE(R)) technology for acute and chronic wound healing. the agreement includes annual minimum purchase requirements and allows for term extensions.
Established over 40 years ago, CAN-med Healthcare has a reputation as a service-driven company with a commitment to improving healthcare and a thorough understanding of the market and their customers’ needs. CAN-med Healthcare strives to put in place proven, cost-effective solutions that help Canadians live longer and healthier lives, and they distribute a diverse range of medical offerings, including wound care and trauma products that complement dermaPACE.
Stephen McDonald, CAN-med Healthcare’s Vice President and General Manager, commented, “dermaPACE technology is a great fit for us, as it builds upon our legacy of bringing new, leading edge products to the Canadian market. As a company, we’re always looking for exclusive partnerships that involve innovative, clinically validated and differentiated technology that can improve patient outcomes and overall delivery of care. we believe we’ve met these objectives with SANUWAVE.”
“It is the mandate of every health department in Canada to improve care to all Canadians, while staying within the confines of increasingly tighter budgets,” added Jim Ritcey, Director of Sales and Marketing for CAN-med Healthcare. “We believe that dermaPACE, with its proven safety and efficacy, combined with its potential to reduce costs associated with chronic wound care, could truly be a ‘game changer’ in the battle against chronic wounds.”
“CAN-med Healthcare is a welcome addition to our growing distribution network for PACE technology, and they have the distinct honor of being the first PACE distributor in North America,” stated Christopher M. Cashman, President and CEO of SANUWAVE. “dermaPACE is approved in Canada to treat a wide range of acute and chronic wounds. CAN-med Healthcare’s initial focus will be on the treatment of diabetic foot ulcers, leveraging positive data from our recently completed pivotal clinical trial investigating dermaPACE to treat these debilitating and costly ulcers.”
Mr. Cashman concluded, “This collaboration is exciting news for both organizations, and we are equally committed to the hard work ahead of us to reach our ultimate goal of establishing dermaPACE as a first-line wound healing technology with established reimbursement throughout Canada.”
About CAN-med Healthcare CAN-med Healthcare, a division of IMP Group Limited, is a national, integrated healthcare distribution and service company in Canada with a portfolio of businesses providing products and technical service spanning four distinct segments of the healthcare market: Medical/Surgical; Diagnostic Imaging; Rehab/Mobility/Home Medical Equipment; and Dental products. IMP Group Limited is focused on global sustainable growth with 3,700 experienced people delivering service, quality and value to customers across diverse sectors including aerospace, aviation, airline, healthcare, information technology, hospitality and property development.
About SANUWAVE Health, inc. SANUWAVE Health, inc. ( www.sanuwave.com ) is an emerging regenerative medicine company focused on the development and commercialization of noninvasive, biological response activating devices for the repair and regeneration of tissue, musculoskeletal and vascular structures. SANUWAVE’s portfolio of products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, helping to restore the body’s normal healing processes and regeneration. SANUWAVE intends to apply its PACE technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE, is CE marked and has Canadian device license approval for the treatment of the skin and subcutaneous soft tissue and recently completed its pivotal Phase III, Investigational Device Exemption (IDE) clinical trial in the U.S. for the treatment of diabetic foot ulcers. SANUWAVE researches, designs, manufactures, markets and services its products worldwide, and believes it has demonstrated that its technology is safe and effective in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S. Class III PMA approved Ossatron(R) device, as well as stimulating bone and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of its Ossatron, Evotron(R) and orthoPACE(R) devices in Europe.
Forward-Looking Statements this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. the Company undertakes no obligation to update any forward-looking statement.
for additional information about the Company, visit www.sanuwave.com .
SOURCE: SANUWAVE Health, inc.
SANUWAVE Health, inc. Barry Jenkins, 678-578-0103 CFO or Bernie Laurel, 678-578-0103 VP of Sales and Marketing firstname.lastname@example.org
Copyright Business Wire 2012
SANUWAVE Announces Distribution Agreement for Canada