Medovex Corporation Enters Into International Distribution Agreement With Innosurge
Leading Supplier of Innovative Orthopedic Surgery Equipment to Distribute the DenerveX(TM) System Throughout Scandinavia, Including Denmark, Sweden, Norway and Finland
ATLANTA, GA -- (Marketwired) -- 04/05/16 -- Medovex Corp. (NASDAQ: MDVX) ("Medovex" or "Company"), a developer of medical technology products, today announced that the Company has entered into an international distribution agreement with Innosurge, a supplier of innovative orthopedic surgery equipment. The agreement covers the distribution of its DenerveX™ System throughout Scandinavia, including Denmark, Sweden, Norway and Finland.
Dennis Moon, Medovex Executive Vice President, stated, "Innosurge serves as a perfect call point fit for our mission to provide a successful distribution, sales and marketing foundation for our entry of the DenerveX System in all of Scandinavia representing an important market in Europe."
"With Innosurge as a specialized distributor offering complex and innovative spine products throughout Scandinavia, we are closing a gap while showing a professional presence in a major market," added Manfred Sablowski, Senior Vice President Sales & Marketing. "Our goal is to continuously improve our international market presence by expanding our network of strong distributors with knowledgeable sales and support personnel, and in close proximity to our customers."
Innosurge is expected to provide sales, marketing and distribution services for the launch of the DenerveX System.
The Company's patented DenerveX System, currently in final development and not yet commercially available, is designed to provide longer lasting relief of pain associated with the facet joint. Lower back pain is the second most common cause of disability in the U.S. for adults. Studies indicate that 10% of the U.S. adult population suffers from lower back pain and that 31% of lower back pain is attributed to facet joint pain.
The DenerveX System consists of the DenerveX device, a single use device, and the DenerveX Pro-40 Power Generator. The DenerveX system is designed to provide a minimally invasive treatment option which combines two actions into one device.
DenerveX is not yet CE marked or FDA cleared and is not yet commercially available.
Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Company's first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. To learn more about Medovex Corp., visit www.medovex.com.
Innosurge is a supplier of innovative surgery equipment. We take pride in finding and supply our customers with the very best and innovative products of the world. In 2010 we signed up with the company K2M concerning sale of spine implants in Denmark. In 2014 we expanded our sales to the other Nordic countries (Norway, Sweden and Finland). To learn more visit www.innosurge.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward- looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Source: Medovex Corporation
Released April 5, 2016