3 Apr 2013 07:00
PuriCore plc
("PuriCore" or the "Company")
3 April 2013
PuriCore Signs Vashe Marketing Agreement with SteadMed Medical
PuriCore(LSE: PURI), the water-based clean technology company, today announces a marketing and distribution agreement with SteadMed Medical, a leading marketer of acute and chronic wound care products, for the Company's Vashe® Wound Therapy. SteadMed will provide marketing and distribution services for Vashe in the US, Canada, and Mexico and will target hospitals, wound care centres, nursing homes, and home health agencies.
Under the terms of the multi-year agreement, PuriCore receives an upfront payment of $500,000 and will receive royalties in the high teens based on sales volumes. All intellectual property related to Vashe Wound Therapy remains under the ownership of PuriCore.
Vashe Wound Therapy is a safe and effective non-antibiotic alternative wound treatment for acute and chronic wounds that is demonstrated to be extremely gentle and hypoallergenic. Vashe has been rigorously safety tested and is non-cytotoxic, non-irritating, non-sensitizing, and has no oral toxicity or clinical contraindications for use. Vashe Wound Therapy is intended for use in cleansing, irrigating, moistening, and debriding acute and chronic dermal lesions, such as Stage I-IV pressure ulcers, stasis ulcers, diabetic ulcers, post-surgical wounds, first- and second-degree burns, abrasions, and minor irritations of the skin. Vashe Wound Therapy is available by prescription only.
According to Global Data, the US wound care market is currently valued at $6.2 billion and is growing at 5% per year and. By 2015, the US wound care market is forecasted to grow to $7.5 billion.
Michael Ashton, Executive Chairman of PuriCore, said:
"Leading hospitals, wound care centres, and home healthcare providers use Vashe Wound Therapy as a safe and effective treatment for chronic and acute wounds, including diabetic ulcers and burns. This agreement expands PuriCore's reach through SteadMed's experienced sales, marketing, and clinical teams whilst enhancing their already strong wound care portfolio in the North American wound care market."
Michael Steadman, President and Chief Executive Officer of SteadMed Medical, said:
"Vashe Wound Therapy is an excellent addition to our portfolio of products that are specifically selected to address the growing patient needs in acute and chronic wound care. We believe in marketing the highest quality products available, positioned as comprehensive solutions to healthcare practitioners and to the patients they treat. Vashe Wound Therapy is a welcomed and much-needed product for the millions of patients who suffer with acute and chronic wounds."
About PuriCore
PuriCore plc (LSE: PURI) is a water-based clean technology company focused on developing and commercialising proprietary solutions that protect people from the spread of infectious pathogens without causing harm to human health or the environment. The Company's products are used in a broad range of markets that depend upon effective pathogen control. PuriCore is the leading full provider of all products and services required for a safe, efficient, and compliant endoscope decontamination to protect patients in UK hospitals. The Company's products are the standard for food safety and are used for floral care in leading US supermarket chains. PuriCore also offers a breakthrough wound therapy solution to treat chronic and acute wounds including diabetic ulcers and burns. PuriCore is headquartered in Malvern, Pennsylvania, with operations in Stafford and Clevedon, UK. To receive additional information on PuriCore, visit www.puricore.com, which does not form part of this announcement.
About SteadMed Medical
SteadMed Medical provides innovative medical devices and therapeutic products to hospitals, wound care centers, nursing homes, and home health agencies with a focus on acute and chronic wounds, skin moisturization, and incontinence care. SteadMed's extensive portfolio of products can optimize protocols for the care and management of skin and skin breakdown. The company has dedicated field representatives, customer service and clinical personnel who bring comprehensive solutions to those with wound and skin care complications. To receive additional information on SteadMed Medical, visit www.steadmed.com.
Enquiries:
UK | US |
FTI Consulting | Sage Strategic Marketing |
Susan Stuart/Simon Conway/Victoria Foster Mitchell | Jennifer Guinan |
+44 (0) 20 7831 3113 | +1 610.410.8111 |
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.