Thursday, May 31, 2012
Theralase Establishes Middle East Distribution Network
Theralase Executes Distribution Agreement with Large Middle East Medical Distributor to Sell Therapeutic Lasers
Toronto, Ontario, Canada – May 30, 2012, Theralase Technologies Inc. (TSXV: TLT) announced today that it has entered into an exclusive distribution agreement with Jordan based medical device distributor MediQu to market and sell the Theralase line of therapeutic medical lasers into the Middle East, branded as Theralase Arabia.
Under the terms of the agreement, MediQu will exclusively market and sell the Theralase therapeutic medical laser technology in Jordan, Lebanon, Syria, Iraq, Saudi Arabia, Kuwait, United Arab Emirates, Bahrain, Qatar, Yemen, Oman, Egypt, Sudan, Libya, Algeria, Tunisia, Mauritania and Morocco, in exchange for achievement of certain minimum performance criteria. The current term of the agreement specifies minimum performance criteria of $USD 5 million ramping up over the next 5 years with exclusivity extended into further 5 year terms with annual performance criteria.
Roger Dumoulin-White, President and CEO of Theralase Inc. stated that “MediQu is a large medical device distribution company in the Middle East that has partnered with Theralase to establish Theralase Arabia bringing to the table an impressive array of government, commercial and medical contacts. The Middle East represents a population of 384 million, located in 17 countries with a total GDP of approximately $2.3 trillion and a medical device market that exceeds $5 billion annually according to 2009 statistics. MediQu has established a distribution network that provides sales, marketing and service coverage to customers in 16 of those countries, allowing Theralase Arabia the ability to market, sell and service the Theralase brand of therapeutic medical lasers to this lucrative market. Theralase Arabia expects to exceed USD $5 million annually in the Middle East within 3 to 5 years of launch.”
Roger Dumoulin-White, President & CEO of Theralase went on to say, “Theralase has provided initial training to MediQu’s sales, technical and clinical personnel at our inaugural launch into the region at the 4th Biennial Emirates Physiotherapy Conference held in Dubai, United Arab Emirates on May 20 and 21, 2012.” He added, “We are currently negotiating with a number of other medical device distributors worldwide who have expressed an interest in marketing, selling and servicing the Theralase brand of superpulsed laser technology in their respective countries.”
Mr. Mohamed ALNabulsi, Project and Sales Manager of MediQu stated, “We were impressed with Theralase’s superpulsed laser system from the beginning and the dominance of the Theralase brand over the other competitive products we investigated. Theralase’s unrivalled scientific and clinical knowledge on the subject of therapeutic lasers was refreshing given the fact that most competitors we spoke to lacked the same understanding of the science. The Theralase technology was the only product on the market that we found that could activate all three known cellular pathways and provide a depth of penetration of four inches into tissue, promoting cellular regeneration at the source of tissue injury. Initial testing at our key medical facilities in Jordan has been exceptional, with all patients treated experiencing significant pain relief, substantial inflammation reduction and accelerated healing. We are delighted to partner with Theralase to roll-out this technology to the rest of the Middle East countries we service. We have long term relationships with numerous major hospitals, medical clinics and doctors in the region and will be able to proactively promote the Theralase product line immediately. Alternative medicine is embraced in the Middle East and we feel confident that Theralase’s leading edge technology will be accepted and adopted at all levels of government and private medicine.”
MediQu is the commercial trademark for Fatima for Medical device company servicing 16 countries in the Middle East region. MediQu possesses significant experience regarding sales, service, regional requirements and trade regulations of the various countries in which it does business. In addition, MediQu has built strong connections at the government, commercial and medical levels enabling it to generate strong sale leads, participate in government tenders and clearly communicate the clinical advantage of its products over other competitive products allowing it to dramatically increase market share of its represented products in the region.
About Theralase Technologies Inc.:
Theralase Technologies Inc., founded in 1995, designs, develops, manufactures and markets patented, superpulsed laser technology utilized in biostimulation and biodestruction applications. Theralase technology is safe and effective in treating pain, inflammation and for tissue regeneration of neural muscular skeletal conditions and wound healing in both humans and animals. Theralase complies with all FDA, Health Canada, CE and international regulatory approvals to ensure effective, safe and high quality products. Theralase also develops patented Photo Dynamic Compound (PDC) technology focused at targeting and destroying cancers, bacteria and viruses when light activated by Theralase’s proprietary and patented laser technologies.
For further information please visit www.theralase.com, regulatory filings may be viewed by visiting www.sedar.com.
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this release.
For More Information, please contact:
Roger Dumoulin - White,
President and CEO
416-447-8455 ext. 225
Chief Financial Officer
416-447-8455 ext. 224
Director of Investor Relations
416-447-8455 ext. 262
Chief Scientific Officer
416-447-8455 ext. 242
+962 77777 30004