Toronto, Ontario, Canada – October 2,
2012, Theralase Technologies Inc. (TSXV: TLT)
announced today that it has expanded the distribution of Theralase products
into mainland China by signing an exclusive distribution agreement with an
active, established Chinese medical device distributor, Chengdu Disi Industrial
Co. Ltd. (Chengdu Disi).
Under the
terms of an exclusive distribution agreement, Chengdu Disi will market, sell and
provide customer support on Theralase therapeutic lasers to government, public
and private hospitals, in China, training them in the safe and effective
operation of this cutting edge technology
Theralase will
train Chengdu Disi’s sales, marketing and clinical personnel in the safe and
effective operation of Theralase therapeutic lasers, as well as be the
exclusive supplier to Chengdu Disi, in exchange for Chengdu Disi achieving
specific minimum sales performance.
Prior to
July 1, 2013, Chengdu Disi and Theralase will commit to binding minimum performance
sales criteria for a further 3 years to allow Chengdu Disi the ability to
maintain their exclusivity.
Sales estimates
for the first year commencing July 1, 2013 are planned to exceed $USD 1 million.
Roger
Dumoulin-White, President and CEO, stated “Chengdu Disi is a well established
Chinese medical products distribution company that will introduce the Theralase
brand to a large group of government, public and private hospitals. China’s current
population, the world’s largest at 1.34 billion, reports an annual growth rate of
9.2%, with current GDP in excess of $USD 11 trillion annually. It also boasts
the world’s fourth largest medical device market with annual sales in excess of
$USD 14.8 billion.”
Roger
Dumoulin-White, President & CEO of Theralase went on to say, “China is just
one of the major world markets, along with the U.S., that Theralase is
currently pursuing to expand our international distribution network. We are presently
negotiating with a number of other worldwide medical device distributors who
have expressed their interest in distributing the Theralase brand.”
Mr.
Shengcai Xiong, President of Chengdu Disi Industrial Co. Ltd. stated, “We were
impressed with Theralase’s superpulsed laser system from the beginning and the
dominance of the Theralase brand over other competitive products. Theralase’s
scientific, clinical and technical knowledge on the subject of therapeutic
lasers was unparalleled in the industry and combined with Theralase’s ability
to be the only product on the market that can activate all three known cellular
pathways promoting cellular regeneration up to 4 inches into tissue, we were
convinced that Theralase was the right partner for us. We are pleased to
partner with Theralase to rollout the Theralase brand in China and are
confident that we will be successful in this endeavour. We have long-term
relationships with numerous government, public and private hospitals and will
be able to proactively promote the Theralase brand to this market. Alternative
medicine is embraced in the Chinese market having been the birthplace of
acupuncture and we strongly feel that Theralase’s leading edge technology will
be well accepted and adopted at all levels of medicine in China.”
About
Chengdu Disi Industrial Co. Ltd.:
Chengdu
Disi Industrial Co. Ltd., founded in 1994, has developed a reputation for
launching new products through its distribution network in China, having worked
with Fortune 500 companies, distributing retail and commercial products
throughout China. Chengdu Disi Industrial has a 2,000 sq. ft. sales, marketing
and customer support facility in the business district of Chengdu, the capital
of Sichuan province located in the heart of Southwest China. The company is
well capitalized and has built strong contacts with the medical community.
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
Kristina
Hachey
Chief
Financial Officer
416-447-8455
ext. 224
Greg Bewsh
Director of
Investor Relations
416-447-8455
ext. 262
Arkady
Mandel
Chief
Scientific Officer
416-447-8455
ext. 242
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