US-based wound care device-maker E-QURE has signed a distribution agreement with Tech-Medica Equipos Médicos for its Bio-electrical Signal Therapy (BST) device in Colombia.
Bio-electrical Signal Therapy is an electrotherapy for non-invasive treatment of hard-to-heal chronic wounds and ulcers.
The company has recently signed distribution agreements in Argentina and Israel and marketing clearance is expected soon. The device received regulatory approval in Europe.
The agreement with Tech-Medica, according to E-QURE is part of the worldwide launch of BST device and to capture an estimated global wound care market worth $25bn.
E-QURE has signed a five year exclusive agreement with Tech-Medica to distribute its BST device along with accompanying disposable electrodes.
As per E-QURE, the agreement has scope for increasing minimum annual sales quotas. Tech-Medica will pay an initial advance payment to E-QUARE, which will be applied against first year’s quota, in addition for a minimum order agreed by both parties, as soon as the marketing approval is received.
E-QURE will supply Tech-Medica with the BST devices and disposable electrodes for treatment of patients in hospitals, long-term care facilities, medical centers and out-patient clinics.
Tech-Medica will be responsible in acquiring product certification, permit, license or approval that may be required for marketing, sales, sublicensing and treatment in Colombia.
E-QURE chairman Ron Weissberg said: "We intend to build revenues through sales of the BST in Colombia, Argentina, and Israel where we now have distribution agreements, as well as a few other countries we are now targeting, while we pursue regulatory approval in the US, the largest market in the world for wound care."