Medovex, a developer of medical technology products, has entered into an international distribution agreement with AlfaMed, a supplier of innovative spine surgery equipment.
The agreement covers the distribution of its DenerveX system throughout Italy.
Dennis Moon, Medovex Executive Vice President, stated, "AlfaMed s.r.l. 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 Italy, representing an important market in Europe."
"With AlfaMed s.r.l. as a specialized distributor offering complex and innovative spine products throughout Italy, we are closing a gap while showing a professional presence in a major market," added Manfred Sablowski, Senior Vice President Global 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."
AlfaMed s.r.l. 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.
AlfaMed s.r.l. boasts an experience of over twenty-five years in this business. It began as an authorized dealer in the regions of Marche, Abruzzo, Umbria and Molise.
Since 2007 it is also structured as an importer and distributor for Italy of certain products for Spine, Pain Therapy, Obesity Surgery and Vascular Access. Commercially, it has positioned itself with innovative and exclusive hospital devices, qualitatively higher than the average.