Sungwon Medical has entered into an agreement to distribute Revolutions Medical's RevVac auto-retractable vacuum safety syringe.
Under the agreement, Sungwon has gained distribution rights of the RevVac safety syringe in South Korea with minimum order requirements of 1.5 million units per quarter.
Sungwon said prior to distributing the product in South Korea, it will work with Revolutions to register the product with the South Korean Food and Drug Administration.
Sungwon Medical managing director David Hee Lee said the company has many good relationships with doctors and hospitals in South Korea and feel confident they will be impressed by the RevVac auto-retractable vacuum safety syringe.
"We are going to work aggressively with Revolutions Medical to market the RevVac safety syringe," Lee added.
The RevVac auto retractable vacuum safety syringe utilizes a patented technology in which a vacuum causes the needle to retract into the barrel of the syringe or device after an injection is administered or blood is drawn.