Wound Management Technologies has signed a five-year distribution agreement with Academy Medical, to market its CellerateRX line of products to the Veterans Administration (VA) facilities in the US.
The agreement includes a minimum acquiring amount of $600,000 from Wound Management and $1.5m for an initial span of two years, which is expected to grow up to $3m by the end of the contract.
The VA system represents more than 168 hospitals, 1,700 sites of care facilities and 8.3 million veterans.
Wound Management Technologies chairman and CEO Robert H Lutz said, "The agreement will allow our CellerateRX products to be carried under Academy Medical’s FSS number and be represented by over 50 of their sales representatives nationwide."
Academy Medical Partner Ed Desser said, "Adding CellerateRX to Academy’s wound care portfolio is an exciting opportunity for the company and consistent with our mission of facilitating first class health care to our nation’s veterans."