Business
Agreement with First Medical Company
Agreement with First Medical Company.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n \nRNS Number : 9705T Creo Medical Group PLC 09 July 2018 \n\nCreo Medical Group plc\n \nSouth African Framework Distribution Agreement with First Medical Company\n \nSouth African Clinical Education Program to be initiated alongside Market Seeding \n \nFirst products exported in EMEA region for clinical use\n \n \nChepstow, Wales - 9 July 2018 - Creo Medical Group plc (AIM: CREO) (\"Creo\" or the \"Company\"), a medical device company focused on the emerging field of surgical endoscopy, today announces that it has entered into a framework distribution agreement with First Medical Company (\"First Medical\"). \n \nUnder the terms of the agreement, First Medical in conjunction with Creo will seed the South Africa, Botswana, Namibia and Mozambique markets with Creo's CROMA advance energy platform and Speedboat products over an 18 month period. First Medical will purchase a minimum quantity of CROMA advance energy platforms and Speedboat instruments during the first 18 months. In line with Creo's education led commercial strategy, First Medical will also advance the roll out of Creo's Clinical Education Program in its jurisdictions, to ensure quality control and best patient outcomes through the education of key clinicians in the use of Speedboat and the CROMA platform. On completion of the seeding phase, it is anticipated that a further agreement will place First Medical as Creo's exclusive distributor for Creo's CROMA advanced energy electrosurgery platform and Creo's suite of GI devices in South Africa, Botswana, Namibia and Mozambique. \n \nThe first CROMA advance energy platforms and Speedboat products for clinical use in South Africa, Creo's first export market in the EMEA region, have been shipped to First Medical, and market seeding is expected imminently.\n \nFounded 20 years ago, First Medical imports and distributes medical products and devices into Southern Africa. It has developed strong and long-term relationships with key clinicians in the region, which will assist in establishing Creo's Clinical Education Program in Southern Africa. First Medical has more than 300 clients ranging from medical professionals to both private and government hospitals. They are a leading company in the field of endoscopy.\n \nCreo's CROMA's electrosu...