Business
UK Distribution Agreement with Diagmed Healthcare
UK Distribution Agreement with Diagmed Healthcare.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n \nRNS Number : 5016T Creo Medical Group PLC 04 July 2018 \n\n \nCreo Medical Group plc\n \nUK Framework Distribution Agreement with Diagmed Healthcare \n \nUK Clinical Education Program to be imitated alongside Market Seeding \n \n \nChepstow, Wales - 4 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 is has entered into a framework distribution agreement with Diagmed Healthcare Limited (\"Diagmed\"). \n \nUnder the terms of the agreement, Diagmed will collaborate with Creo over an 18-month period to seed the UK market with Creo's CROMA advance energy platform and Speedboat products. The agreement requires Diagmed to purchase a minimum quantity of CROMA advance energy platforms and Speedboat products from Creo during the first 18 months. In line with Creo's education led commercial strategy, Diagmed will also advance the roll out of Creo's Clinical Education Programme in the UK, to ensure quality control and best patient outcomes through the education of key clinicians in the use of Speedboat and the CROMA platform. Once the seeding phase is complete, it is intended that Diagmed and Creo will enter into a further agreement where Diagmed will be Creo's sole distributor for Creo's CROMA advanced energy electrosurgery platform and Creo's suite of GI devices in the UK, making Diagmed Creo's second distributor alongside Hoya Group, Pentax Medical.\n \nDiagmed Healthcare is the UK's leading, independently owned endoscopy and diagnostic equipment specialist with a customer base extending to 536 medical facilities in the UK. It has developed strong and long-term relationships with globally renowned KOLs in world class centres of excellence as part of its clinical training programme. This will help support Creo's future R&D product development pipeline and its commercialisation. The UK represents a significant marketing opportunity for Creo, both within the NHS and private practitioners.\n \nCreo's CROMA's electrosurgical platform combines bipolar radiofrequency for precise localised cutting and microwave energy for controlled coagulation. Speedboat RS2 is the first product approved in a suite of tools under developmen...