Business
NuGen Medical Completes Delivery and First Sale of 500 InsuJet(TM) Devices and Consumables in Romania
Toronto, Ontario--(Newsfile Corp. - September 20, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD)...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen Medical Completes Delivery and First Sale of 500 InsuJet(TM) Devices and Consumables in RomaniaToronto, Ontario--(Newsfile Corp. - September 20, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD) (the \"Company\" or \"NuGen\") is pleased to report it has completed the delivery and sale of the first 500 units of the Company's needle-free InsuJet™ injector device and consumables to SC Trustmed SRL (\"Trustmed\") in Romania as previously announced on June 12th, 2023. The sale, although small in size, was completed earlier than anticipated and represents a milestone for NuGen as our first completed bulk B2B sale. The Company estimates a 3 ½ year lifetime value of $450,000[1] for the sale of the 500 units of InsuJet™ to Trustmed, the value of the first delivery being $82,000. The order was received in Q2 2023 and was completed in mid-September with revenue booked and recognized in Q3 2023.The Company anticipates further sales from Trustmed and will report such sales as they occur. \"We are glad to announce the official launch of the InsuJet™ in Romania together with our local partner Trustmed. Over the past decade, Trustmed has had tremendous success in the sales of blood glucose monitors to diabetic patients in Romania. Taking advantage of the well-established reputation and sales network of Trustmed, NuGen looks to achieve similar success with the InsuJet™,\" commented Nicky Canton, COO of NuGen. \"Trustmed is happy to announce the launch in Romania of InsuJet™ products, a new range of medical devices in support of the diabetes community, patients and healthcare professionals alike that will improve the ease and comfort of insulin delivery. We look forward to being part of a successful story!\" commented Călin Năstase, National Sales Director of Trustmed.About NuGenNuGen is a specialty medical device Company that is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics. InsuJet™ is approved for sale in 42 countries around the world.For further information, please visit: Websites: www.insujet.com and www.nugenmd.comInstagram: @NuGenMDTwitter: @NuGenMDLinkedIn: https://www.linkedin.com/company/nugenmd/ For further information, please contact:Tony Di BenedettoExecutive Chairman(416) 79...