Uscom signs 5 year $7m China sales deal

Uscom signs 5 year $7m China sales deal

October 15th, 2013

Uscom Limited today announced completion of an agreement with Naqu Area Pioneer Pharma Co Ltd, Shanghai, a wholly owned subsidiary of China Pioneer Pharma Holdings Limited, to distribute Uscom devices in China. The agreement involves a commitment by China Pioneer to minimum purchases worth approximately $6.6m over 5 years, with target purchases of $8.3m. Distribution will commence on completion of China Food and Drug Administration (CFDA) approval expected in 2014.

China Pioneer Pharma Holdings Limited is a large Shanghai based Chinese medical distribution Company specialising in pharmaceuticals and medical devices, with estimated annual revenue in 2013 of 1.5b RMB ($260m AUD). China Pioneer has approximately 230 in house sales personnel, and is further supported by approximately 1000 third party partners, selling into 20,000 Hospitals and 50,000 drug stores. Pioneer was founded in 1996 by Paul Li (Li Xin Zhou).

President of Pioneer Pharma, Paul Li said, "Uscom has a focus on premium cardiovascular medical devices developed to improve clinical care for widespread application, and this is very much aligned with the philosophy of Pioneer. The Uscom products will be important for our on going growth, and we look forward to working with the Uscom team to deliver premium, cost effective technologies to the Chinese market and rapidly grow Pioneer."

Executive Chairman of Uscom, Rob Phillips said, "Pioneer Pharma brings Uscom great sales access to the increasingly sophisticated and rapidly growing Chinese medical device market. This commitment to a long-term partnership by Pioneer provides Uscom with a platform on which to introduce new and innovative medical products into China, and having an internationally respected partner is vital for success in China. We have spent many years learning about the Chinese market and building good relationships in China, and we look forward to working with China Pioneer to increase delivery of current and new Uscom devices into China. This is another major step in our commitment to restructuring global distribution and sales and further drives us toward profitability."

China has a population of 1.35b, and has more than 22,000 hospitals, more than 5.1m hospital beds, and more than 8.6m health care staff. China spends approximately 2.5tr RMB on health care or about 5.5% of GDP, and plans to increase this to 7% by 2020 to become the second largest health care market in the world.

References: WHO, China Statistics Bureau, Ministry of Health of the People's Republic of China, Ministry of Human Resources and Social Security of the People's Republic of China, Bank of China.

New Global Sales Manager Appointed

September 24th, 2013

Uscom Limited has announced the appointment of Mr Steve Haken as a UK based global sales manager. Mr Haken will over-see global sales and distribution for Uscom Limited for both the USCOM and BP+ products.

Mr Haken will immediately act to secure the establishment of a new global distribution for the Uscom BP+ suprasystolic central blood pressure device. Mr Haken will also seek new USCOM sales channels and actively motivate and support current USCOM distribution to achieve optimal worldwide sales targets.

Executive Chairman of Uscom, Rob Phillips said, "Uscom's focus is sales and revenue, and Steven's appointment is to optimize global sales and distribution for the two breakthrough Uscom technologies. The USCOM cardiac output monitor and the Uscom BP+ suprasystolic central blood pressure monitor are premium cardiovascular devices with FDA, CE and TGA approval, and practice changing applications in hypertension, heart failure and sepsis. The new sales network will include a mix of current and new distributors, partnerships and licenses."

Mr Haken has an Intensive Care Nursing background and attained an MBA from Imperial College in London in 2004. Mr Haken is a medical device sales specialist having spent the last 16 years selling devices in Europe for a number of global companies including GE Medical, Medtronic, Philips, Novartis, Welch Allyn, Pfizer, Drager and Laerdal.

Uscom Limited is an innovative developer and manufacturer of premium cardiovascular devices and has two practice leading technologies in the field of cardiovascular monitoring both with FDA, CE and TGA approval. The USCOM is a practice leading ultrasonic cardiac output monitor with proven application in sepsis, hypertension and heart failure. The BP+ is the premium supra systolic central blood pressure monitor for the identification and management of hypertension and heart failure. Central BP is the new standard of care for monitoring blood pressure, replacing simple arm measurement technologies by measuring the BP at the level of the heart; the Uscom BP+ is the most advanced central BP monitor.

Successful capital raising to support new sales and distribution initiatives

September 18th, 2013

Uscom Limited today announced the raising of $1.065m in a combined private placement to new and current sophisticated investors and exercise of options by staff. The funds will be directed to support current sales and marketing initiatives and new distribution partnerships. The issue was managed by brokers Lodge Partners.

Executive Chairman of Uscom, Rob Phillips said, "Uscom has two premium cardiovascular products and we are focused on getting a dominant position for these products in the global market. This will involve high quality sales and distribution partnerships of depth and breadth. These funds will support the transition to this sales and marketing strategy and provide for inventory replenishment and manufacturing to fill orders."

Uscom is an innovative developer and manufacturer of premium cardiovascular devices and has two practice leading technologies in the field of cardiovascular monitoring, both with regulatory approval. The USCOM is a practice leading ultrasonic cardiac output monitor with proven application in sepsis, hypertension and heart failure. The BP+ is the premium supra systolic Central Blood Pressure monitor for the identification and management of hypertension and heart failure. Central BP is the new standard of care for monitoring blood pressure replacing simple arm measurement technologies by measuring the BP at the level of the heart; the Uscom BP+ is the emerging central BP monitoring technology.