Vigmed’s partner launches safety I.V. catheters in India
Hindustan Syringes & Medical Device Ltd. (HMD), Vigmed’s manufacturing and sales partner, has launched safety I.V. catheters in India and are planning additional launches in another 20 countries.
The launch in India completes the story of a process that started in November 2012 with the signing of a Contract Manufacturing Agreement and continued with a signed License Agreement exactly one year later. After a period where machines were developed, delivered, validated and some design adjustments were made, the manufacturing lines are now running as planned and capacity is considered high enough to start a roll out in the designated markets of HMD.
HMD will market the products under their own brand, using SIPCLIP to describe Vigmed's technology and will focus on markets in South Asia, Middle East and Africa.
“We are very pleased to have reached this milestone, which will both increase penetration of Vigmed’s patented I. V. catheters in this particular region and offer Vigmed a steady income stream from royalty payments. Deliveries will start in smaller numbers as from April and are thereafter expected to increase continuously in the years to come,” says Finn Ketler, Vigmed CEO.
For further information contact:
Chairman of the board, Lennart Holm +46 70 630 8562 or CEO, Finn Ketler +46 42 600 5311
Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has approximately 20 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately 5 400 shareholders. Remium Nordic AB is the Company’s Certified Advisor.
Additional information such as company description, a video presentation and risk factors can be found on Vigmed’s website: www.vigmed.com/investor