Calmark signs distributor agreement with Techno Orbits in Saudi Arabia
Calmark Sweden AB announced today that an exclusive distributor agreement has been signed with the company Techno Orbits in Saudi Arabia regarding Calmark's bilirubin test for newborns.
Techno Orbits was founded in 2007 and is a well-established and successful company with a large market share and extensive experience in the medical technology industry. Company is headquartered in Riyadh and several branches in Saudi Arabia and Amman. The company has approximately 150 employees and has good contacts with the Ministry of Health. Techno Orbits is the market leader in PNA testing and has products for neonatal care, including for the treatment of high bilirubin values.
Approximately half a million children are born annually in Saudi Arabia, and tech products to be sold in the country need to be registered before launch, which Calmark estimates will take 3 – 6 months.
“I am very pleased to have concluded this distributorship agreement as Techno Orbits is cut and dried for our Neo-Bilirubin product. The company has already developed the right customer base, understands the value of being able to test close to patients and knows that our product will make a difference," says Anna Söderlund, CEO of Calmark. "I look forward to a very rewarding collaboration with this motivated distributor!"
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
This disclosure contains information that Calmark Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 11-12-2023 12:55 CET.
For more information about Calmark Sweden AB, please contact:
Anna Söderlund, CEO
Telefon: +46 70 214 98 93
E-post: anna.soderlund@calmark.se
www.calmark.se
Calmark Sweden AB is a medical technology company that manufactures and markets a point-of-care (POC) analysis method with easier and faster diagnostics of medical conditions in newborns. The unique test platform consists of a portable instrument and test cassettes for various biomarkers. The first test, Neo-Bilirubin, is CE marked and measures the bilirubin level in whole blood for jaundice detection in newborns. In the Western world, the introduction of POC diagnostics is resulting in huge savings and shorter care chains. In less developed healthcare systems, the product offers a decision support which is currently lacking, since the access to hospital laboratories often is limited. Calmark aims to become the global leader in POC diagnostics for newborns and, in the long term, to offer all relevant tests for the first period of life. The B share is listed on the Spotlight Stock Market and is traded under the CALMA B ticker. Read more at www.calmark.se/eng/home.
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