CS MEDICA has signed a distributor agreement with Forbe Healthcare Ltd – corresponding to an order value of DKK 37,1 millions over a 3,5 year period
CS MEDICA (”CS MEDICA” or the ”Company”) announces today that the Company has signed a distributor agreement with Forbe Healthcare Ltd. The agreement covers the territory of Israel and Palestine and includes CS MEDICA’s full portfolio of medical devices under the CANNASEN brand. The order, which concerns the full portfolio of medical devices amounts to 852,000 units, corresponding to DKK 37,1 million in revenue which will be distributed over 3.5 years if the terms and conditions are met. The terms include that the products will be introduced to the market if the products are approved my local authorities.
Lone Henriksen, CEO of CS MEDICA, pronounces:
"We are proud to announce that we have signed our first agreement that covers both the market in Israel and Palestine. For CS MEDICA, the signing of this agreement demonstrates the capabilities of our products and will be a key part of helping us reaching our financial goals in the years to come. I am proud that we continue to break ground on the global market and that our expansion is continuing.”
CS MEDICA reveals today that the Company has signed a distributor agreement with Forbe Healthcare Ltd. Forbe Healthcare Ltd. is a company focused on providing high-end healthcare products and services, striving to meet the everyday healthcare needs of consumers through innovative, high-quality, well-established, evidence-based products and solutions with a reach to all pharmacies and hospitals in both markets.
The order which concerns the full portfolio of medical devices, under the CANNASEN brand, amounts to 852,000 units, corresponding to DKK 37,1 millions in revenue, distributed over a 3.5 years period. CS MEDICA’s portfolio will be introduced to the market in Israel and Palestine later this year if approval of products is coming through with authorities. A breakdown of the annual order allocation is disclosed below.
2022: 65,000 units
2023: 140,000 units
2023: 243,000 units
2024: 404,000 units
This disclosure contains information that CS MEDICA A/S 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 28-06-2022 08:00 CET.
For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
Email: lh@galaxapharma.com
Website: https://www.cs-medica.com/
CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.
The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information about CS MEDICA cs-medica.com.