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CS MEDICA Onboards distributors with first-year orders of DKK 5.6M and cash flow positively effect by shorter lead times

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CS MEDICA A/S will deliver 45.500 pain patches in July to customers and thus faster than expected and have signed new distributors in new regions with an estimated order value of 5.6M DKK in the first contract year.

CS MEDICA A/S (“CS MEDICA” or the “Company”) is happy to announce that the order intake from Q1 on the Pain Patch is ready for delivery in July, with an approximately two months shorter lead time than last year orders. Hence the company's new own-label customers in Italy (Montefamarco), Austria (BioBloom), and existing customer Forbe Health in Israel will receive the 45.500 products in total within two months, which will have a positive effect on CS MEDICA's cash flow.

Lone Henriksen, CEO CS MEDICA, comments 

 "It is very positive to witness the effect from our improved processes which not only benefits our customers, but also CS MEDICA's cash flow".

New European and APAC distributors
CS Medica has signed new, strong distributors in Balkan and Australia for the entire CANNASEN® line of products. 

  • PalcoNutrifit has a strong foothold in the Balkan markets of Croatia, Serbia, Bosnia, and Montenegro and will assist in speeding up the product registration outside the EU. The first-year contract value is 2.6M DKK.
  • ICON Medipharm is an international and prominent distributor and wholesaler of pharmaceutical and medical consumables in Australia with 3,500 pharmaceutical products and 1,500+ medical supply products. ICON Medipharm further supplies cannabis clinics in Brisbane and will assist with the local registration of the CANNASEN® products. ICON Medipharm's network also includes the UK, the EU region, and South East Asia allowing expanding the relationship further after Australia is launched. The first-year contract value is 3M DKK.

Lone Henriksen, CEO CS MEDICA, continues

 "We are proud to announce our presence in APAC (Asia Pacific) is growing with strong partners as this target region is one of the fastest growing within CBD and alternative OTC products. Furthermore, we are pleased that the European markets are actively requesting to distribute our branded products."

Outlook for 2022/23 is reiterated
The Company's expectations of year-to-date revenue growth of 120-130% from DKK 10.6M in 2021/22 and increased operating profits are reiterated.


For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
Email: lh@cs-medica.com
Website: https://www.cs-medica.com/

CS MEDICA A/S is a Danish-based MedTech company operating within research, development, manufacturing, commercializing, and a part of the pharmaceutical industry. The company combines science and nature with the purpose of creating products for a better every day by using modern technology to research and utilize different compounds found in the cannabis plant. CS MEDICA offers efficient, safe OTC alternative treatments for autoimmune and stress-related disorders under the trademark CANNASEN® or own label options.

The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information, visit cs-medica.com, and LinkedIn.

Tags:

partnerships cannabisindustri marketexpansion Medicaldevice

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Quotes

It is very positive to witness the effect from our improved processes which not only benefits our customers, but also CS MEDICA's cash flow
Lone Henriksen, CEO CS MEDICA
We are proud to announce our presence in APAC (Asia Pacific) is growing with strong partners as this target region is one of the fastest growing within CBD and alternative OTC products. Furthermore, we are pleased that the European markets are actively requesting to distribute our branded products.
Lone Henriksen, CEO CS MEDICA