Navamedic strengthens its position in the hospital market

Navamedic ASA (OSE: NAVA), the Norwegian pharmaceutical products company, today announced a supplier agreement aimed at further improving the Company's position in the Nordic hospital market.

Navamedic has included PlantTec Medical GmbH of Germany in its pool of suppliers for pharmaceutical products. The first drug to be launched in the Nordic region as part of the cooperation is PlanTec's 4DryField, a product used during surgical procedures to reduce bleeding and accelerate healing. The Nordic market for this particular product group is expected to grow beyond NOK 100 million in the next 3-5 years.

Since 2011 Navamedic has developed its position as a supplier of numerous hospital drugs, mainly specialized products for use in surgical operations and other specialized procedures. The cooperation with PlantTec is expected to improve Navamedic's position in the Nordic hospital market even further, in particular in two of the Company's core areas, gynecology and urology.

"We are constantly expanding our supplier base, and PlantTec's product line is highly complementary to our growth strategy and existing product portfolio of more than 100 health care products," said Navamedic CEO Olof Milveden.

PlantTec Medical is developing, producing and marketing innovative technologies for the rapidly changing demands in the medical market. PlantTec aims at introducing highly efficient, completely plant-based products to combine optimum effectiveness and reduced adverse events to a minimum.

Navamedic has been expanding its portfolio of generic and patented drugs over the last three years and aims for a leading position in the Nordic and Benelux generics markets. The Company has a broad pipeline of products within its core areas Pharma, Medical Nutrition and Consumer Care expected to be launched in 2013 and 2014. Navamedic forecasts a strong sales growth in 2013.

For further information, please call Olof Milveden, CEO, telephone +46 733 463 736 or Bjørn Lindholt, CFO, telephone +47 9300 6601.

Navamedic ASA is a Norwegian pharmaceutical products company, marketing and distributing more than 100 products in the Nordic and Benelux markets. The Company operates three business areas; Pharma Products, Medical Nutrition and Consumer Care based on its relationship with a number of pharmaceutical product manufacturers. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).