RLS Global increases its presence in the Middle East
RLS Global strengthens its presence in the Middle East. Through a regional agent, Med Surg, the company will establish a local distribution network in Egypt, Saudi Arabia, Iraq, Lebanon, Qatar, the United Arab Emirates, Oman and Jordan.
The fact that RLS Global is establishing a network for the distribution of ChloraSolv, is an important step to obtain regulatory approval in the eight countries. The regulatory processes are estimated to take about three to twelve months, depending on the country. As soon as ChloraSolv is regulatory approved in a specific country, the commercial process starts.
The agreement with the regional agent Med Surg provides RLS Global with the opportunity for a strong presence, through the support of distributors who are each a major player in each country, throughout the Middle East. All distributors have well developed networks and extensive experience of products in advanced wound care. RLS Global will work with local major distributors such as Trios Care, Quadri Pharma, East one Medical, Plus Medical etc. RLS global has signed a 5-year agreement with Med Surg with the possibility of extension. The local distributors provide ChloraSolv at a fix price with a final customer price of approximately 400 SEK/treatment.
“We are now creating new revenue streams for ChloraSolv. This is an important step forward, completely in line with our strategy to enter the global market”, says Karin Fischer, CEO of RLS Global. ”A robust distribution network is crucial for the development of our business. Med Surg has a long and solid experience in the region within advanced wound care and is RLS Global’s partner to ensure a successful launch and penetration of ChoraSolv in these countries”.
“We are very pleased to enter this strategic transaction with RLS Global," said Hesham Elbakr, CEO of Med Surg. “We expect ChloraSolv to be an important treatment option for patients in need in the Middle East.”
ChloraSolv is a unique product used in the debridement of wounds with indications for diabetic foot ulcers and venous leg ulcers. There are approximately 81 million diabetic patients in the entire Middle East and the prevalence is expected to increase by 2045 according to the International Diabetes Federation (International Diabetes Federation. IDF Diabetes Atlas, 9th edn. Brussels, Belgium: 2019). The prevalence of diabetic foot ulcers is 7.2%.
“ChloraSolv with its unique properties will help many patients who are suffering greatly due to diabetes. It is also a patient group that is responsible for high health care costs”, says Karin Fischer. “We have been in contact with a number of key option leaders in the area who have already gained experience with ChloraSolv and are interested in being able to start treating patients with the product.”
RLS Global (publ) is obliged to make the information contained herein public pursuant to the EU market abuse regulation (MAR). The information was submitted for publication through the agency of the above contact person, 30-05-2022 08:30 CET.
TRADING PLACE AND CERTIFIED ADVISER
RLS Global’s shares have been listed on the Nasdaq First North Growth Market since 17th May, 2017 and trading takes place under the short name RLS. Certified Adviser is Redeye Aktiebolag, phone: +46 8 121 576 90, email: email@example.com. During the period 2012–2017, the company was listed on Aktietorget.
Karin Fischer, CEO, RLS Global
Phone: +46 702 48 46 51
ABOUT RLS GLOBAL:
RLS Global AB is a medical technology company within Life Science. Based on the company's unique hypochlorite platform, RLS develops and sells products for some of our most common diseases in wound and dental care. RLS has a portfolio of strong brands, including ChloraSolv® and Carisolv®.
RLS's long-term vision is to be a leading research-driven platform company in wound care. The ambition is to expand to new indications through new research and development projects in areas such as burns and dermatology. To maximize market presence, RLS intends to work with partners to commercialize products globally. RLS is convinced that the company's platform technology and its unique features will help many patients around the world. Read more at www.rls.global