License Agreement signed between Vigmed and HMD
Vigmed and HMD signs License Agreement for I.V. Catheters on markets in South Asia, Sub-Sahara and parts of Middle East
In order to utilize the potential of its Intellectual Property Rights (IPR) Vigmed has signed an Agreement with their Indian partner, Hindustan Syringes & Medical Device Co. (HMD), where Vigmed grants HMD the right to utilize Vigmed patents on non-integrated safety I.V. Catheters and market these products under HMD’s brand in a selected number of markets. In return, Vigmed will receive an agreed volume-related license fee.
India is naturally the home market for HMD, and the company has a market share of more than 30%, therefore an exclusiveLicense Agreement has been agreed for India. Additionally, for South Asia, Sub-Saharan Africa and the Middle East (excludingtheGulf States) HMD has been offered a semi-exclusive LicenseAgreement, with the potential of adding other markets on a caseby-case basis.
Vigmed has retained all rights to enter agreements with International Donor Agencies regardless of place of business.
“We are very pleased to be able to cover a part of the world that we otherwise wouldn’t be able to penetrate as efficiently as we now can do together with HMD” says Vigmed’s CEO Finn Ketler.
“Adding this License Agreement to the manufacturing cooperation we already have in place with Vigmed is an important further step in our cooperation. We look forward to introducing Vigmed’s high quality solution to our customers” says Joint Managing Director Rajiv Nath of HMD.
Joint Managing Director HMD, Rajiv Nath.
CEO Vigmed, Finn Ketler.
For further information contact:
Vigmed CEO, Finn Ketler, +46426005311
HMD Joint Managing Director, Rajiv Nath +911294289000
HMD is the India’s leading Medical Device manufacturer - market leader of I V Cannula & Syringes & Needles in India having 8 highly automated Plants and more than 3000 Employee. It was founded in 1957 and is a family corporation.
More details can be found on HMD’s website : www.hmdhealthcare.com
Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has approximately 15 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately 5 400 shareholders. Remium Nordic AB is the Company’s Certified Advisor.
Additional information such as company description, a video presentation and risk factors can be found on Vigmed’s website: www.vigmed.com
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