17th Oct 2018 10:15
LONDON (Alliance News) - Creo Medical Group PLC said Wednesday it has entered into two framework distribution agreements to provide clinical training and market seeding in Spain and the Benelux countries.
The Benelux area is made up of Belgium, the Netherlands, and Luxembourg.
Creo has inked a deal with Spanish distributor JJP Hospitalaria SL and with Netherlands-based distributor Stinnow Medical to cover the Benelux.
Creo Medical shares were trading 5.0% higher at 218.44 pence each on Wednesday.
Both distributors will collaborate with Creo over an 18-month period to advance the roll out of Creo's clinical education programme, educating key clinicians in the use of Creo's Speedboat product and its CROMA platform.
CROMA is a platform combining bipolar radiofrequency and microwave energy for precise localised cutting and controlled coagulation.
Speedboat is a product used to help endoscopists in minimally invasive surgery.
"In addition, each distributor will commence seeding their respective markets with Creo's products, with the ultimate objective of entering into a formal long-term distribution agreements once the seeding phase has completed," Creo added.
Under both agreements, the distributors have to purchase a minimum quantity of CROMA platforms and Speedboat products, the first of which have already been shipped.
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