STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Bactiguard establishes market presence in Portugal by entering an exclusive distribution agreement with Socime Medical Ltd, covering all products in the Bactiguard infection protection portfolio.
“Expanding our geographical footprint in Europe is an important part of Bactiguard’s strategy. By entering the Portuguese market we take an important step in this direction”, says Johan Rugfelt, CEO
Through this agreement, Bactiguard expands its market presence to 51 countries worldwide. Earlier in the second quarter a distribution agreement for Iran was signed.
Portugal has a population of 10.6 million inhabitants and spends close to 10 percent of GDP on healthcare. Approximately 11 percent of the patients in Portuguese hospitals are affected by healthcare associated infections and multi-resistant bacteria are increasing, like in the rest of the world. Implementing preventive measures to counteract these problems is therefore essential.
The Portuguese market for products within Bactiguard’s focus area e.g. Foley catheters, central venous catheters and endotracheal tubes, is currently estimated at approximately 6 MEUR per annum.
“Socime Medical began marketing and distributing medical and surgical equipment in 1997, in the fields of neurosurgery and interventional cardiology. Since then, we have broadened the scope of our business, looking for new products and seeking out the best solutions to health needs in Portugal.
We excel by selecting our suppliers with care, thereby ensuring the total reliability of the products we represent and look forward to introducing the Bactiguard portfolio for infection prevention on the Portuguese market”, says Paulo Amaro, owner of Socime Medical Ltd.
Bactiguard is a Swedish medtech company with a business concept of preventing healthcare-related infections, reducing the use of antibiotics and saving lives by developing and supplying infection prevention solutions for the healthcare industry. The company’s patented coating prevents healthcare-associated infections by reducing bacterial adhesion and growth on medical devices. Bactiguard®-coated urinary catheters are market leading in the US and Japan, and in recent years the company has developed its own product portfolio of coated catheters for the urinary and respiratory tract and the blood stream. Bactiguard is currently in a strong expansion phase, focused on new markets in the EU, Middle East, Asia and South America. The company reported sales of approximately SEK 130 million in 2013 and has 60 employees, headquarters in Stockholm and production facilities in Sweden and Malaysia. The Bactiguard share is listed on Nasdaq Stockholm. Read more at: www.bactiguard.se
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