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Distribution Agreement for needle-free insulin delivery system in Egypt and New Zealand The Medical House PLC (“TMH”), the medical equipment and devices company, announces that it has signed distribution agreements with Maxima Medical Marketing (PTY) Ltd and Roth Medical Components Australia (Pty) Ltd for the distribution in Egypt and New Zealand respectively of its needle-free system for the delivery of insulin. According to the W.H.O estimates for the year 2000, there were over 3.5 million people with diabetes in Egypt and New Zealand. The agreement for both these new territories will become effective following the regulatory process to approve the use of the CE-marked device for the delivery of insulin. This process is expected to be completed by the end of Q2 2004. The company anticipates revenues over the first 3 years of these agreements are estimated to be £580,000. Both Roth Medical and Maxima Medical already have distribution
agreements for Australia and Southern Africa respectively for
the distribution of the new Medical House needle free injection
system for insulin. Ian Townsend, Chief Executive, commented: “Since the start of the year we now have eight distribution agreements in place worldwide that will generate solid cash flow over the coming years and negotiations are ongoing with potential distributors in other countries where we have yet to formalise distribution agreements. We are particularly pleased to have signed a distributor for Egypt which has the 8th largest number of diabetes sufferers in the world.” - Ends - Note: The six distribution agreements currently in place cover:
Australia; the Southern Africa Development Communities (including
South Africa, Angola, Namibia, Botswana, Zambia, Swaziland, Zimbabwe,
Malawi, Mozambique and Lesotho); Israel; the Benelux countries
(Belgium, Holland and Luxembourg), Turkey; and Canada. |
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