Viromed Medical AG, a medical technology company specializing in cold plasma technology, has signed distribution partnerships for its ViroCAP® product in six new markets: Spain, Portugal, Greece, the Balkan region, Romania, and Saudi Arabia. The agreements, each with a separate company, significantly expand the company's international footprint and include minimum purchase quantities, leading to expected additional sales of at least 3,000 devices per year.
ViroCAP® is a mobile medical device used for treating skin conditions with cold atmospheric plasma, targeting hospitals, private practice physicians, and surgically active specialists. The device's expansion into these markets is a strategic move to meet the growing demand for innovative medical technologies in Southern and South-Eastern Europe and the Middle East.
Uwe Perbandt, CEO of Viromed Medical AG, stated, "With these new distribution partners, we are opening up several attractive markets in Southern and South-Eastern Europe as well as in the Middle East. The strong interest shown by our distribution partners underlines the high demand for our cold plasma technology. The new distribution partnerships are another important step in the implementation of our dynamic growth phase. Partnerships for additional countries are in preparation and are expected to be signed within the next four to six weeks."
This move builds on Viromed's existing international network, which includes an exclusive distribution agreement with South Korea's UMECO covering ten Asian countries and a partnership with TriPart TITAN GmbH & Co. KG for the Turkish market. The company has been listed on the stock exchange since October 2022 and operates through its wholly owned subsidiary Viromed Medical GmbH, focusing on the distribution of cold plasma technology.
The expansion into these new territories is a clear indicator of Viromed's growth strategy and the increasing acceptance of cold plasma therapy in medical practice. By securing distribution partners in diverse regions, the company aims to leverage its technology's potential and strengthen its position in the global medical device market.
