S2Medical AB (publ) (the "Company") has terminated the exclusivity agreement with the Company's distributor in the United Arab Emirates and signed a new distribution agreement with Protech EMT ("Protech"). In connection with the signing of the distribution agreement with Protech, the Company receives the largest order to date for the skin substitute Epiprotect, in the country. The order amounts to approximately SEK 2 million and will be delivered during the day. The agreement with Protech also contains obligations for additional orders of at least SEK 25.3 million over the next 3 years to maintain the validity of the contract.
"We have made great progress in the sale of our skin substitute Epiprotect in the United Arab Emirates in recent years and have gone from being an unknown company in the region to currently representing the standard treatment for both burns and hard-to-heal wounds in several of the country's hospitals. By signing this new distribution agreement, we will significantly improve the conditions for increased revenue both in the short and long term. Our progress in the United Arab Emirates is of strategic importance in the region thanks to their close relationship with Saudi Arabia. We are therefore very much looking forward to getting a NUPCO code for Epiprotect so that we can maximize the exchange between the countries in order to reach profitability as quickly as possible." says the company's COO Mårten Skog.
This disclosure contains information that S2Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 13-04-2023 11:32 CET.