- Source : Press Release
- Date : 2018-12-21
- Companies : Bactiguard AB
New Major Order from China
Bactiguard has received a new order from Well Lead Medical (Well Lead) in China. The order will be delivered before the end of the year and generate revenues in the fourth quarter of approximately SEK 10 million.
In June 2018, Bactiguard signed a combined distribution and license agreement with Well Lead at an initial value of over 30 million. At the same time, the cooperation with former distributor Jian AN was terminated and Bactiguard paid a compensation of approximately SEK 11 million for their investments in the marketing and Chinese product approval process.
The agreement with Well Lead, China's leading manufacturer of consumable medical devices, includes all products in Bactiguard's portfolio and initially generates revenues of more than SEK 30 million in the form of product deliveries and license fees.
The first product order was of the same size as the new order and generated revenues of approximately SEK 10 million in the second quarter. In addition, the agreement with Well Lead has generated license revenues of just over SEK 8 million so far this year.
This information is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below 2018-12-21, at 14:15
For further information, please contact:
Cecilia Edström, CFO, cell phone: +46 72 226 23 28
Bactiguard is a Swedish medical device company with a mission to save lives. To achieve this mission we develop and supply infection prevention solutions which reduce the risk of healthcare associated infections and the use of antibiotics. This way, we save significant costs for healthcare and the society at large.
The Bactiguard technology prevents bacterial adhesion and biofilm formation on medical devices. Bactiguard offers the technology through licence agreements and our BIP (Bactiguard Infection Protection) portfolio of products. Through our licence partner BD, urinary catheters with Bactiguard’s coating are market leading in the USA and Japan. Bactiguard’s own product portfolio of urinary catheters, endotracheal tubes and central venous catheters prevent some of the most common infections, which appear in the urinary tract, the blood stream and the respiratory tract.
Bactiguard is in a strong expansion phase in the European markets, China, India and the Middle East as well by establishing license agreements in new therapeutic areas. The company has about 70 employees around the world. Its headquarters and one of two production facilities are located in Stockholm, the other one in Malaysia. Bactiguard is listed on Nasdaq Stockholm.
Read more about how Bactiguard saves lives at www.bactiguard.com