Covalon Signs Distribution Agreement with Medline
- Medline Industries Inc. is one of the largest Medical Product Distributors in the USA
- Covalon’s products now available to thousands of health care institutions throughout Medline’s
network
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced
that it has signed a distribution agreement with Medline Industries Inc. (“Medline”), the largest privately held medical
distributor in the United States, whereby Medline will be distributing Covalon-branded products, including IV Clear™, SurgiClear™,
and ColActive® Plus product lines into its extensive United States customer base.
“Hospital and clinic demand for IV Clear and SurgiClear has largely been the driver behind this opportunity with Medline,” said
Brian Pedlar, Covalon’s Chief Executive Officer. “We expect to see increased sales of our products through this channel in the
United States, and fully expect to grow our customer base of leading cancer treatment centers, pediatric hospitals, and wound care
clinics because of our products’ improved availability.”
Products distributed by Medline can be found in most hospitals, extended-care facilities, surgery centers, physician offices,
home care dealers, home health agencies, and retail outlets in the United States. Medline leads the market in more than a dozen
major medical product categories, including skin care, operating room kits, surgical trays, and advanced wound care. As a result,
many of the departments within healthcare institutions already have purchasing relationships with Medline which allows for a
seamless procurement process for purchasing Covalon’s products.
“Our new distribution relationship with Medline significantly expands the reach of our products within the United States
market,” said John R. Hands, Executive Vice President at Covalon. “Medline’s position of strength in categories that complement our
products makes for an obvious fit, and we are very excited about the growth potential that this opportunity represents. We have
been steadily building on the awareness and distribution capabilities of our products within the US market and we intend to take
full advantage of Medline’s specialized distribution programs to connect with their hospital, surgery center, nursing home, and
home health agency customers.”
Covalon offers infection management and advanced wound management dressings for both acute and chronic wounds, and is the only
provider of a dual antimicrobial silicone adhesive technology used in its IV Clear and SurgiClear brands. Both of these product
lines offer superior efficacy in helping to prevent infections and medical adhesive skin injuries, while providing total insertion
or incision site visibility to the healthcare provider.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the
world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies,
healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in
specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and
biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future
events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate",
"plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or
be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the
difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing
strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating
results and other risks, any of which could cause results, performance, or achievements to differ materially from the results
discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the
Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties
relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The
Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further
events or otherwise.
Covalon Technologies Ltd.
Brian Pedlar, 905-568-8400 x 233
CEO
bpedlar@covalon.com
Toll free: 1.877.711.6055
Web site:
www.covalon.com
Twitter: @covalon
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