SPONSORSHIP & ATTENDANCE AT GDFC MUSCAT OMAN NOV 7-10
INITIAL ORDERS UNDERWAY
SUWANEE, GA, Oct. 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SANUWAVE Health, Inc. (OTCQB: SNWV), an emerging medical technology company focused on the development and commercialization of noninvasive, biological response activating devices in regenerative medicine, today announced their attendance and sponsorship in the Global Diabetic Foot Course (“GDFC”) in Muscat, Oman taking place November 7-10, 2019 through our partners in the region, Taiba Healthcare and MenaCare.
GDFC is a premier interdisciplinary diabetic foot four day course taking place November 7-10, 2019 in Muscat, Oman. In its 6th year, the course is designed for the wide spectrum of generalists and specialists who diagnose and manage diabetic foot conditions. Didactic talks, video presentation, clinical case discussion, and hands-on workshops will delve into diagnostic and interventional strategies for diabetic foot ulcers and amputation prevention and management. Featuring a world-renowned international and regional faculty, GDFC offers the opportunity to review state-of-the-art concepts and techniques with the combination of lectures from different specialists and hands-on workshops. Course participants will gain insight into both the theory of the field and the practical methods used in management of Diabetic Foot.
SANUWAVE® expects to expand partnerships and coverage in the Gulf Cooperation Council (“GCC”), which includes Saudi Arabia, Oman, Kuwait, United Arab Emirates, Qatar, and Bahrain, in the coming weeks with more news to follow. “Taiba Healthcare is a great partner as we enter the market in Oman. We plan extensive training on the devices during the GDFC conference in Muscat and treatments beginning on patients this year. The epidemic facing the GCC is tremendous and we continue to drive to our goal of having a dermaPACE® System anywhere and everywhere a diabetic foot ulcer (DFU) is treated,” said Kevin Richardson, CEO of SANUWAVE®.
Diabetes affects between 25% and 35% of the adult population in the GCC. The estimated economic annual cost is over $70 billion with an economic impact of approximately 5.2% of GDP. This physical and financial impact is substantially higher than in the U.S. which has a 9.2% prevalence rate. The International Diabetes Foundation estimates that there will be a 130% increase in the number of people with diabetes in the GCC over the next 20 years.
The Rise of Diabetes in Oman.
The total registered diabetic cases at the national level in Oman are 89,246 cases, per the latest statistics available December 2018. During the past four decades Oman has undergone a rapid socioeconomic and epidemiological transition leading to a substantial reduction in the prevalence of various communicable diseases, including vaccine-preventable diseases. Health care planning, together with the commitment of policy makers, has been a critical factor in this reduction. However, with rapid social and economic growth, lifestyle-related non communicable diseases have emerged as a new health challenge to the country. Diabetes and obesity are leading risks posed by the chronic diseases. The burden of diabetes has increased sharply in Oman over the last decade, rising from 8.3% in 1991 to 11.6% in 2000 among adults aged 20 years and older. The World Health Organization (WHO) predicted an increase of 190% in the number of subjects living with diabetes in Oman over the next 20 years, rising from 75,000 in 2000 to 217,000 in 2025. There is a lack of awareness of the major risk factors for diabetes mellitus in the Omani population generally. As education is often the most significant predictor of knowledge regarding risk factors, complications and the prevention of diabetes, health promotion in Oman is deemed critical, along with other prevention and control measures. Suitable prevention strategies for reducing the prevalence of diabetes in Oman are discussed. Recommendations are made for reforms in the current health care system; otherwise, diabetes will constitute a major drain on Oman's human and financial resources, threatening the advances in health and longevity achieved over the past decades.
The Middle East and North Africa (“MENA”) region wound care market is estimated to be over $2 billion and is growing at 3% annually. The rate of diabetes increasing coupled with 25% of the population being over the age of 60 makes for a large potential DFU market which can be treated by the dermaPACE® System. SANUWAVE® has already received all the necessary registrations and clearances to use dermaPACE® throughout MENA region.
About Taiba Healthcare
Taiba Healthcare (“Taiba”) is a leading healthcare marketing, distribution & retail pharmacies group in the Sultanate of Oman with regional operations and presence with offices in Taiba ME & Taiba KSA cater for local and GCC markets. Their focus is specialty pharmaceutical hospital products that fall in the above range in addition to products in other key therapeutic segments such as oncology, endocrinology, cardiology, nephrology, Anti-infectives etc. In addition to the pharmaceutical line Taiba also offers product ranges for hospital disposable, surgical and medical devices, as well as lab products.
About MenaCare
MenaCare is a full-service business consulting company focused on the delivery of innovative healthcare solutions. MenaCare specializes in planning and managing healthcare programs and projects throughout the Middle East. Through its alliance with several strategic business partners, MenaCare can assist international medical vendors, major manufacturers, hospitals, physician’s groups and government entities succeed in developing profitable ventures in the MENA region.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB:SNWV) (www.SANUWAVE.com) is a shockwave technology company initially focused on the development and commercialization of patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented PACE® technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE®, is US FDA cleared for the treatment of Diabetic Foot Ulcers. The device is also CE Marked throughout Europe and has device license approval for the treatment of the skin and subcutaneous soft tissue in Canada, South Korea, Australia and New Zealand. SANUWAVE researches, designs, manufactures, markets and services its products worldwide, and believes it has demonstrated that its technology is safe and effective in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S. Class III PMA approved OssaTron® device, as well as stimulating bone and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of its OssaTron, Evotron® and orthoPACE® devices in Europe, Asia and Asia/Pacific. In addition, there are license/partnership opportunities for SANUWAVE’s shockwave technology for non-medical uses, including energy, water, food and industrial markets.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
For additional information about the Company, visit www.sanuwave.com.
Contact:
Millennium Park Capital LLC
Christopher Wynne
312-724-7845
cwynne@mparkcm.com
SANUWAVE Health, Inc.
Kevin Richardson II
CEO and Chairman of the Board
978-922-2447
investorrelations@sanuwave.com
