NOVEMBER 20, 2008 -- MedX Health Corp. (Mississauga, ON, Canada), developer and manufacturer of low level laser and light medical devices for tissue repair and pain relief (including the Oralase photobiomodulation device for dentistry), has entered into a co-marketing, development and distribution agreement with Naimco/Rich-Mar, provider of advanced ultrasound, electrotherapy and light therapy modalities.
This agreement establishes MedX as the exclusive provider of low level laser and light technology to Naimco/Rich-Mar and will allow MedX Health to sell components to Naimco/Rich-Mar that will enhance its product line. MedX will have master distributor rights to market MedX/Rich-Mar products in all markets & countries, except those U.S. and Canadian customers primarily engaged in Rehabilitation, Physiotherapy and or Chiropractic medicine and therapy. In addition, MedX will have exclusive rights in Dental, Veterinarian, Aesthetics/Plastic Surgery & Dermatology to market MedX/Rich-Mar products. MedX expects to see increased revenue from this partnership as early as Q4 of 2008.
Under this comprehensive agreement, the two companies will cooperate in the exchange of products and components to create an improved line of energy-derived medical devices. MedX will also develop and produce for Rich-Mar an advanced system that will help healthcare providers identify the optimum treatment target for best results.
"This strategic partnership is a winning formula. It allows each company to benefit from the strengths of the other in the form of scientific and design expertise, improved products and expanded distribution channels that will increase revenues and benefit patients globally," states Steve Guillen, president and chief executive officer of MedX. "This is a very exciting time for MedX as we continue to identify opportunities to expand our market reach and our revenues without the associated development, acquisition, technology transfer or licensing costs. And, through the integration of our low level laser technology into Naimco/Rich-Mar devices that contain ultrasound and/or electrical stimulation, we gain a larger user base and reinforced reimbursement codes."
"We are very excited about the enormous sales potential this new relationship will present to each company," states Bob Thompson, chief executive officer of Naimco/Rich-Mar. "Naimco/Rich-Mar has one of the largest distribution channels in the US rehabilitation market and a well-respected reputation in the ultrasound and electrical stimulation product area. In addition to the enhanced and comprehensive product line we can now offer patients for accelerated tissue repair and pain relief, partnering with MedX provides Naimco/Rich-Mar with the scientific know-how to design the next generation of energy products such as the highly advanced AIM system. In addition, Naimco/Rich-Mar expects to realize significant gains in the U.S. long-term care, home health, and nursing home markets through our co-marketing agreement with MedX."
Both companies expect to expand upon this initial agreement in 2009 to include future investment of both cash and products in this joint venture.
MedX is a leading North American developer and manufacturer of low level laser and light medical devices, including dental, rehabilitation and wound care products. MedX is focused on developing and delivering a broad cross-section of technologies and products involved in healing using light therapy.
Rich-Mar has been a leader in ultrasound, electrotherapy, and light therapy modalities for over 30 years. Rich-Mar was acquired by Naimco Medical in 2007 to form the new company, Naimco/Rich-Mar.
For more than 35 years, Low-Level Laser Therapy (LLLT)has been used in Europe, Australia, Asia and Russia for the treatment of pain and tissue repair. LLLT was approved in Canada in 1999 and in the United States in 2002. LLLT uses a specific type of light to penetrate the skin's surface and underlying tissues to stimulate the body's natural repair processes. The result is faster healing and reduced pain, swelling and inflammation.