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CytoSorbents, TekMed Ink Australia, New Zealand Distribution Deal.

M2 PHARMA-July 23, 2015-CytoSorbents, TekMed Ink Australia, New Zealand Distribution Deal


US-based immunotherapy company CytoSorbents Corp. (NASDAQ: CTSO) has inked an exclusive distribution agreement with TekMed Pty Ltd, a provider of dialysis equipment, vascular access devices, and disposables to the acute and chronic healthcare markets in Australia and New Zealand, the company said on Thursday.

This multi-year agreement includes all critical care and cardiac surgery applications in Australia and New Zealand, and is subject to annual minimum purchases of CytoSorb to maintain exclusivity.

According to the Australian Institute of Health and Welfare, in 2011-12, there were 1,345 hospitals in Australia, of which 736 were public acute care hospitals and 285 were private hospitals.

New Zealand has approximately 220 hospitals. Healthcare is insured by a combination of both government funded Medicare as well as overlapping private insurance.

CytoSorbents' expansion into Australia and New Zealand makes CytoSorb available, with registration, to patients in need in 31 countries worldwide.

TekMed provides medical products to the Australian and New Zealand health care markets. Products include blood purification for the ICU, vascular access for Renal and Interventional Radiology, and therapy chairs for Renal and Oncology.

CytoSorbents is a critical care focused immunotherapy company using blood purification to control severe inflammation, with the goal of preventing or treating multiple organ failure in life-threatening illnesses.

CytoSorb, the company's flagship product, is approved in the European Union with distribution in 31 countries around the world, as an extracorporeal cytokine filter, designed to reduce the "cytokine storm" that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis.

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Publication:M2 Pharma
Date:Jul 23, 2015
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