E-QURE Corp. announced it signed a distribution agreement with Tech – Médica Equipos Médicos S.A.S. (TeckMedica) in Colombia for the Company’s patented Bio-electrical Signal Therapy device (“BST Device”), a breakthrough novel electrotherapy for the non-invasive treatment of hard-to-heal chronic wounds.
This distribution agreement in Colombia is part of E-QURE’s worldwide launch of its BST Device, serving the $25 billion global wound care market. E-QURE previously singed distribution agreements in Argentina and Israel, where marketing clearance is expected soon.
E-QURE granted TeckMedica the exclusive rights to distribute its BST device and accompanying disposable electrodes for the treatment of chronic wounds. The 5-year agreement includes increasing minimum annual sales quotas. TeckMedica will make an initial advance payment to E-QURE which will be applied against the first year’s quota, in addition to placing an initial agreed minimum order upon receiving local marketing approval in Colombia.
E-QURE will provide TeckMedica with supplies of the BST Device and disposable electrodes for treatment of patients in hospitals, long-term care facilities, medical centers and out-patient clinics. TeckMedica is responsible for securing any product certification, permit, license or approval that may be required for marketing, sales, sublicensing and treatment in Colombia.
“We intend to build revenues through sales of the BST in Colombia, Argentina, and Israel where we now have distribution agreements, as well as a few other countries we are now targeting, while we pursue regulatory approval in the United States, the largest market in the world for wound care,” sated Ron Weissberg, Chairman of E-QURE Corp.
