Coronado Industries, Inc. announced today that it has executed an exclusive sales and distribution agreement for the Polish market with Meditherm AG of Triesen, Lichtenstein.
May 12, 2005 (Press Release) --
Fountain Hills, AZ, May 12, 2005 – Coronado Industries, Inc. (OTC/BB: “CDIK”), a manufacturer of unique, proprietary pneumatic devices for the treatment of glaucoma, announced today that it has executed an exclusive sales and distribution agreement for the Polish market with Meditherm AG of Triesen, Lichtenstein. Meditherm’s Polish partner, Pharma Supply Sp. of Warsaw, Poland will be responsible for the sales and distribution of the product within the Polish market
In making the announcement today Coronado Industries Chairman, Richard Smith, said the successful completion of the negotiations, spearheaded by Dr. Francesco Aspes, Head of Europe for Coronado Industries marks yet another milestone for the company and its technology. “Poland is Europe’s sixth largest country, based on population, and has an estimated 285,000 people currently suffering from glaucoma. It represents a big market for us,” he said.
Like most European countries, Poland has a centralized health system whereby the government pays for healthcare. “A key component for success in this market will be to achieve a broad reimbursement for the procedure from the appropriate government health ministry. By partnering with Meditherm and Pharma Supply, we now have access to experts who can achieve this positive outcome,” Mr. Smith said.
In reviewing the agreement, Dr. Aspes noted that one of the essential components towards achieving government reimbursement and broad adoption of the procedure by the Polish general ophthalmologist is the active involvement of opinion leaders in Poland. The agreement therefore calls for Meditherm to immediately initiate a short-term trial, which will involve these important key opinion leaders. “This trial will allow these important market influencers to quickly gain hands on experience with the equipment and support the efforts of Meditherm towards achieving reimbursement and introducing the product to the Polish market. The data from the trial, in combination with our existing clinical data package, will be utilized by Meditherm to achieve reimbursement for the procedure from the Polish Health Ministry,” he said.
Chairman Smith said that this was just the beginning of the next round of agreements the company expected to announce in the coming months. “Dr. Aspes has been very busy, negotiating with several parties to achieve effective coverage of several territories across Europe. We are hopeful that we will be announcing the conclusion of additional agreements in the coming weeks.”
Coronado Industries through its wholly owned subsidiary, Ophthalmic International, is focused on the development and commercialization of its patented procedure as a cost-effective alternative for the treatment of the most common types of glaucoma which are open angle and pigmentary as well as for the treatment of ocular hypertension.
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Contact: Bob Smith, Investor Relations Victor Webb/Madlene Olson, Media
Coronado Industries Marston Webb International
1 (480) 837-6810 1 (212) 684-6601
Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
In making the announcement today Coronado Industries Chairman, Richard Smith, said the successful completion of the negotiations, spearheaded by Dr. Francesco Aspes, Head of Europe for Coronado Industries marks yet another milestone for the company and its technology. “Poland is Europe’s sixth largest country, based on population, and has an estimated 285,000 people currently suffering from glaucoma. It represents a big market for us,” he said.
Like most European countries, Poland has a centralized health system whereby the government pays for healthcare. “A key component for success in this market will be to achieve a broad reimbursement for the procedure from the appropriate government health ministry. By partnering with Meditherm and Pharma Supply, we now have access to experts who can achieve this positive outcome,” Mr. Smith said.
In reviewing the agreement, Dr. Aspes noted that one of the essential components towards achieving government reimbursement and broad adoption of the procedure by the Polish general ophthalmologist is the active involvement of opinion leaders in Poland. The agreement therefore calls for Meditherm to immediately initiate a short-term trial, which will involve these important key opinion leaders. “This trial will allow these important market influencers to quickly gain hands on experience with the equipment and support the efforts of Meditherm towards achieving reimbursement and introducing the product to the Polish market. The data from the trial, in combination with our existing clinical data package, will be utilized by Meditherm to achieve reimbursement for the procedure from the Polish Health Ministry,” he said.
Chairman Smith said that this was just the beginning of the next round of agreements the company expected to announce in the coming months. “Dr. Aspes has been very busy, negotiating with several parties to achieve effective coverage of several territories across Europe. We are hopeful that we will be announcing the conclusion of additional agreements in the coming weeks.”
Coronado Industries through its wholly owned subsidiary, Ophthalmic International, is focused on the development and commercialization of its patented procedure as a cost-effective alternative for the treatment of the most common types of glaucoma which are open angle and pigmentary as well as for the treatment of ocular hypertension.
###
Contact: Bob Smith, Investor Relations Victor Webb/Madlene Olson, Media
Coronado Industries Marston Webb International
1 (480) 837-6810 1 (212) 684-6601
Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
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