Join our daily newsletter At The Bell to receive exclusive market insights
- Imricor Medical Systems (IMR) has entered into a distribution agreement with medical distribution company Regional Health Care Group
- Under the agreement, RHCG will become the exclusive distributor of Imricor’s consumable products in Australia and New Zealand
- This will allow the U.S.-based company’s MRI-guided cardiac ablation products to expand into new overseas markets
- The first regulatory approvals for Imricor’s products are expected by the end of 2021
- Imricor Medical Systems closed 1.39 per cent in the red to trade at 2.13 per share
Imricor Medical Systems (IMR) has entered into a distribution agreement with medical distribution company Regional Health Care Group.
RHCG is Australian-owned and based in Sydney. It has over 40 years of experience in providing medical consumables, contrast media and capital equipment to Australia’s medical industry.
Imricor is a developer of MRI-compatible medical devices, which can be used to conduct MRI-guided cardiac catheter ablation procedures. The company is based in the United States but is seeking to expand its range to new markets.
Under the agreement, RHCG will become the exclusive distributor of Imricor’s consumable products in Australia and New Zealand. RHCG will also become a non-exclusive distributor of Imricor’s capital equipment.
This distribution agreement will allow Imricor’s MRI-guided cardiac ablation products to expand into two new overseas markets in the Southern Hemisphere. The agreement also enables MRI manufacturers like Philips to continue providing Imricor’s capital equipment, as part of an overall iCMR lab package.
In addition to providing distribution services, RHCG will also help to obtain the regulatory approvals necessary for Imricor’s products to enter Australia’s and New Zealand’s markets. The first regulatory approvals for these products are expected to be attained by the end of 2021.
Imricor’s Chair and CEO, Steve Wedan, said that the company is thrilled to join forces with Regional Healthcare Group.
“This is an important part of our geographical expansion plans, and we can’t think of a better partner to work with,” he said.
“Together, we look forward to helping improve the care of Australians and New Zealanders struggling with cardiac arrhythmias,” he added.
Imricor Medical Systems closed 1.39 per cent in the red to trade at 2.13 per share.
