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- Uscom (UCM) has been granted Russian regulatory and distribution approval for its USCOM 1A cardiac monitor after a three-year wait
- The process was initially set to take 12 to 18 months but ended up being extended due to COVID-induced delays
- The monitor is used to measure cardiovascular function and detect irregularities
- Uscom Executive Chairman Professor Rob Phillips says obtaining Russia as an approved export market marks a significant addition to its network
- Uscom shares closed the day in the grey to trade at 16.5 cents
Uscom (UCM) has been granted Russian regulatory and distribution approval for its USCOM 1A cardiac monitor after a three-year wait.
Attaining Russian Certification of Registration was expected to take 12 to 18 months, but ended up taking roughly three years for Uscom due to COVID-induced delays.
Medical devices for diagnostic or therapeutic applications are required to be registered at the central department of the Federal Service on surveillance in Healthcare and Social Development in Moscow.
Uscom said it had worked closely with its Russian distributor, Wondermed, to successfully manage the protracted regulatory process.
The USCOM 1A is the company’s non-invasive haemodynamic monitor that measures cardiovascular function, detects irregularities and can be used to guide treatment.
Uscom Executive Chairman Professor Rob Phillips said obtaining Russia as an approved export market marked a significant addition to its network.
“Uscom’s growth continues to be strong despite the pandemic and our strategy for incremental growth is simply more products, more distributors and more revenue, and we are delivering on this plan,” he said.
Uscom shares closed the day in the grey to trade at 16.5 cents.
