Misonix extends reach in South America

January 12, 2010 by MassDevice staff

Misonix Inc. (NASQ:MSON) struck a deal to sell its SonaStar and BoneScalpel surgical tools in Chile.

Officials with Farmingdale, N.Y.-based Misonix said the new distribution agreement with Neuromed Chile SA coincides with a renewed focus by the ultrasound device manufacturer on the Latin American market.

"We are particularly pleased that they will be distributing two of our key products through their well established surgical products organization," Misonix Chief Executive Michael McManus said in prepared remarks.

Roughly half of Misonix's $39.8 million in sales during fiscal 2009 came from foreign markets, largely through the company's U.K. Labcaire subsidiary. The 50 percent mark for exports last year represented a 4-point jump from 2008 levels, although on a dollar basis, Misonix saw its foreign sales slip by $1.1 million to $19.8 million during 2009.

The deal with Santiago-based Neuromed Chile provides Misonix with seven distibutors in Latin America and 29 overall from outside of the United States. Financial terms of the pact were not disclosed.

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