Entellus Medical said today it expanded its distribution agreement with Fiagon NA to purchase and resell Fiagon’s surgical navigation systems, components and parts in the U.S. and its territories to now include hospitals.
The expansion adds to the previous deal, inked last August, which made Entellus the exclusive distributor of certain Fiagon systems and parts to ear, nose and throat physicians offices, clinics and surgery centers, and will now include hospitals, which were previously excluded.
“The addition of the Fiagon IGS to the Entellus portfolio has enabled more advanced procedures in the office setting through positive clinical outcomes and reduced costs to both the patient and healthcare system. Now with our expanded agreement, we will be able to support those ENTs who would like to utilize this same platform in the hospitals where they practice,” Entellus CEO Robert White said in a press release.
Entellus and Fiagon will also launch the Premium Fiagon Navigation System, which includes advanced ENT and carnio-maxillofactial applications, to hospital customers. The Fiagon navigation system uses an electromagnetic tracking system to locate surgical instruments during surgery in relation to a patient’s CT scan
“Our system has been developed with simplicity and ease of use in mind. The result is a platform that is tailor-made for all settings where a physician may practice. The combination of the Entellus XprESS Pro and XprESS LoPro, along with the Fiagon IGS is a tremendous benefit for physicians and patients,” Fiagon CEO Timo Kruger said in a prepared statement.
The distribution deal is now set to expire at the end of August 2020, according to an SEC filing, but will renew automatically every 2 years unless either company withdraws from the deal, according to an SEC filing.
Last January, Entellus raised roughly $78 million in its initial public offering, floating 5.2 million shares at $17 per share under the symbol ‘ENTL’.
Entellus, founded in 2006, makes a family of minimally invasive balloon device products under the XprESS name that are designed to treat blocked sinuses. Chairman & CEO Brian Farley has been in the corner office since March 2010, according to the filing, and previously ran VNUS Medical Technologies, which Covidien, now part of Medtronic (NYSE:MDT), snatched up in 2009.