Through the deal, AB medica will gain the rights to distribute the company’s CGuard EPS embolic prevention system in the region, the Israel-based company said.
“AB medica GmbH is probably the leading distributor in the peripheral and vascular medical devices sector in Germany and this agreement is consistent with our new strategy of utlizing a direct distribution model focusing on regional distributors that have access to all of the key clinical specialties. Germany is the largest CAS market in Europe and, given the strong growth we saw in 2016 in the markets where this model has been in place and managed by InspireMD, we are very optimistic about the market potential for our product in Germany,” Inspire MD CEO James Barry said in a press release.
“We are excited to partner with InspireMD to distribute CGuard in Germany. We are committed to building on the work done by InspireMD’s prior distributor in Germany and adding at least 50 new hospitals to our client list and thus more than doubling CGuard’s market presence and market share over the next twelve months. Our ability to include as yet untapped markets such as the Vascular Surgery segment in our sales efforts, makes us confident that we can add a new dynamic to the markerting of CGuard, which we believe will rapidly become the standard of care through its potential safety benefits,” AB medica CEO & founder Dr Georg Landsberg said in a prepared statement.
“AB medica GmbH is an ideal partner as it has long standing relations with all the major Group Purchasing Organizations in Germany covering all the relevant clinical specialists that use carotid stents. ab medica also has established relationships with Germany’s top KOLs, including interventional neuroradiologists, vascular surgeons, interventional cardiologists and interventional radiologists. ab medica will immediateliy assume all the existing accounts supported by our former distributor, with plans to at least double the number of centers utilizing our device in Germany over the next year,” InspireMD CCO Agustin Gago said in prepared remarks.
In March, InspireMD priced a new round of funding, looking to raise $7.5 million to expand sales and marketing of its CGuard and MGuard Prime embolic prevention systems.