FORT WORTH, Texas, April 14, 2011 /PRNewswire/ -- Wound Management Technologies, Inc., (OTCQB l WNDM | WNDM.PK) a leader in advanced wound care solutions, today announced the execution of a multi-Year Exclusive Channel Partner Agreement for CellerateRX® Powder in North America with Juventas, LLC, an affiliate of Biomet Texas, Ltd., headquartered in Fort Worth, Texas to market and sell CellerateRX® Activated Collagen powder products to its customers in North America. The multi-year agreement provides for Juventas to progressively increase yearly sales levels, with 2012's minimum sales of CellerateRX® powder set at $9 million in order for Juventas to retain such exclusive rights.
According to Scott Haire, CEO and Chairman of Wound Management Technologies, "This strategic agreement represents an important financial milestone for the Company." Deborah Jenkins Hutchinson, President added, "We are pleased to work with Juventas, a key distributor of other Biomet products. This agreement is a direct result of our strategic plan to seek out channel partners to distribute our products in addition to our own sales team. The agreement will allow Wound Management to rapidly penetrate a sales channel where our partner has the dominant relationship against the major competitors."
Bryant Gaines, Juventas CEO noted, "We are excited to incorporate CellerateRX® powder within our extensive network, both in operating rooms, hospitals and in the field. Our field testing showed it to be a superior wound care product compared to other products in the market. We are rapidly ramping sales training and promotion and believe that this will be a key product for our group's success."
CellerateRX® Activated Collagen is the Differentiator
CellerateRX®'s Activated Collagen™ (approximately 1/100th the size of native collagen) delivers the essential benefits of collagen to a wound immediately, where other forms of native, intact collagen in commercially available products require time for the body to break down. In people with compromised health or circulation, the difference in wound healing can be significant.
CellerateRX® is FDA cleared for all wound types except for 3rd degree burns and is available in both powder and gel form. In addition to being used in healthcare settings throughout the country, CellerateRX® is easily applied by patients by themselves at home. CellerateRX® is safe, non-toxic, and easy to use. More information can be found on the product's website: www.CellerateRX.com.
For more information on this Agreement, please read the Form 8-K filed on April 14, 2011, available in the Investor Relations section of Wound Management Technology's corporate website.
About Wound Management Technologies, Inc.
Wound Management Technologies, Inc. is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its unique, patented collagen product, CellerateRX®, which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable bone wax line that is in late stages of development, as well as a subsidiary focused on technology for secure healthcare data collaboration and storage. More information can be found on the company's web sites: http://www.wmgtech.com and http://www.celleraterx.com.
About Juventas, LLC
Juventas is led by Bryant Gaines and Jeff Ott, and is an affiliated of Biomet Texas, Ltd., the largest Biomet Distributor. Juventas and its affiliates market products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy, encompassing reconstructive products, including orthopedic joint replacement devices, bone cements and accessories, antilogous therapies; fixation products, including electrical bone growth stimulators, internal and external orthopedic fixation devices, spinal products, including spinal stimulation devices, spinal hardware and orthobiologics; and other products, such as arthroscopy products, softgoods and bracing products. Headquartered in Dallas, Texas, Juventas currently distributes products all over the United States.
Safe Harbor Statement:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Wound Management Technologies Shareholder Information please call (917) 974-9872 or visit http://www.wmgtech.com
SOURCE Wound Management Technologies, Inc.