Viromed Medical AG, a medical technology company specializing in cold plasma technology, has announced the signing of distribution partnerships for its ViroCAP® product in six new markets: Spain, Portugal, Greece, the Balkan region, Romania, and Saudi Arabia. These agreements, each with a separate company, are set to significantly broaden the company's international footprint and are expected to generate additional sales of at least 3,000 devices per year, according to the company's projections.
ViroCAP® is a mobile medical device designed for the treatment of skin conditions using cold atmospheric plasma. It is intended for use by hospitals, private practice physicians, and surgically active medical specialists. The device has been a key product for Viromed as it seeks to expand its presence in the medical technology sector.
Uwe Perbandt, Chief Executive Officer of Viromed Medical AG, emphasized the strategic importance of these new partnerships: “With these new distribution partners, we are opening up several attractive markets in Southern and South-Eastern Europe as well as in the Middle East. The strong interest shown by our distribution partners underlines the high demand for our cold plasma technology. The new distribution partnerships are another important step in the implementation of our dynamic growth phase. Partnerships for additional countries are in preparation and are expected to be signed within the next four to six weeks.”
These agreements build on Viromed's existing international distribution network, which already includes an exclusive distribution agreement with the Korean company UMECO covering ten Asian countries, and a partnership with TriPart TITAN GmbH & Co. KG for the Turkish market. The company's expansion strategy is focused on leveraging its innovative cold plasma technology to address medical needs across diverse geographies.
The news comes as Viromed, listed on the stock exchange since October 2022, continues to execute its growth plans. The company, through its wholly owned subsidiary Viromed Medical GmbH, is dedicated to the development, manufacture, and distribution of medical products, with a particular emphasis on cold plasma applications. With a broad customer base in the DACH region and beyond, Viromed aims to further advance the use of cold plasma technology in medicine and realize significant growth potential in the coming years.
The distribution partnerships are expected to contribute to Viromed's revenue streams and market penetration, as the company capitalizes on the increasing adoption of advanced medical technologies. The agreements also underscore the growing recognition of cold plasma therapy as an effective treatment option for various dermatological conditions.
