- Salona (SGMD) has executed a binding agreement to acquire a portfolio of medical device intellectual property
- The medical device intellectual property has already been approved for distribution in the U.S. by the U.S. Food & Drug Administration
- The company expects to market the products under the Mio-Guard brand it acquired in March 2022
- SGMD’s management plans to use its industry contacts to acquire more medical device intellectual property quickly as detailed in its investor presentation
- Salona Global Medical Device Corporation is an acquisition-oriented medical device company serving the global injury and surgery recovery market
- Salona Global Medical Device Corporation (SGMD) opened trading at $0.78 per share
Salona Global Medical Device Corporation (SGMD) has agreed to acquire a portfolio of medical device intellectual property.
The medical device intellectual property has already been approved for distribution in the U.S. by the U.S. Food & Drug Administration (FDA).
The product IP portfolio consists of (1) transcutaneous electrical nerve stimulation (TENS) technology, (2) neuromuscular electrical stimulation technology (NEMS), and (3) drug delivery electrode technology, three key technologies used in medical device recovery science.
As part of the company’s corporate strategy to acquire products to increase revenues in its current distribution channels, the company expects to market the products under the Mio-Guard brand it acquired in March 2022.
The company has agreed to pay US$185,000 in consideration for the Product IP and expects to begin generating revenues using the Product IP starting next quarter, which begins on June 1, 2022, with expected gross margins in excess of 40 per cent.
SGMD’s management plans to use its industry contacts to acquire more medical device intellectual property quickly as detailed in its investor presentation.
The plan includes both acquiring and in-licensing intellectual property, as well as continuing to acquire medical device and distribution companies.
“I am pleased we executed on the first IP acquisition for Salona Global,” stated Les Cross, Chairman of SGMD.
Salona Global Medical Device Corporation is an acquisition-oriented medical device company serving the global injury and surgery recovery market, known as recovery science.
Salona Global Medical Device Corporation (SGMD) opened trading at $0.78 per share.