VVT Med Expands European Commercial Footprint Through Exclusive Distribution Agreement in Greece

Executive Summary

• VVT Med Inc. signed an exclusive five-year distribution agreement with General Chemical Products S.A. (GCP) to commercialize its ScleroSafe® platform in Greece.
• The agreement carries minimum purchase commitments totaling approximately €712,800 (CAD$1.14 million) over the initial term.
• The partnership establishes a direct commercial presence in Greece and expands VVT Med's broader European distribution network.

Key Details

• Agreement Structure: Exclusive distribution rights for the ScleroSafe® platform in Greece for an initial five-year term.
• Counterparty: General Chemical Products S.A. (GCP), an established Greek medical technology company with over 40 years of market presence, providing sales, logistics, technical support, and clinical services to Greek healthcare providers.
• Financial Commitments: Minimum purchase commitments aggregate to approximately €712,800 (approx. CAD$1.14 million based on current exchange rates) over the initial five-year term, exclusive of any purchases beyond the contractual minimums.
• Termination Provisions: Agreement may be terminated prior to expiry for customary circumstances, including uncured material breach, insolvency or bankruptcy of either party, or failure by the distributor to satisfy minimum sales requirements.
• Product Focus: ScleroSafe®, a minimally invasive, non-thermal, non-tumescent solution for venous disease that is FDA-cleared and CE-marked.
• Strategic Impact: Expands VVT Med's European commercial footprint and supports the company's strategy of increasing international access to its technology portfolio.

Notable Quotes

• Erez Tetro, Chief Executive Officer: "We are pleased to enter the Greek market through our partnership with GCP. GCP's long-standing reputation and commercial infrastructure make them an excellent partner for the introduction of ScleroSafe® in Greece. This agreement expands our European distribution network and supports our strategy of increasing international access to ScleroSafe®. We look forward to working with GCP to introduce the technology to physicians and patients throughout Greece."