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Prepares for the CE Mark and International Launch of LockeT in Third Quarter 2023
FORT MILL, SC / ACCESSWIRE / July 3, 2023 / Ra Medical Systems, Inc. (NYSE:RMED) has announced that it has undertaken a strong effort to expand its distribution outside of the US. Last week RMED announced it has filed for the CE Mark on LockeT, its new device to assist in closure of percutaneous puncture sites. The effort to expand international distribution reflects the anticipated timing of the receipt of the LockeT CE Mark, which is expected during this third quarter. Most recently, the company entered into a distribution agreement with Medilynq for distribution of RMED's products in certain countries in the Middle East, including Saudi Arabia, Jordon, Oman, UAE, Qatar, and Kuwait. In conjunction with the kickoff of this area, Medilynq placed its first order for a VIVO system. Additionally, the company is working with Bioline, a new distributor in Spain, and recently attended a symposium/trade show in Spain exhibiting the company's products.
Following the Heart Rhythm Society symposium and trade show in May, on top of the EHRA meeting in April, RMED identified several international distributors who had an interest in its products. RMED also engaged the expertise of a consulting marketing company, to assist in identifying and managing distributors in areas of the world where it is currently not exposed such as parts of Asia, South America, Africa, and other European countries. To date, RMED is now in the process of working toward agreements in Mexico, Peru, Chile, and Brazil. In addition, discussions are advancing in Australia, Hong Kong, Thailand, and Malaysia.
Patricia Kennedy, Chief Commercial Officer of RMED's electrophysiology division, commented, "We are excited about all the components coming together for distribution in the various markets around the globe. Often it takes many years to put together the international distribution, but with the experienced team with which we are working, we are pushing forward quite rapidly. We are looking forward to the continued introduction of VIVO to new markets and excited about the opportunity with LockeT, in all the different market areas of electrophysiology, vascular surgery, and structural heart. We just introduced the Locket during the second quarter in the US, and already have several hospitals requesting to trial the product."
Posted In: RMED
