SANUWAVE Health announced today they have signed a binding definitive joint venture agreement with MUNDIMED in Brazil.
SANUWAVE Health (OTCQB:SNWV) announced today they have signed a binding definitive joint venture agreement with MUNDIMED in Brazil.
As quoted in the press release:
The companies will split profits in the wound care arena while utilizing the dermaPACE technology. The expected net present value (NPV) conservatively exceeds $25 million. SANUWAVE will receive undisclosed cash payments beginning September 30, 2017 and will continue through early 2019. The JV is expected to receive INMETRO certification and ANVISA registration in 2018 and begin showing revenue immediately upon approval. Initial devices will be shipped in 2017 for use by KOL’s at the University of ABC.
SANUWAVE worked with Universus Global Advisors to select to MUNDIMED. Universus has extensive geographic and industry knowledge which allowed incredible access in Brazil.