SUWANEE, GA, June 26, 2018 (GLOBE NEWSWIRE) -- SANUWAVE Health, Inc. (OTCQB: SNWV) is pleased to announce a signed Joint Venture (JV) agreement with FKS, a JohnFK Medical company in Southeast Asia. The first of two exclusivity fees have been received with a second scheduled for the third quarter 2018. The Agreement will cover Taiwan, Singapore, Malaysia, Brunei, Cambodia, Myanmar, Laos, Thailand, Philippines, Indonesia and Vietnam. The JV is expected to place at least 40 devices during 2018 and over 200 in the first three years, with the first shipments going out in the third quarter of 2018. The agreement is similar to other international JV’s entered into by SANUWAVE in that, the profits are shared equally among the partners, a management committee exists to ensure success of the JV, and exclusivity fees are involved to ensure mutual success. The agreement also stipulates that one of SANUWAVE Health’s long-time science advisors, Dr. Wang, will be a consultant to the JV.
Kevin Richardson II, CEO and Chairman, stated, “We have spent the past 18 months exploring Southeast Asia to develop the proper partnership in the region. JohnFK Medical is a premier medical company in the region with over $400 million in revenue and aims to be publicly listed on two exchanges in both the US and Taiwan by 2020. This joint venture brings tremendous synergy effects, as FKS Life and Medical Health Care Inc. focuses on wound care treatments for Diabetic Foot Ulcers (DFUs) in the Asian region. The joining of SANUWAVE and FKS, with both the advanced medical technology and extensive medical channels owned, will help bring a better quality of life for patients collectively.”
Fei-Kai Syu, FKS Life and Medical Health Care Inc. (parent company of JohnFK) CEO and Chairman, a well-known, talented executive has high aspirations for the JV and states, “JohnFK has already begun delivering near-term plans and a roll out strategy. Additionally, JohnFK will be presenting at the ASEAN Wound Summit in Kuching Sarawak in Malaysia from July 20th to 21st. FKS is the right partner for SANUWAVE’s success in the region. We are looking forward to the future together.”
The regions covered in the agreement have an aggregate population of 679 million people and an average diabetes propensity of 8.5%. The growth rates of diabetes in the region is growing faster than the US rate. A device such as dermaPACE® can assist in treating complications from this devastating disease.
FKS life and Medical Health Care was founded in 2015 to promote health and the value of life for businesses, dedicated to the development of the medical technology industry. Headquartered in San Diego, California, FKS currently has several branches in the United States, Taiwan, China. Its main competitive advantage of quality and innovation combined with an excellent international R & D team and skilled manufacturing technology has allowed for number of patents in US FDA certification. Products include surgical equipment, ENT, interventional pain management, intubation, nasogastric tube, biotechnology and other types of medical equipment. For more about FKS, please access http://www.fkslifehealthmedicalcare.com/.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB:SNWV) (www.sanuwave.com) is a shock wave technology company initially focused on the development and commercialization of patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented PACE® technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE®, is US FDA cleared for the treatment of Diabetic Foot Ulcers. The device is also CE Marked throughout Europe and has device license approval for the treatment of the skin and subcutaneous soft tissue in Canada, South Korea, Australia and New Zealand. SANUWAVE researches, designs, manufactures, markets and services its products worldwide, and believes it has demonstrated that its technology is safe and effective in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S. Class III PMA approved OssaTron® device, as well as stimulating bone and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of its OssaTron®, Evotron® and orthoPACE® devices in Europe, Asia and Asia/Pacific. In addition, there are license/partnership opportunities for SANUWAVE’s shock wave technology for non-medical uses, including energy, water, food and industrial markets.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
For additional information about the Company, visit www.SANUWAVE.com.