MEDITE Signs Exclusive Marketing and Distribution Agreement With Medline
January 16 2014 - 11:29AM
Marketwired
MEDITE Signs Exclusive Marketing and Distribution Agreement With
Medline
Medline Named Exclusive U.S. and Canada Distributor for MEDITE's
Best-in-Class Histology Systems and Related Consumable Products
ORLANDO, FL--(Marketwired - Jan 16, 2014) - MEDITE Inc., a
leading developer and manufacturer of innovative, high-quality
equipment and supplies for histology, pathology and cytology
laboratories, announced an exclusive marketing and distribution
agreement with Medline Industries, Inc., based in Mundelein,
Illinois. Under the agreement, Medline will have exclusive
rights to market and distribute MEDITE's histology equipment and
consumable product portfolio in the U.S. & Canada.
Medline has demonstrated steady growth with 2013 revenue of more
than $5.7 billion, and is the largest privately held manufacturer
and distributor of healthcare supplies in the United
States. The company markets a wide variety of products serving
the entire continuum of care.
"During 2013, a key focus of our management team was to raise
the awareness of our product portfolio in the U.S. and increase the
amount of revenue we generated from the American market. These
efforts have been well-timed as thousands of labs in the U.S. will
need to utilize leading products to meet the burgeoning demand
resulting from the passage of the Affordable Care Act. By
partnering with Medline we position ourselves for even greater
growth in 2014 and beyond while at the same time reducing our
operating costs," commented Michaela Ott, co-president of MEDITE
Group.
"We decided to partner with Medline after a comprehensive review
of our competitive position in the U.S. and Canadian markets,"
added Ott. "We chose Medline because of its strategic focus on
the $700 million histology market represented by an aggressive
expansion into the segment beginning this year. This market is
growing greater than 10 percent annually, so Medline recognized the
dynamic growth opportunities and is devoting a significant amount
of effort to building a leading histology system and consumables
resource to hospitals and other healthcare providers. Medline
elected to partner with us because of the breadth and quality of
our product portfolio and our combined ability to provide cost
effective solutions to the healthcare customer."
About MEDITE On January 11, 2014, Medite signed a definitive
purchase agreement to be acquired by Chicago-based CytoCore, Inc.
(OTCBB: CYOE), a late development stage bio molecular diagnostics
company engaged in the design, development, and commercialization
of cost-effective sample collection, clinical laboratory assay and
instrument systems for the early detection and classification of
cancer and for the assessment of the risk for cancer
progression. Closing of the transaction is subject to standard
and customary closing conditions and deliveries and is currently
expected to close by March 15, 2014. MEDITE Enterprise Inc., a
holding company which is based in Orlando, FL, wholly-owns Medite
GmbH a Germany-based Company with its subsidiaries CytoGlobe GmbH
(Liquid-Based-Cytology Products, Germany), Medite GmbH
(Distributor, Austria), Medite Inc. (Distributor, Americas). Since
1978, MEDITE® Group has specialized on the development, manufacture
and distribution of medical laboratory automation equipment and
supplies for pathology, histology and cytology. For these fields,
the Company offers a complete range of devices and
consumables. MEDITE Group currently sells into 70 countries
and is the market leader in Germany. Through CytoGlobe, a wholly
owned subsidiary, MEDITE offers a full range of products for
Cytology labs, specifically liquid based cytology cancer screening
supplies and instruments. Additional information on MEDITE's
products and services can be found at www.medite-group.com.
About Medline Industries, Inc. As the nation's largest privately
held manufacturer and distributor of health care products, Medline
manufactures and distributes more than 350,000 products to
hospitals, extended care facilities, surgery centers, physician
offices, home care agencies and providers, and retailers. Named one
of the country's "Best and Brightest Companies to Work For,"
Medline is headquartered in Mundelein, Ill. and has more than 1,100
dedicated sales representatives to support its broad product line
and cost management services. For more information on Medline, go
to www.medline.com or
http://mkt.medline.com/clinical-blog/category/channels/social-channels/
to connect with Medline on a variety of social media channels.
Contact Information: EVC Group Investor Contact: Doug Sherk
415-652-9100 Michael Polyviou 212-850-6020 Media Contact: Janine
McCargo 646-688-0425
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