Wound Management Technologies, Inc. (OTCQB: WNDM) announced it has entered into a distribution agreement with Academy Medical, LLC, a veteran-owned distributor of medical products, to sell its CellerateRX line of products to the VA facilities across the country. The Veterans Administration system represents over 168 Hospitals, 1700 "sites of care" facilities and 8.3 million veterans. The agreement has a term of five years and minimum purchase amounts from Wound Management of $600,000 and 1.5 million the first two years growing to $3 million by year five of the contract.
Robert H Lutz, Jr., Chairman and CEO, commented, "We at Wound Management Technologies are very excited about our relationship with Academy Medical. Academy brings a wealth of professionalism and expertise in the wound care area which is of great importance to the VA. The agreement will allow our CellerateRX products to be carried under Academy Medical's FSS number and be represented by over 50 of their sales representatives nationwide. We look forward to a long and successful relationship with Academy Medical."
Ed Desser, Partner of Academy Medical, said, "We are pleased to partner with Wound Management Technologies and bring the CellerateRX line to VA facilities nationwide. Adding CellerateRX to Academy's wound care portfolio is an exciting opportunity for the company and consistent with our mission of facilitating first class health care to our nation's veterans."
Headquartered in West Palm Beach, Florida, Academy Medical, LLC is a certified veteran-owned Small Business specializing in the distribution of medical implants and wound care products. Academy Medical serves Department of Veterans Affairs and Department of Defense hospitals and is the largest supplier of biologics on the Federal Supply Schedule. More information can be found at www.academymedical.net.