URGO Medical, a global leader in wound care, announces the signature of an asset purchase agreement with REALM Therapeutics, owner of Vashe technology.
| PARIS and FORT WORTH, New Jersey, April 9, 2019 /PRNewswire/ -- URGO Medical, a global leader in wound care, announces the signature of an asset purchase agreement with REALM Therapeutics, owner of Vashe technology. This acquisition reinforces URGO Medical’s innovative product portfolio and its footprint in North America.
URGO Medical acquires a worldwide proprietary innovative technology to strengthen position on North American market URGO Medical’s activities are dedicated to products that offer relief to patients who suffer from severe wounds, thanks to its portfolio optimized solutions and protocols for healthcare professionals. Following the merger with SteadMed Medical LLC in September 2018 and the creation of URGO Medical North America, this new acquisition confirms URGO Medical ambitions to become a global leading player in the world’s largest advanced wound care market of North America. “Following the successful integration of Steadmed team and the creation of URGO Medical North America, this acquisition enables us to control the sourcing of Vashe and creates new growth opportunities,” said Laurent Faugère, URGO Medical CEO. “This acquisition shows the commitment of URGO board to invest in URGO Medical North America to accelerate our growth,” added Michael Steadman, URGO Medical North America CEO Realm Therapeutics Inc is a US company based in Malvern (near Philadelphia, Pennsylvania) founded in 2006. The company conducts research activities to find new hypochlorous acid based treatments for allergic conjunctivitis and for atopic dermatitis, and commercializes the use of its patents. The perimeter of this acquisition corresponds mainly to the Intellectual Property (“IP”) – patents and know-how – that the Company has successfully developed and valued over the years. More specifically, Realm is behind the formulation of Vashe® Wound Solution which is commercialized by URGO Medical North America (formerly Steadmed Medical) since 2013. By acquiring a worldwide proprietary innovative technology, URGO Medical North America secures and strengthens its innovative woundcare portfolio. A recognized solution to clean patient wounds Vashe® Wound Solution is a hypochlorous acid (HOCI) wound cleansing solution which represents a non-antibiotic, non-irritating, non-cytotoxic alternative wound treatment. Sold under prescription this solution is used for cleansing, irrigating, moistening, debridement and removal of foreign material (including microorganism) on acute and chronic dermal lesions (such as stage I-IV pressure ulcers, venous insufficiency ulcers, diabetic ulcers, post-surgical wounds, first and second-degree burns, abrasions and minor irritations of the skin). Available in the US, Canada, Mexico, Middle East and Chile, Vashe®achieved a 40% growth in 2018. About URGO Medical North America URGO Medical North America (formerly Steadmed Medical) is a subsidiary of the French family-owned company URGO Group. As the Healing Company we provide medical devices and products to hospitals, nursing homes and home health agencies - and the patients they treat - with a focus on acute, chronic, and surgical wounds, and additionally skin moisturization. Our extensive portfolio of products establishes proven protocols for the care and management of wounds, skin, and skin breakdown. By listening to clinicians’ concerns, URGO Medical North America has been able to provide the highest-quality and most innovative products available, while keeping costs competitive.
SOURCE URGO Medical |
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