Nosa Plugs AB (publ) ("NOSA") today announces that the Company has entered into an exclusive distribution agreement with MetroMed regarding the sale of NOSA's full product portfolio in the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. In connection with the signing of the agreement, MetroMed will place an initial order for NOSA Odor Control with a value of approximately SEK 330 thousand.
MetroMed is an established distributor of pharmaceuticals, medical devices and healthcare products in the Middle East. The company was founded in 1990, is headquartered in Dubai and is part of Mazrui International, a privately owned group with operations in, among other areas, healthcare, energy, industry and construction.
Under the agreement, MetroMed is granted exclusivity for NOSA's products in the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. MetroMed will sell NOSA's products through its established sales channels, including pharmacies, hospitals, grocery retail and veterinary clinics.
In connection with the signing of the agreement, MetroMed will place an initial order for NOSA Odor Control with an order value of approximately SEK 350 thousand. MetroMed thereafter intends to launch the remaining products in NOSA's portfolio, including Nozoil, NOSA Smell Training and NOSA Microbial Control, as soon as the required regulatory approvals have been obtained in each respective market. The planned order value for these products following registration amounts to close to SEK 1 million.
The combined value of the initial order and the planned subsequent orders therefore amounts to approximately SEK 1.3 million.
"The MENA region is a market where we see significant long-term potential and where our strategy is to grow together with strong local distributors. MetroMed has the reach, infrastructure and market presence we look for in a partner. The fact that the agreement also covers our entire product portfolio across five markets makes this an important step in our international expansion," says Adrian Liljefors, CEO, Nosa Plugs AB.
MetroMed distributes products through a network of more than 3,000 points of sale and represents a large number of international brands. The company has an established sales and distribution organisation serving both the healthcare and pharmacy markets, as well as its own warehousing and logistics capabilities.
"We are delighted to partner with NOSA and bring its innovative and high-quality product portfolio to the market. This partnership aligns perfectly with our commitment to providing trusted healthcare solutions and strengthens our ability to deliver innovative products to healthcare professionals and consumers through our well-established distribution network." says Ahmed Saleh, Group Managing Director, Metromed.
For further information:
Adrian Liljefors, CEO Nosa Plugs AB (publ)
E-mail: ir@nosaplugs.com
About NOSA:
NOSA Plugs AB (publ) is a Swedish medical technology company that has been listed on Nasdaq First North Growth Market since 16 March 2023, under the ticker "NOSA". FNCA Sweden AB acts as the company's Certified Adviser.
The publication is a translation of the original Swedish text. In the event of inconsistency or discrepancy between the Swedish version and this publication, the Swedish language version shall prevail.
NOSA's press releases are available at:
https://nosaplugs.com/sv/investerare/
