Israeli FemTech co OCON Healthcare has been awarded $13 million in intrauterine orders. The company has signed distribution agreements with South America's DKT and Consilient Healthcare in the UK and Ireland - where the product will be fully reimbursed by the National Health Services.
These new agreements mean that the Ballerine will be commercially available in 30 countries, with distribution agreements worth over $35 million dollars to date. OCON's sales so far exceed $7 million.
The company, which recently raised $2 million from Docor Fund and Pontifax has developed an innovative, spherical intrauterine platform for contraception and other medical applications, aimed at treating a variety of conditions in women's health without harmful hormones or invasive procedures
OCON Healthcare CEO Keren Leshem said, "We are proud of our partnership with DKT & Consilient Health in these exclusive distribution agreements to enter eleven strategic territories, where the contraceptive market is showing a strong year-on-year growth. Our data shows a global increase in demand for innovative long-term hormone-free reversible solutions, designed to fit the female anatomy, thus improving women's quality of life. With our innovative and premium-class IUB Ballerine, we expect that our collaboration with DKT and Consilient Health’s vast experience, will allow us to effectively promote its entry into South America, England and Ireland, benefiting women all around this region."
Published by Globes, Israel business news - en.globes.co.il - on July 8, 2020
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