Mute Global Distribution Milestone Update
Melbourne, Mar 8, 2017 AEST (ABN Newswire) - Respiratory technology company Rhinomed (
ASX:RNO) is pleased to provide an update on the expansion of its global distribution program.
The company can report that Rhinomed has been added as a vendor by two major US based pharmacy wholesalers and the successful expansion of the listing of its Mute Sleep technology by Symbion in Australia.
Highlights:
- USA based Amerisource Bergen accepts Rhinomed as a Vendor, opening Mute to 3200 Good Neighbor pharmacies and broader distribution network
- First wholesale account with Cardinal Health established through its subsidiary Independence Medical
- Australian based Symbion includes Mute as part of the Pharmacy Choice core range in 900 pharmacies
- Major milestone in expanding the global distribution footprint
United States
The Company is pleased to announce that it has been accepted as a Vendor by the US based pharmacy wholesaler Amerisource Bergen (NYSE:ABC). Rhinomed's US based independent medical representative team will be focusing on selling into and unlocking the significant opportunity in Amerisource Bergen's pharmacy network. Initial store distribution details are still being determined.
Amerisource Bergen distributes both prescription and OTC products to a wide variety of health care providers located throughout the United States including hospitals, independent and chain retail pharmacies, mail-order facilities, physicians and clinics. The group handles about 20% of all of the pharmaceuticals sold and distributed throughout the USA. They are ranked 16th on the Fortune 500 list for 2015 with over US$100 Billion in annual revenue.
Amerisource Bergen supplies close to 15,000 retail pharmacies, including 3,200 stores that sit within its Good Neighbor Pharmacies Program - one of the largest networks of independent community pharmacies in the USA.
Rhinomed is also pleased to be added as a Vendor and open its first account under major health care services company, Cardinal Health (NYSE:CAH). Their subsidiary Independence Medical is one of America's leading distributors of wholesale medical supplies, with a full e-commerce platform, call centre and national sales force, focusing on Durable Medical Equipment retailers, hospitals, sleep labs and Independent Pharmacy chains.
Australia
In Australia the company has successfully expanded the listing of its Mute technology with leading wholesaler Symbion. The outcome is that the Mute technology will now be able to be purchased by all the pharmacies in this network.
Symbion started distributing Mute within its pharmacy network on 31st March 2015. Symbion has now expanded this presence and ranged Mute in the 900 strong Pharmacy Choice network and expanded access to Mute to its entire network of close on 3,500 pharmacies. Pharmacy chains that currently use the Symbion network include Pharmacy Choice, Dose Aid, UFS, Pharmacy Select, Community Care, Star Group and Good Price pharmacies.
Next steps
Acceptance as a Vendor is the first step in unlocking the gateway to these vital pharmacy networks as we seek to build a significant retail footprint within the American market.
The increased Australian distribution footprint is reflective of the growing acceptance by consumers, clinicians and pharmacists of the Mute technology and the rising sales over the last six months through Symbion.
The company is working closely with the sales teams of its Australian and New Zealand distribution partner - The Linde Group (BOC Limited) to ensure the pharmacies in the Symbion network begin stocking the Mute technology. The company expects to see the impact of this expansion in distribution on revenue over the rest of this calendar year.
Mute is an over-the-counter product that supports nasal breathing, enabling snorers or those with nasal obstruction and congestion to breathe more easily through their nose and help keep their mouth closed during sleep. Mute is designed to fit the natural anatomy of the nose and is individually adjustable on both sides so you can control the level of dilation and airflow.
About Mute(TM)
Mute(TM) is a unique nasal respiratory technology that has been found to reduce the volume and frequency of snoring in 75% of users*. Mute is easy to use, drug free and fits discreetly inside the nose. Made from ultra-soft polymers, Mute gently expands each nostril to increase the volume of air in each breath. By doing so, Mute encourages nasal breathing and reduces the need to open the mouth during sleep, factors critical to a reduction in snoring and better sleep. For more information or to purchase online, visit www.mutesnoring.com
*Mute in-home user trial, 2014. n=118 couples. Results may vary
About Rhinomed Limited
Rhinomed Limited (ASX:RNO) is a Melbourne based technology firm with a focus on nasal, respiratory and breathing management technologies. The company is seeking to monetise applications of its technology portfolio in the Sport, Sleep, Wellbeing and Drug Delivery markets. For more information, go to www.rhinomed.global
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