Partnership Expected to Increase SofPulse® Distribution and Revenues
Los Angeles, CA, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) today announced a new non-exclusive stocking distributor agreement with Pulse Therapeutics Technology, Inc. (the “Distributor”) to purchase and distribute its SofPulse® medical devices into Mexico and Costa Rica.
The Distributor, recognizing the treatment potential of the SofPulse® PEMF (Pulsed Electro Magnetic Frequency) device, recently purchased in excess of $100,000 of product for testing and marketing in Mexico and Costa Rica, and the test was successful, and the stocking Distributor has placed an initial order of $300,000.
Endonovo – through its subsidiary SofPulse, Inc. – will work closely with the Distributor to provide ongoing support and training to ensure successful implementation of the SofPulse® in clinics and hospitals in the region. The Company will establish a dedicated customer service team to support its continued international expansion.
Revenue and Distribution
Ira Weisberg, President of SofPulse, Inc., commented on the announcement: “With international distribution of the SofPulse® into Mexico and Costa Rica, the Company expects to see a significant increase in quarterly revenues. The positive feedback on the product's effectiveness in reducing inflammation, pain and edema is a good indication of the product's potential success.
Weisberg continued: “The purchase of SofPulse® units by the Distributor affirms our belief that there is an international business for SofPulse® and that there is high demand for the device in these markets. This partnership, and others expected to follow, should lead to a major financial boost for the Company.”
Weisberg concluded: “The decision of an international distributor to purchase a large inventory of units and position SofPulse® as their flagship product for 2023 indicates a strong belief in the product's potential success.”
International Expansion to Continue
The Company’s “Go-to-Market” strategy for SofPulse® is continuing to move forward aggressively. The Company is presently negotiating to expand distribution of SofPulse® through additional major distribution partners in South and Central America. It is concurrently continuing licensing and distribution contract discussions with recognized distribution partners in Australia, Europe and various Southeast Asian markets.
Additionally, the SofPulse® device is expected to obtain Taiwan FDA clearance later in 2023 to sell and distribute throughout Taiwan through a previously announced partnership with Evermed Medical Enterprise Ltd.
About Endonovo Therapeutics, Inc.
Endonovo Therapeutics is currently structured into two divisions: Legacy – a commercial-stage developer primarily of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives with many of its products marketed under the SofPulse® brand name; and its Build Up Strategy – acquiring complementary specialty service providers in the construction industry.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate", "believe", "plan", "estimate", "expect", "intend" and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Steve Barnes
(800) 701-1223 Ext. 108
sbarnes@endonovo.com
www.endonovo.com
Media Contact:
Gregory A. McAndrews
Greg McAndrews & Associates
(310) 804-7037
greg@gregmcandrews.com
