FORT WORTH, TX - (Accesswire - October 2, 2013) - Wound Management Technologies, Inc. (OTCQB: WNDM) and Academy Medical have entered into an amendment to their distribution agreement signed in July, for the sales of Wound Management’s CellerateRX[TM] wound care products in VA facilities across the country. The Veterans Administration system represents over 168 hospitals, 1700 "sites of care" facilities and 8.3 million veterans. The five-year agreement has been amended to add the CellerateRX surgery products to the represented products. As a result, the annual purchase quotas for CellerateRX products has approximately doubled from $600,000 in year one to $1,150,000 and from $2,929, 000 in year five to $5,829,000.
Robert H. Lutz, Jr, Chairman and CEO, commented, "Based on the initial efforts by Academy Medical, we are delighted to add our surgical products to our agreement. Their 50 plus professionals now have our full arsenal of products to carry into the VA, all of which will be carried under the Academy Medical FSS number. We see our products playing a vital role for veterans in both a wound and surgical setting, much like we are experiencing in the private sector."
Daniel Shaw, Managing Partner of Academy Medical, said "We are excited about expanding our wound care product line to include CellerateRX. This highly regarded wound care product will provide a significant opportunity for us as well as for Wound Management Technologies within the VA system."
About Academy Medical
Headquartered in West Palm Beach, Florida, Academy Medical, LLC is a certified Veteran Owned Small Business specializing in the distribution of medical implants and wound care products. Academy Medical serves both Department of Veterans Affairs and Department of Defense hospitals and is the largest supplier of biologics on the Federal Supply Schedule. More information can be found at http://www.academymedical.net/.
About Wound Management
Wound Management Technologies, Inc., is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its unique, patented collagen product, CellerateRX[R], which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable bone wax line that is in the late stages of development. More information can be found on the company's web sites: http://www.wmgtech.com/ and http://www.celleraterx.com/.
Safe Harbor Statement
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
Wound Management Technologies, Inc.
777 Main Street, Suite 3100
Fort Worth, TX 76102
Phone: (817) 820-7080
Source: Wound Management Technologies, Inc.
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