Oventus Medical Ltd has entered into a worldwide distribution agreement with Hong Kong-based Modern Dental Group. This is in addition to a recent announcement of a co-manufacturing agreement between Oventus and Modern Dental.
The distribution agreement executed between Oventus and Modern Dental relates to Oventus’ proprietary O2Vent products that are delivered through the dental channel and are indicated for use during sleep to aid in the treatment of snoring and obstructive sleep apnea (OSA). The agreement between the two parties details terms around pricing, volumes, and regions. The agreement is exclusive for the USA and non-exclusive in other regions including Australia.
Modern Dental Group is listed on the Hong Kong Stock Exchange. Modern Dental recently acquired Microdental, a dental laboratories in the United States that covers approximately 34,000 dental offices. In Australia, its local division, Modern Dental Pacific has the largest dental laboratory network in the region.
Godfrey Ngai, Modern Dental CEO, says in a release, “With our recent acquisition of Microdental in the USA, we have an unmet need to supply an oral appliance for the treatment of sleep apoea to our dentist customers. We believe the Oventus O2Vent range of devices provide the required features and benefits and clinical outcomes to meet the needs of our customers. We have selected the O2Vent range as the premium oral appliances that we take to market and distribute in the US.
“We also look forward to distributing these products in other key global markets such as Europe and Australia, through our substantial global proprietary sales and distribution network, as well as partnering for manufacturing scale up.”
Oventus managing director and CEO Neil Anderson says: “We are very pleased to have entered into a distribution agreement with such a large and well-respected dental laboratory group as Modern Dental. It is a significant achievement for us that they have chosen our oral appliance products to sell to their extensive global network of dentists.
“The agreement will accelerate our sales and allow us to continue to commercialise the product range for the sleep clinician channel over the coming year. At that point we will be well advanced in achieving our goal of bridging the gap between dentists and sleep clinicians. The oral appliance market is estimated to be growing in the order of 24% per year. It is our objective to grow this market further by bringing more patients into care.”
The two companies plan to work together in various marketing and training activities in each geography over the next 6 months leading to a scale up in sales later in 2017.
