Q3 Medical Devices Limited Enters into a Distribution Agreement with Medtronic for its Biodegradable Biliary and Pancreatic Stent
DUBLIN--(BUSINESS WIRE)--May 15, 2019--
Q3 Medical Devices Limited (“Q3 Medical”) based in Dublin, Ireland, announced today that it has entered into a distribution agreement with Medtronic plc for ARCHIMEDES, the first to market fully biodegradable biliary and pancreatic stent designed as an alternative to traditional plastic stents.
Medtronic’s Gastrointestinal and Hepatology business, which is part of the Minimally Invasive Therapies Group and Q3 Medical agreed to a six-year, exclusive agreement to distribute ARCHIMEDES biodegradable stent in western EU, US, and Japan; with rights to other regions. Q3 Medical will continue to expand its presence in South East Asia, Latin America, Eastern Europe, and the Middle East.
Typically, biliary and pancreatic duct stents are made of plastic or metal, however the ARCHIMEDES stent is made of a combination of dissolving materials permitting different rates of degradation depending on the patient need. Use of degrading materials in a stent, decreases reinterventions that are common with current stents and allows the potential for eliminating a stent removal procedure which is almost always done for plastic and metal stents currently. ARCHIMEDES has CE Mark.
Eric Mangiardi, President & CEO of Q3 Medical stated, “We are excited and fortunate to have partnered with a world leading medical device organization like Medtronic. Entering into this agreement is a major step toward our goal of becoming the world leading developer of biodegradable implants. Mangiardi further stated; “The promise of ARCHIMEDES is based in its potential to eliminate the second removal procedure required for traditional plastic stents, which could reduce billions of expenses from the global healthcare system while improving patient care.”
About Q3 Medical Devices
Q3 Medical Devices Limited is an Irish based holding company focused on the acquisition of novel medical device businesses with annual revenues up to EUR 10 Million. The holding company, through its expanding operations in Winsen, Germany (QualiMed Innovative Medizinprodukte GmbH, AMG International GmbH); Shanghai, China (Q-San); and Charlotte, N.C. (QualiMed-USA) is focused on the development, manufacturing, and distribution of minimally invasive devices for the treatment of patients with cardiology, peripheral vascular, and non-vascular diseases.
The wholly owned companies are focused on the continued global development and commercialization of their Core, Micro Invasive, Biodegradable, & Drug Delivery Technologies. The Company’s products are now sold in over 50 countries worldwide through its OEM, Private Label, and Own Brand Networks. Q3 Medical, through its wholly owned subsidiaries is focused on three key Verticals in which it will compete; Biodegradable Implants, Micro Invasive Technologies, and Drug Delivery Platforms.
Q3 Medical Devices Limited was formed by a global group of entrepreneurs, manufactures, distributors, industry doctors, and investors focused on the development and acquisition of medical device businesses. The company is focused on Creating Value By Helping People.
For further information, please visit http://www.q3medical.com/.
“CREATING VALUE BY HELPING PEOPLE”
View source version on businesswire.com:https://www.businesswire.com/news/home/20190514006144/en/
CONTACT: Eric Mangiardi
President & CEO
Q3 Medical Devices Limited
KEYWORD: EUROPE IRELAND
INDUSTRY KEYWORD: SURGERY HEALTH BIOTECHNOLOGY CARDIOLOGY MEDICAL DEVICES GENERAL HEALTH
SOURCE: Q3 Medical Devices Limited
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PUB: 05/15/2019 02:06 AM/DISC: 05/15/2019 02:06 AM