Covalon Technologies Ltd. Successfully Signs Distribution Agreements And Commences Sales In Nine Countries Within Vast Latin American Market

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced that it has signed distribution agreements and commenced sales of its line of innovative Infection Control and Advanced Wound Care products into nine countries in Latin America.

“Following our extremely successful attendance at the Hospitalar trade show in Sao Paulo, Brazil on May 17-20, 2016, we are more convinced than ever that our proven business model used in other regions, such as the Middle East, will allow Covalon to rapidly grow our presence in Latin America”

Covalon’s products are now immediately available in Argentina, Chile, Guatemala, Honduras, Nicaragua, El Salvador, Costa Rica, Panama and Puerto Rico.

Covalon expects to have its products cleared in Mexico, Colombia, Peru, Venezuela, Ecuador, Dominican Republic, Paraguay and Uruguay by the end of 2016. Regulatory clearance in Brazil is expected in 2017.

With over 600 million people in Latin America and significantly higher rates of hospital-acquired infections as compared to the United States, Covalon’s products will provide advanced options for Latin American clinicians to help reduce infections and promote the healing of chronic wounds when used as part of appropriate clinical protocols.

“Following our extremely successful attendance at the Hospitalar trade show in Sao Paulo, Brazil on May 17-20, 2016, we are more convinced than ever that our proven business model used in other regions, such as the Middle East, will allow Covalon to rapidly grow our presence in Latin America,” said Brian Pedlar, Covalon’s Chief Executive Officer. “It has become clear that our products are uniquely positioned to address many of the clinical treatment gaps currently found in the Latin American infection control and advanced wound care markets. We are pleased with our rapid entrance into nine countries in Latin America to date. We are encouraged by the positive results of the multiple evaluations of our products underway by key opinion leaders in the region.”

Covalon offers infection management and advanced wound management dressings for both acute and chronic wounds, including its CovaWound™ ColActive® and SurgiClear™ brands that have strong clinical evidence to support their superior efficacy in helping to prevent infections in surgical procedures or in chronic diabetic foot wounds. ColActive and CovaWound when used together have the ability to rapidly promote wound closure and healing in chronic wounds, which remains an under-addressed market in Latin America.

About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com

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This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.