TechCare Signs its First European Distribution Agreement for Novokid Lice Treatment Device, With MWMedical B.V. in the Netherlands
NEW YORK, January 23, 2018 /PRNewswire/ --
TechCare Corp. (OTCQB: TECR), a technology company with a revolutionary delivery platform that uses vapor technology for natural health, wellness and beauty treatments, today announced it has signed its first distribution agreement with MWMedical B.V., a leading distributor of medical devices in the Netherlands, for TechCare's Novokid lice treatment device, which addresses a $1.8 billion market globally, and a European market estimated to exceed $500 million.
The multi-year agreement grants the distributor exclusive distribution rights in the Netherlands in consideration of minimum purchase commitments. The distributor has already placed its first order of Novokid's products, 2,500 kits, which will be available in the Netherlands beginning in mid-February.
The Netherlands represents the first success for TechCare among 28 European countries that TechCare is able to sell to following the receipt of CE Approval in August of last year. As the Netherlands is one of the most densely populated countries in the world, with 17.04 million people living in close proximity, lice management is very important in this country.
TechCare is laser focused on expanding to the remaining 27 countries, as well as to gain repeat and increased orders from its Dutch partner.
According to Zvi Yemini, Chairman of TechCare Corp., "TechCare is delighted to announce its first agreement for Novokid with MWMedical to provide TechCare's leading technology with the broad representation of this organization in Netherlands. We are proud that after a wide-ranging evaluation, MWMedical has selected TechCare's technology. Beginning in February, the Dutch market will now have wide access to the superior Novokid lice treatment device."
Maarten Wijsmuller, CEO of MWMedical B.V. commented, "We were very attracted to the Novokid Lice Treatment for many reasons. First, Novokid is remarkably convenient, as a home use device, dry treatment that requires no rinsing or washing, and only takes 10 minutes to administer. Second, for safety, since the device is a 100% natural, plant-based and pesticide-free product. And finally, since Novokid can also be used as a maintenance and preventative treatment if used regularly, we envision the product will provide an opportunity for repeat business from our end customers. We are thrilled to enter into this agreement to be able to offer our customers this best in class lice treatment device."
The product is being launched by MWMedical at the Huishoudbeurs Amsterdam trade show (http://www.huishoudbeurs.nl) from February 17-25, 2018. Huishoudbeurs Amsterdam is the Netherlands' largest consumer exhibition for lifestyle, housekeeping and fashion, which will have 235,000 visitors during the 9-day event. This event showcases products and the latest trends and developments in the field of fashion, care, housing, leisure, culinary, health, workshops and more in the consumer industry. With numerous exhibitors and service providers presenting their products and services, Huishoudbeurs is considered among the industry as a key event to find inspiration and fresh ideas.
Shlomi Arbel, CEO of TechCare commented, "We are delighted that Novokid will launch in the Dutch market at the leading consumer event of the year. Our plans are to maximize our relationship with our distribution partner, and to leverage this momentum to expand to the additional 27 countries available to TechCare under its CE Mark."
About TechCare Corp.
TechCare is a technology company engaged in the design, development and commercialization of an innovative delivery platform utilizing vaporization of various natural, plant-based compounds, to enable a wide variety of treatment solutions. Inspired by simple, natural treatments that have been used for generations. TechCare's renowned scientists combine traditional wisdom with innovative, proprietary technology and years of research to create solutions that answer the needs of today's consumers.
Novokid is a revolutionary anti-lice home use device that eliminates lice, super lice and eggs with a simple 10 minute treatment with no rinsing or washing required.
Novokid is 100% natural, plant based, and pesticide free.
Shine, a hair treatment device, developed with internationally renowned industry leaders cleanses the hair and scalp and rejuvenates hair by returning its natural health, shine, body and luster.
Additional products are in development and slated for launch in 2018-9.
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SOURCE TechCare Corp
Company Codes: Bloomberg:TECR@US, RICS:TECR, OTC-QB:TECR