VANCOUVER, British Columbia, June 20, 2016 – LED Medical Diagnostics Inc. (“LED” or the “Company”) (TSX-V: LMD) reports that its wholly owned subsidiary, LED Dental Inc., has signed an exclusive distribution agreement with Biocare Health Supply Ltd. for the sale and distribution of its award-winning VELscope Vx system in China and Hong Kong. The agreement is subject to quarterly minimum purchase requirements over the term of the agreement. Biocare is a British Columbia-based firm whose mission is to introduce innovative medical equipment, pharmaceuticals and treatments into the Chinese healthcare market through its partnership with National Medicines Prospect Dentech (Beijing) Co., Ltd. Prospect Dentech is the largest oral medicine, dental equipment and materials distributor in China with on-site sales teams in the majority of the capitals of each province of China. It is the only subsidiary of Sinopharm focusing on sales and distribution of dental products, including technologies from major global manufacturers such as Acteon, Yoshida, Sunstar and Kavo Sybron. Sinopharm is China’s largest pharmaceutical group.
“LED Dental has been pursuing strategic partners for Chinese distribution of the VELscope Vx since obtaining approval to enter the market last September,” remarked Wayne Rees, Vice President of VELscope Imaging for LED Dental. “We are very pleased to announce this agreement with Biocare, which will help facilitate the introduction of the VELscope into another major healthcare economy with an initial sales order for the region anticipated in August 2016.”
Biocare will leverage Prospect Dentech’s extensive database of oral and dental health professionals in China to grow the user base of the VELscope Vx. “We have a strong distribution network that is already established, not only in over 4,000 hospitals across China, but also with the rapidly growing private dental practice market,” said Libao Tao, CEO of Biocare. “Our strategy is to reach out initially to key opinion leaders and from there to lead practitioners at major hospitals. This will smooth the way for rapid adoption by the general dental community, including private dental practices.”
“Oral cancers are one of the most common forms of cancer worldwide, with China and South East Asia being no exception,” stated Dr. David Gane, CEO of LED. “The five-year survival rate of oral cancers remains low, with delayed diagnosis suggested as a major contributing factor. Early detection and treatment of oral cancer gives the best chance for its cure.”
The VELscope Vx Enhanced Oral Assessment System is the leading adjunctive screening device around the world, utilized by dentists and health-care providers as an adjunct to the traditional comprehensive oral examination. The VELscope Vx’s tissue fluorescence technology enhances the visualization of oral mucosal abnormalities that many not be apparent or visible to the naked eye, such as oral cancer and premalignant dysplasia. The VELscope Vx is also intended to be used by surgeons to aid in the identification of diseased tissue around a clinically-apparent lesion, thus assisting in the determination of the appropriate margin for surgical excision.
Biocare is a British Columbia-based firm whose mission is to introduce innovative medical equipment, pharmaceuticals and treatments into the Chinese healthcare market.
About Prospect Dentech
Founded in 2004, National Medicines Prospect Dentech (Beijing) Co., Ltd. is specialized in the distribution and sales of medical devices, mainly focused on dental devices.
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Vancouver, British Columbia, Canada, LED Medical Diagnostics Inc., through its wholly-owned subsidiaries LED Dental Inc. and LED Dental Ltd, provide dentists and oral health specialists with advanced diagnostic imaging products and software, in addition to the award-winning VELscope® Vx tissue fluorescence visualization technology. Backed by an experienced leadership team and dedicated to a higher level of service and support, LED Dental is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.
The Company is currently listed on the TSX-V under the symbol “LMD”, the OTCQX under the symbol “LEDIF”, as well as the Frankfurt Stock Exchange under the symbol “LME”. For more information, call 884.952.7327 or visit www.leddental.com/investor-relations.