The Spanish company Devicare, which specializes in the field of urology, continues with its goal of expanding borders and is looking to introduce its star product, Lit-Control, in Kenya, as confirmed by Rosendo Garganta, CEO of Devicare,.
The biotech company has signed a licensing and distribution agreement in the African country for its Lit-Control product range with Sisi Pharmaceuticals. With Kenya, Devicare will extend its commercial network beyond Morocco and Algeria.
Lit-Control is a non-surgical solution for renal lithiasis (kidney stones). This pH meter is specifically designed to offer personalized medicine by measuring patients’ urinary pH and recommending the correct medication. Later, through the transmission of data to an app and the use of computerized algorithms, it will allow adjusting its dosage and posology to make the treatment more effective and to enable urologists and their patients to manage the disease remotely.
Sisi Pharmaceuticals is an old acquaintance for Devicare, as the Barcelona-based company has worked with this distributor and closed deals in Saudi Arabia, Iraq, Pakistan, Iran, and, now, Kenya. By now, the start-up led by Garganta is present in more than fifty countries around the world.
Read more on the subject and find the most important business headlines in the world with the Born2Invest mobile app.
Devicare has signed agreements with Sisi in Saudi Arabia, Iraq, Pakistan, and Iran
“Africa is a complicated territory to introduce products and even more so if you want to do it with premium products specialized in health,” explained the executive. “We are awaiting the relevant approvals to launch the products as soon as possible for the regular clinical practice of medical and healthcare professionals in Kenya,” added Garganta.
Devicare had a turnover of one million euros in the 2020 financial year and expects to grow by 50% this year. Since its founding, the Spanish urology company has raised more than ten million in funding. The company’s goal for the coming years is also to reach eighty countries.
Last January, the company closed a financing round of three million dollars. The deal was led by the medical technology company Advanced MedTech, owned by Temasek Holdings, Singapore’s sovereign wealth fund. Advanced MedTech is a medical technology company with a focus on urology.
The company restructured its board of directors last February
A month later, in February, Devicare acquired its Urogelus product from M4 Pharma with the aim of strengthening its presence in this therapeutic area. M4 Pharma is a laboratory dedicated to the commercialization of pharmaceuticals in ophthalmology, ENT and urology.
Days later, Devicare announced a restructuring of its board of directors, with the incorporation of the first three independent members, in addition to two observers. They are Josep Gatell, CEO of a medical technology business group comprising Cardiolink, Swan Medical and Ilerimplant; Carlos Moreu, CEO of M4 Pharma; Abel Ang, CEO of Advanced MedTech Holdings; Luís Balbás, managing director of southern Europe at Dornier MedTech; and Maite Fibla, founder of Ship2B Ventures.
Devicare’s board now consists of five directors and two observers. The other members are Rosendo Garganta, Roberto Costillas and Marc Palà, who represent Emesa Corporación Empresarial.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Depression, or No Depression; That Is the Question
So are we in a depression or not? While you certainly won't hear anyone official saying so any time soon...
Foreign US Treasury Bond Holdings
There are plenty of countries out there with significant US Treasury Bond holdings, and China's right up there with the...
Why Tilray Shares Rose This Friday Morning
Tilray closed the third quarter of 2022 with revenues of $151.87 million. In the previous quarter, the company had recorded...
Double-Peak Formation Points to a Drop in Solana’s Share Price
The SOL price has also declined as investors are concerned about the continued weakness of NFT platforms on Solana. Data...
These Two Methods Can Help You Get More Traffic to Your Website
As a business owner, you need to stand out from that crowd and convince potential customers to visit your website....
Business2 weeks ago
Best Small Business Web Hosting — The Only Guide You Need
Featured2 weeks ago
Indra Gains Traction as an ESG Asset Despite Last Month’s Controversial Board Meeting
Business2 weeks ago
A New Area of Rapid Growth with Numerous Opportunities for Collaborative Initiatives
Crypto2 weeks ago
Tesla Sold 75% of its Bitcoins. Does Elon Musk Still Believe in Cryptocurrencies?