Company Press Releases Back
CytoSorbents Expands CytoSorb E.U. Distribution With WMC in the Netherlands
Wednesday October 30, 2013
MONMOUTH JUNCTION, NJ–(Oct 30, 2013) – CytoSorbents Corporation (OTCQB: CTSO), a critical care focused therapeutic device company using blood purification to treat life-threatening illnesses, announced the signing of an exclusive distribution agreement with WMC Medical Supplies and Consultancy for distribution of CytoSorb® in the Netherlands. This multi-year agreement is subject to annual minimum guaranteed orders of CytoSorb® to maintain exclusivity.
Mr. Eric Willemsen, CEO of WMC in the Netherlands, stated, “We believe that our partnership with CytoSorbents will enable us to address the growing serious problem of critical care illnesses in a market where patients are getting older and sicker. CytoSorb® is a very promising and easy to handle product that has been effective in treating very sick patients in the intensive care unit.”
Dr. Phillip Chan, CEO of CytoSorbents Corporation, commented, “We are pleased to be working with WMC on the launch of CytoSorb® in the Netherlands. WMC's significant experience in marketing new medical products through its established physician and hospital relationships will help to facilitate market interest and sales of CytoSorb® in this important country.”
The Netherlands has the 18th largest economy in the world and ranks 10th in gross domestic product per capita. The country has approximately 17 million people, and its capital Amsterdam is well known. The Netherlands offers its citizens a high level of medical care, spending 9.3% of its GDP, or approximately $75 billion, on healthcare. The people are serviced by 94 hospitals, of which 18 are major university and top clinical centers. The average life expectancy of its citizens is 78 years of age for men, and 82 years of age for women.
About WMC Medical Supplies and Consultancy
WMC Medical Supplies and Consultancy was established in 2007, led by an experienced, passionate and dedicated team that specializes in the introduction and clinical support of innovative medical devices in hospitals. The company also works with companies to support clinical studies. http://www.w-m-c.nl
About CytoSorbents Corporation
CytoSorbents Corporation is a critical care focused therapeutic device company using blood purification to modulate the immune system and fight multi-organ failure in life-threatening illnesses. Its purification technology is based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and adsorption. CytoSorb®, the Company's flagship product, is approved in the European Union as a safe and effective extracorporeal cytokine filter, designed to reduce the “cytokine storm” that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. These are conditions where the mortality is extremely high, yet no effective treatments exist. Additional information is available for download on the Company's website: http://www.cytosorbents.com.
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. Risk factors are detailed in the Company's Form 10-K filed with the SEC on April 3, 2013, which is available at http://www.sec.gov.
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Dr. Phillip Chan
Chief Executive Officer
(732) 329-8885 ext. *823
CytoSorbents Investor Contact
Alliance Advisors, LLC
(914) 669-0222 x201
CytoSorbents Media Contact
Source: CytoSorbents Corporation