Salona Global Announces Exclusive Partnership with Recently Launched U.S. Military Veteran (VA) Focused Distribution Company
January 11 2024 - 7:30AM
Salona Global Medical Device Corporation (the
“
Company”) (TSXV:SGMD), announced today it
has executed an exclusive distribution agreement with Veteran
Medical Solutions, LLC (“
VMS”), a U.S. military
veteran owned company that is positioned to sell the Company’s
Biodex branded equipment.
The Veterans Health Administration of the U.S.
Department of Veterans Affairs is the largest integrated heath care
system in the United States with over 9 million enrolled.1 Over
760,000 patients were treated by over 2,300 physical therapists,
making it the single largest employer of physical therapists in the
U.S.2
VMS was launched by Kyle Wilks, a graduate of
the U.S. Naval Academy in Annapolis and former Naval Officer.
VMS is focused on addressing the numerous physical challenges
veterans face upon leaving the service. VMS intends on servicing
the growing market demand for physical therapy by U.S. veterans
through the sale solely of Biodex equipment. Also joining VMS is
Paul Buico, a graduate of the United States Military Academy West
Point. Paul has over 25 years of sales, marketing and commercial
operations experience in the life science industry with such
companies as Bayer and Takeda Abbott Pharmaceuticals.
As a result of becoming a potential customer,
Mr. Wilks has resigned from the Board of Directors of the
Company.
“We continue to find new channels for our Biodex
products,” said Mike Seckler, CEO. “Our products hold significant
value within the Veterans Affairs heath care system. Kyle and his
team of U.S. military veterans are uniquely equipped to ensure the
proper support of Biodex products to any VA medical facility
requiring them," emphasized Mr. Seckler.
Deirdre Rafferty, MS, ATC from the University of
Colorado Anschutz Medical, deeply involved with active military and
veterans, shared, “The (Biodex) System 4 allows both researchers
and clinicians to better detect musculoskeletal deficiencies within
the active duty and veteran community. It provides the necessary
information to better address approaches to rehab and ensure a
better recovery program.”
For more information please contact:
Mike SecklerChief Executive OfficerTel: 1 (800)
760-6826Email: Info@Salonaglobal.com
Additional Information
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Certain statements contained in this press
release constitute "forward-looking information" within the
meaning of the Private Securities Litigation Reform Act of 1995
and applicable Canadian securities laws. These statements can be
identified by the use of forward-looking terminology such as
“expects” “believes”, “estimates”, "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
and "anticipate", and similar expressions as they relate to
the Company, including: VMS becoming a customer of the Company and
VMS successfully selling any of the Company’s Biodex branded
equipment.
All statements other than statements of
historical fact may be forward-looking information. Such
statements reflect the Company's current views and intentions
with respect to future events, and current information available
to the Company, and are subject to certain risks, uncertainties
and assumptions. The Company cautions that the forward-looking
statements contained herein are qualified by important factors
that could cause actual results to differ materially from those
reflected by such statements. Such factors include but are not
limited to the general business and economic conditions in the
regions in which the Company operates; the ability of the
Company to execute on key priorities, including the successful
completion of acquisitions, business retention, and strategic
plans and to attract, develop and retain key executives;
difficulty integrating newly acquired businesses; ongoing or new
disruptions in the supply chain, the extent and scope of such
supply chain disruptions, and the timing or extent of the
resolution or improvement of such disruptions; the ability to
implement business strategies and pursue business opportunities;
disruptions in or attacks (including cyber-attacks) on the
Company’s information technology, internet, network access or
other voice or data communications systems or services; the
evolution of various types of fraud or other criminal behavior
to which the Company is exposed; the failure of third parties
to comply with their obligations to the Company or its
affiliates; the impact of new and changes to, or application
of, current laws and regulations; granting of permits and
licenses in a highly regulated business; the overall difficult
litigation environment, including in the United States;
increased competition; changes in foreign currency rates;
increased funding costs and market volatility due to
market illiquidity and competition for funding; the availability
of funds and resources to pursue operations; critical
accounting estimates and changes to accounting standards,
policies, and methods used by the Company; the occurrence of
natural and unnatural catastrophic events and claims
resulting from such events; as well as those risk factors
discussed or referred to in the Company’s disclosure documents
filed with United States Securities and Exchange Commission and
available at www.sec.gov, and with the securities regulatory
authorities in certain provinces of Canada and available at
www.sedarplus.ca. Should any factor affect the Company in an
unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results
or events may differ materially from the results or events
predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement.
Moreover, the Company does not assume responsibility for the
accuracy or completeness of such forward-looking information.
The forward-looking information included in this press release
is made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking information, other than as required by
applicable law.
____________________________________
1 https://www.va.gov/health/2
https://www.prosthetics.va.gov/PT/
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