ASX Health Stocks: EU approval set to open up Wellfully's knee patch to European markets

Wellfully gets registration approval in the EU for knee patch
OneView wins $2m legal claim from Regis Healthcare

Wellfully (ASX:WFL) was up 11% after it successfully registered its Swisswell Lubricen Knee Patch as a Class I medical device in the European Union (EU).

A Class 1 registered medical device enables substantiated medical claims to be made, allowing WFL to increase opportunities with pharmacy partners across the EU markets.

The company says the EU registration will also serve as a platform for similar product registrations across other markets, including the US, UK and Australia.

The Swisswell Lubricen Knee Patch was initially launched in August 2021, but only sold through the company’s direct-to-consumer channels.

Unlike most topical relief products that manage joint pain, the Lubricen is a tech-enhanced adhesive knee patch that lubricates the joint before, during, and after physical activity.

Initial feedback from consumers and interest from potential industry partners had been very positive since the launch.

Wellfully share price today:

OneView wins $2m settlement from Regis

OneView Healthcare (ASX:ONE) also surged 11% after announcing that it has reached a commercial settlement with aged care operator, Regis Healthcare (ASX:REG), in relation to the claim launched by ONE for breach of contract.

The terms of the settlement are confidential, but provides for a cash payment to ONE of $2 million to be paid within 30 days.

The settlement was also made between the parties without admission of liability of either party.

In December 2020, OneView launched a legal claim against Regis in the Supreme Court of Victoria, claiming that Regis breached a collaboration agreement that was meant to develop a care management solution.

OneView had pursued damages following a change of leadership at Regis, where Regis advised that it would not deploy the new care management solution.