NGS initiates an agreement with US medical distributor
Health & Biotech
Health & Biotech
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Special Report: Nutritional Growth Solutions (NGS) has expanded distribution coverage for its Healthy Height protein powder in the US by recruiting Independent Medical Co-op.
A leading distributer of medical supplies and equipment in the US, Independent Medical Co-op (IMCO) will distribute Nutritional Growth Solutions’ (ASX:NGS) Healthy Height product to the US medical market.
The distribution agreement with IMCO will provide NGS with access to 134 IMCO distribution agents in 166 locations across the US with more than 1,000 sales representatives.
“The US is a key growth market for NGS and having access to IMCO’s established distribution network along with their expertise for sales and marketing activities, provides another important pathway to market for our products,” NGS managing director and chief executive, Liron Fendell, said.
“We are very pleased to announce our non-exclusive distribution agreement with IMCO,” Fendell added.
Access to IMCO sales, marketing network and expertise in the US healthcare market
The agreement provides NGS with sales and marketing activities and logistics solutions at scale across IMCO’s healthcare network in the US.
NGS will also gain access to IMCO’s sales and marketing expertise and activities to drive awareness of its Healthy Height and other nutritional growth supplements among IMCO’s sales network.
The distribution partnership complements existing online sales and other distribution channels for NGS and its products in the US.
Initially for a period of two years, the distribution agreement with IMCO is renewable at annual intervals, thereafter, said NGS.
NGS’s Healthy Height and its clinically validated paediatric nutritional products fill a void in the marketplace for many medical distributors in the US.
IMCO has 40-year pedigree and $US4bn of annual sales
IMCO is a co-operative association of independent medical supply distributors that serves pharmacies, physicians, hospitals and other medical markets in the US.
Its goal is to unite the best medical supply product manufacturers in the US with the best group of independent medical supply distributors as an efficient way of servicing the healthcare market.
The company has been operating in the US market for 40 years and has annual sales of $US4bn.
IMCO member distributors serve all aspects of the healthcare industry in the US, including, home care and independent pharmacies of which there are 22,000 in the US.
Healthy Height, NGS’s premier product, has been assigned an insurance billing code to facilitate the reimbursement of patient expenses for the product from US health insurers.
Distribution of Healthy Height through IMCO’s network is expected to start in early 2021.
“The partnership with IMCO is in keeping with our strategy to grow the business through new sales channels to complement our growing online sales presence in the US region,” NGS chairman, Brian Leedman, said.
NGS develops, produces and sells clinically tested nutritional supplement formula products for children based on 20 years of medical research into paediatric nutrition at Israel’s Schneider Children’s Medical Centre.
This article was developed in collaboration with Nutritional Growth Solutions, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.