Medow has successfully landed its largest sales agreement to date – which is also the largest business deal that a SmiLe company has made during its time in the incubator program.
“We are thrilled that we, with help from especially SmiLe and HSN Consultancy, successfully attracted the interest of such a major player outside the Nordic region. With the closing of this agreement we have the opportunity to develop and scale up the business to a completely new level. Developing new medical devices and establishing distributors takes time and considerable effort and it feels great that several years of hard work now pays off,” says Frida McCabe.
The agreement is with the Saudi Arabian Cigalah Group and concerns the rights to sell Medow’s IV- bracelet, a bracelet designed to provide safer treatments during for example dialysis or intravenous therapy by effectively securing the intravenous tubes. The agreement runs for five years and covers products corresponding to about USD 14 million or more.
Medow has entered into an agreement with the medical device business area of the Cigalah Group, Cigalah Medical Company, which may therefore distribute Medow’s IV-bracelet in Saudi Arabia, the United Arab Emirates and Bahrain over the next five years.
The bracelet has been on the market for a few years in Sweden, Denmark and Norway. The product has been procured by customers that include the Swedish regional healthcare authorities in Dalarna, Västmanland, Sörmland, Uppsala and Örebro.
Photo of Linn Wrangmark and Frida McCabe, the founders of Medow: SmiLe Incubator