Coronado Industries Inc., a manufacturer of pneumatic devices for the treatment of glaucoma, announced that the company has made a further major advance into the European markets by concluding a sales and distribution agreement with Izasa S.A. of Madrid, Spain.
Izasa S.A. is a privately held company with more than 20 years experience in the ophthalmic and optometric field and is the largest distributor of clinical and laboratory products, hospital products and medical devices in Spain.
Financial terms of the agreement were not disclosed. Gary Smith, president of Coronado Industries, said that the success of the agreements, which led to the entry of Coronado into these lucrative markets, must be credited to Dr. John Sharkey, Coronado’s director of operations, and Aspes, who joined the Coronado team just five months ago. “During this short period of time, their focus and drive has made these first steps toward profitability possible. Our agreement with Izasa marks yet another milestone – the second in what we expect will be a whole series of profitable relationships with major European distributors,” said Smith.
Dr John Sharkey said, “The ready availability and broad placement of PNT controllers is a key component of our strategy for the successful rollout of the technology into the marketplace. Additional controller sales will occur as our existing partners fully develop their respective markets and as we continue to enter into agreements with distribution partners in additional markets.”
The five-year exclusive agreement for distribution of Coronado Industries’ patented PNT device in Spain is the second with a major European distributor to be signed by the Coronado team in recent weeks.
Coronado Industries, through a wholly owned subsidiary, Ophthalmic International, focuses on the development of their patented procedure as a cost-effective alternative for the treatment of the most common types of glaucoma, which are open angle and pigmentary.