NORCROSS, Ga. – Medical device maker Novoste (NASDAQ: NOVT) has signed an agreement with Orbus Medical Technologies of Ft. Lauderdale, Fla., to distribute the R Stent in the countries of Germany, France, England, Canada and Belgium.
Orbus has previously distributed the stent through its own distribution sales force in the named countries. The five-year agreement gives Novoste exclusive rights to distribute the R Stent and any new interventional cardiology products developed and approved for commercial distribution in the countries included in the distribution agreement.
“This agreement allows Novoste to bundle a high performance stent and stent delivery system with our vascular brachytherapy system in that part of the world where economic incentives are important to our physician customers,” Novoste President and Chief Executive Al Novak said in a statement. “It also allows us to have more product breadth in those European countries where it is challenging to sell brachytherapy alone.”