SOURCE: BSN medical

BSN medical

December 16, 2015 09:01 ET

BSN Medical Partners With Ortopédicos Futuro to Strengthen Its Vascular Care Position in Columbia, Ecuador and Regional Export Markets

Joint Venture Accelerates International Expansion

LUXEMBOURG CITY, LUXEMBOURG and BOGOTA, COLUMBIA--(Marketwired - Dec 16, 2015) - BSN medical and Ortopédicos Futuro today announced a joint venture to strengthen their market position in compression garments in Columbia, Ecuador and neighboring markets. As part of the collaboration, BSN will provide its Vascular Care portfolio as well as capabilities and resources. Ortopédicos Futuro will contribute its No-Varix® compression garments along with optimal customer access through their 23 stores in Columbia and Ecuador.

The joint venture will operate out of Columbia as Ortopédicos Futuro Columbia SAS and in Ecuador as Ortopédicos Futuro SA, and it includes the company's current operations in Colombia, Ecuador and its export markets. Financial details were not disclosed.

"This partnership aligns perfectly with our strategic priorities and strong focus on growth in emerging markets, particularly in Latin America," said Dr. Guido Oelkers, chief executive officer of BSN medical GmbH. "Moreover, the No-Varix product range complements our own Vascular Care portfolio. Joining forces with Ortopédicos Futuro allows BSN to improve our understanding of patients' needs and reinforce our partnerships with healthcare professionals in Latin America."

As a result of the joint venture, BSN will gain access to Ortopédicos Futuro's distribution network in Colombia and Ecuador, which enables BSN to position its assortment of products in an established retail chain. In addition, BSN will become the exclusive promotion partner for the No-Varix® compression garments. The newly formed trading companies in Colombia and Ecuador will benefit from the former owner of Ortopédicos Futuro, José Álvaro Pongutá, as he will become a member of the Board of Directors and serve as a consultant.

"We are very pleased to enter into this partnership with BSN," said José Álvaro Pongutá. "This is a unique opportunity to truly internationalize our business."

According to Charl van Zyl, executive vice president of commercial operations of BSN medical, "Ortopédicos Futuro is an excellent strategic partner for BSN, and this joint venture underscores BSN's commitment to Columbia and the Latin American market. Not only is this an exciting step forward in this growing and highly attractive region, the resulting growth will provide new perspective and opportunities for all stakeholders."

About BSN medical
BSN medical is a global leader in wound care and related vascular diseases, lymphology and non-invasive orthopedic products. Founded in 2001, the company currently employs approximately 5,500 members of staff, and generated revenues of EUR 762m in 2014. The company aims to provide an integrated therapy-driven approach -- grounded in a broad portfolio of products, enhanced by insights into current therapeutic areas and complemented by a progressive approach to partnerships. Its well-known brands such as Elvarex®, Cutimed®, JOBST®, Delta® and Actimove® are among the most trusted in healthcare. With its comprehensive product portfolio, BSN medical addresses patients' needs in the most prevalent conditions in wound care and vascular diseases, and orthopedic treatments. More information: www.bsnmedical.com

About Ortopédicos Futuro
Ortopédicos Futuro was established in 1979 as a result of Mr. Alvaro Ponguta's knowledge of Pharmacy and medical compression legwear. It started out as a single shop focused on the needs of patients that needed home care but didn't have accessible alternatives. Ortopédicos Futuro is a pioneer in Colombia in the use of medical representatives within the compression garment segment. This has allowed Ortopédicos Futuro to work closely with the medical community. Texpon S.A., the manufacturing company that produces the No-Varix brand legwear was founded under strict quality standards. No-Varix® currently controls 90 percent of the Colombian compression legwear market, and 97 percent of that is in Ecuador. Ortopédicos Futuro currently has 21 stores in Colombia; two in Ecuador, and it exports its No-Varix brand products to markets in Central America, South America, the Caribbean, and some states in the U.S.

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