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| MicroThermX--Courtesy of BSD |
BSD Medical said Terumo will distribute one of its key ablation surgical tools into Eastern European markets and the Middle East over the coming months, expanding on a fledgling partnership that has already demonstrated some traction in other European, Western Asian and African countries.
BSD ($BSDM), which is based in Utah, said the new markets build on a distribution agreement with Terumo regarding MircoThermX, a microwave ablation system designed to help treat cancer and other diseases through the ablation, or burning, of soft tissue. The product has a CE mark, which is recognized in Europe and many other countries, but also a 510(k) in the U.S. Terumo, a Japanese medical device and equipment conglomerate, is distributing the product through its European arm in a deal that covers more than 100 countries.
Both see a potential market that surpasses $1 billion, so the broader the marketing focus the more likely they'll reach that target. Both sides announced their initial deal in April, and BSD places high hopes on the outcome. BSD president and CEO Harold Wolcott said he sees their distribution agreement as helping BSD reach profitability. Terumo, with nearly $5 billion in sales in 2012 and an $8 billion market cap, already sells devices used for tumor embolization through its Terumo Europe division, and so the new agreement makes sense.
BSD announced in January it had begun to sell MicroThermX in Egypt, through a Cairo-based distributor.
BSD said it generated $1.3 million in revenue and lost $1.5 million in its fiscal 2014 first quarter, ending Nov. 30, 2013, both reflecting major improvements over the previous year, propelled in part by MicroThermX sales hikes.
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