Global health company Nutritional Growth Solutions Ltd (ASX: NGS) has signed a vendor agreement with leading US independent medical distributor cooperative, IMCO, INC. The Agreement term is for a minimum period of two years with an automatic one-year renewal term thereafter.
IMCO, INC member distributors serve all aspects of the healthcare continuum of care, including home care and independent pharmacies. There are approximately 22,000 independent pharmacies in the United States representing 36% of all retail pharmacies1. Under the terms of the Agreement, NGS will also have access to IMCO, INC’s expertise in relation to sales and marketing activities to drive product awareness amongst their member network.
As a cooperative association of independent medical supply distributors, IMCO, INC aims to provide its distribution network with access to cutting edge and innovative products. NGS anticipates that its unique, clinically validated pediatric nutrition products have the potential to fill a current gap for many medical distributors’ product offering. In addition, NGS’s premier product, Healthy Height, has already been assigned an insurance billing code in the US, which will facilitate the submission of claims for reimbursement to health insurers, an important requirement for a number of consumers and providers.
Managing Director and CEO, Liron Fendell, said the agreement with IMCO, INC provides a new sales channel which complements NGS’s existing US sales through online channels. The company is looking forward to further developing the relationship with IMCO, INC, who has been operating in the US for almost 40 years, with annual sales currently over US$4 billion.
Ms Fendell said that at this stage, the company expects Healthy Height will be available for distribution under the Agreement in calendar Q1 2021.
We are very pleased to announce our non-exclusive distribution agreement with IMCO, IN,” Ms Fendell said.
“The US is a key growth market for NGS and having access to IMCO INC’s established distribution network along with their expertise for sales and marketing activities, provides another important pathway to market for our products.”