June 26, 2008
Meridian and International Medical Systems Sign Distribution Contract
Meridian has signed an exclusive distribution contract with International Medical Systems for the Lapex 2000 LipoLaser in Latin America.
According to the agreement, International Medical Systems (IMS) will have the exclusive right to sell the Lapex 2000 LipoLaser in the following countries during the first phase of the contract: Brazil, Venezuela, Chile, Argentina, Uruguay, and Paraguay. The first year of the contract is based on projected sales of over $2.5 million.Year two of the contract includes territory expansion to include, Central America, the Caribbean, Bolivia, Ecuador, and Peru with projected sales of over three million dollars. The third year of the contract, including all territory outlined above has projected sales of over four million. The initial contract is based on a purchase order of $135,000.
Juan Torres, president and co-founder of IMS, said: "We believe that our projections are relatively conservative as the Latin American market is ready for a completely non-invasive approach to spot fat reduction."