LONDON (ShareCast) - (Sharecast News) - Surgical endoscopy firm Creo Medical entered into an addendum to its distribution agreement with Pentax Medical on Monday, extending Pentax's distribution rights for the Asia Pacific region.
The original distribution agreement had stated that Pentax had the right to distribute Creo's Speedboat product and CROMA platform in the Asia Pacific region for five years subject to agreement of final terms by territory.

CROMA is an electrosurgical platform that combines bipolar radiofrequency for precise localised cutting and microwave for controlled coagulation, while Speedboat is a device that helps to reduce the risks associated with alternative laparoscopic procedures, reducing the length of hospital stays.

Craig Gulliford, chief executive, said: "Speedboat is paving the way for our suite of GI devices under development. Our products are rapidly gaining traction in the endoscopic field and with Pentax as our partner in the Asia Pacific region, their expertise and knowledge will prove invaluable to Creo in these important markets and as we build our reputation worldwide."

Pentax will roll out Creo's products in conjunction with establishing Creo's Clinical Education Program and thereafter seeding the chosen markets, starting with Australia.

David Woods, president and chief executive of Pentax Americas, said: "I am pleased that we have been able to deepen our relationship with Creo. Ultimately, under this expanded commercial agreement more patients will benefit from the power of precise cutting and controlled coagulation, leading to better clinical outcomes in an outpatient setting."

Creo Medical's shares were up 5.53% at 210.00p at 1032 BST.

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