- Salona Global Medical Device Corporation (SGMD) has expanded its product line distributing the Hyperice products and delivered 600 units for its Mio-Guard
- Salona Global is a medical device company supporting the injury and surgery recovery market
- Mio-Guard is a reusable electrode and Hyperice is a line of handheld massage devices
- The company is continuing to expand its sales distribution with these most recent products and expects the sales to reflect in the current quarter’s revenue
- It was able to produce and sell Mio-Guard in a short period of time which the company believes is a marker for its profitability
- Salona Global Medical Device Corporation (SGMD) is unchanged trading at $0.69 per share as of 2:26 p.m. ET
Salona Global (SGMD) has signed an agreement to distribute the Hyperice suite of products and delivered 600 units of its newly launched Mio-Guard.
Salona Global is a medical device company supporting the global injury and surgery recovery market.
Mio-Guard is a reusable electrode based on previously acquired intellectual property. The Hyperice line includes high-frequency handheld massage technology to relieve muscle pain, tension, and soreness from patients recovering from injuries, with prices ranging from $50 to $500.
The company stated it is continuing to expand its sales distribution with these most recent products and expects the sales to reflect in the current quarter’s revenue.
“We continue to find methods to drive revenue growth by expanding the products we offer to patients, athletic trainers, and physical therapists, bringing more momentum to our newly listed and growing company,” said Les Cross, CEO and chairman of Salona Global’s board.
Once Salona Global acquired the intellectual property tied to Mio-Guard, the production process took less than two months. The electrode margins are supposedly consistent with Salona Global’s existing supply chain business.
“This is exactly the advantage of vertical integration that has been a key to our strategy… We believe we can replicate this success many times,” Cross said.
The Mio-Guard® line distributes over 400 products to athletic trainers and physical therapists in over 30 U.S. states. According to the company, the global medical electrode market is projected to reach over US$1.7 billion by 2028.
Salona Global Medical Device Corporation (SGMD) is unchanged trading at $0.69 per share as of 2:26 p.m. ET.
