Universal Biosensors Secures Henry Schein as US Distributor for Xprecia Prime
UBI (UBI) Share Update November 2024 Thursday 7th
Universal Biosensors Partners with Henry Schein for Xprecia Prime US Distribution
Universal Biosensors, Inc. (ASX: UBI) has announced a significant partnership with Henry Schein, Inc., marking a pivotal step in the distribution of its Xprecia Prime coagulation analyzer in the United States.
Instant Summary:
- Universal Biosensors partners with Henry Schein for US distribution.
- Henry Schein is a leading distributor of medical products in the USA.
- The agreement is non-exclusive with an initial term of 1 year.
- Xprecia Prime is a portable device for monitoring anticoagulant dosage.
Partnership Announcement
Universal Biosensors, Inc. has signed Henry Schein, Inc. as its first major distribution partner in the United States for its Xprecia Prime coagulation analyzer. Henry Schein is one of the largest distributors of medical products in the USA, known for its extensive network and influence in the healthcare sector.
The agreement allows Henry Schein to distribute the Xprecia Prime on a non-exclusive basis for an initial term of one year, with the possibility of annual extensions by mutual agreement. This partnership is expected to enhance the availability of Xprecia Prime in thousands of coagulation clinics and hospitals across the USA.
Product Overview
The Xprecia Prime is a second-generation coagulation monitoring device designed for ease of use and portability. It provides fast and reliable prothrombin time (PT) results, crucial for monitoring the dosage of vitamin K antagonists in patients. Proper dosage is essential to prevent dangerous bleeding events or thrombosis, making the Xprecia Prime a vital tool in patient care.
Globally, millions of patients rely on PT/INR tests to ensure the safe and effective use of anticoagulants, representing a significant market opportunity for Xprecia Prime.
This partnership with Henry Schein is likely to boost Universal Biosensors' market presence in the USA, potentially increasing sales and revenue. By leveraging Henry Schein's extensive distribution network, Universal Biosensors can effectively reach a larger customer base. This move could positively impact the company's stock as investors anticipate growth in the US market.
Investor Reaction:
Analysts are optimistic about the partnership, viewing it as a strategic move to enhance market penetration in the USA. The collaboration with a reputable distributor like Henry Schein is expected to bolster investor confidence in Universal Biosensors' growth prospects.
Conclusion:
Investors should watch for the first sales of Xprecia Prime in the coming weeks, as this partnership could signal a significant revenue stream for Universal Biosensors. The company's ongoing efforts to secure additional distribution deals further highlight its commitment to expanding its market reach.