New Distribution Agreements (4237C)

TIDMCTN

RNS Number : 4237C

ClearStream Technologies Group PLC

07 March 2011

For Immediate Release 7 March 2011

ClearStream Technologies Group plc

Expansion of Global Distributor Network for Coronary and Peripheral Portfolios:

New Distributors appointed in Scandinavia, the Middle East and Asia Pacific;

ClearStream Technologies Group plc ("ClearStream"), the specialist supplier of medical devices used in coronary and peripheral interventional procedures, is pleased to announce that it has recently signed a number of new Distribution Agreements which will significantly enhance its global distribution network. New markets served include Norway, Denmark and Sweden in Scandinavia, Egypt and Iran in the Middle East and Indonesia and The Philippines in the Asia Pacific region.

ClearStream has appointed VingMed Group, based in Oslo, to distribute its range of Peripheral products throughout Norway, Sweden and Denmark which together account for over 15,000 lower limb procedures each year. VingMed has a well established sales infrastructure, supplying medical devices across each of these key Scandinavian markets.

In the Middle East, EgyptCare, based in Cairo and AGP in Teheran have been appointed for the distribution of both coronary and peripheral product portfolios across the two largest markets in the region, Egypt and Iran, whilst in Asia Pacific, Mulya Husada Jaya of Surabaya, Indonesia will also distribute both ranges. In the Philippines, ClearStream has appointed Biodevices Inc. of Manila, which has an extensive sales and marketing infrastructure already well established across the territory.

Commenting on the expanded Distribution Network, ClearStream's CEO Andy Jones said:

"The impact of our new dedicated Distributor Management Team and structure is already in evidence with the addition of these five new distributors in key target markets. Our aggressive market entry plans have already made rapid progress in these strategically important markets.

"We continue to target and develop global markets where diabetes is a widely diagnosed disease state and where the opportunities to grow sales across our product portfolios are significant."

For further information:

 
 ClearStream Technologies Group   Tel: + 353 (0) 53 923 
  plc                              7111 
 Andrew Jones, CEO 
 Winningtons Financial            Tel: + 44 (0) 117 985 
                                   8989 
 Paul Vann 
 FinnCap                          Tel: + 44 (0) 20 7600 
                                   1658 
 Marc Young, Corporate Finance 
  Charlotte Stranner, Corporate 
  Finance 
  Stephen Norcross, Corporate 
  Broking 
 

About ClearStream:

ClearStream, based in Enniscorthy, Co Wexford, Ireland, is an innovative maker of medical devices used in peripheral (lower limb) and coronary interventional procedures, including catheters and stents. Its products are sold under ClearStream's own brands and are also supplied to Original Equipment Manufacturers.

The Company is listed on the AIM market of the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

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