The exclusive License Agreement allows Ozop to sell SRI’s Swedge (patented, FDA approved pedicle screw system) technology and patent pending transition rod which has been shown to reduce contact pressure and stress shielding in the spine along with a unique pathway into the deformity market. OZOP will also gain access to a full product portfolio including 3D-printed, Peek and Carbon Fiber technology products.OZOP will be able to access the SRI network of distributors and hospital contracts through SRI whereby the OZOP product portfolio can be distributed along SRI branded product, with access to the existing and future distribution base. With its relationships with distributors outside of the SRI network, Ozop immediately plans to be able to add additional sales of SRI product, giving the Company a clear path to operating profit. As Ozop completes their development of their expandable cage in 2020, and other in development products, it would be a natural fit for many of the existing distributors to sell these Ozop products thru the existing SRI contracts as well as new contracts being immediately sought.
An additional benefit is OZOP will be able to reduce planned costs based by utilizing the SRI infrastructure, specifically, mandated FDA quality and inventory control standards and systems.
Bernie Bedor, founder, CEO and sixteen- year veteran of the medical device industry, stated: “This venture aligned with SRI’s philosophy that innovation doesn’t occur in a vacuum, but requires dedication, passionate and inventive engagement. What we have created is a strong demonstration of our commitment to creating a solution necessary for expanding our approach without inflating costs. The medical/device industry will be excited by Ozop’s objectives, and their continued recognition of SRI’s mission which is to support cost-effective patient care with innovative mechanical and biomechanical products.”
Michael Chermak, Chief Executive Officer of OZOP, commented, “This relationship allows us to focus on developing a sustainable revenue strategy while continuing to drive innovation that treats disorders of the spine. The combined efforts will rapidly accelerate the sales efforts already in place through Spinal Resources.”
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