Ozop Surgical Corp. Announces an Update to the Exclusive License Agreement with Spinal Resources Inc. for Spinal Implants
Press Release | 10/16/2019
Revenue ramp-up underway with pathway to operating profit
WEST PALM BEACH, FL, Oct. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ozop Surgical Corp. (OTCQB: OZSC), a provider of premium surgical devices in the rapidly growing field of minimally invasive spine surgery (“Ozop” or the “Company”), today released the following corporate update on its recent progress and current developments. Ozop believes the license agreement with Spinal Resources, Inc. is exceeding Company expectations.
Some of the specific developments include:
· 3 new surgeons currently using its licensed products, with 2 more expected to schedule cases before year end.
· 2 new Distributors in the contract finalization stage, ramp up expected to start by year end.
· 3 hospital contracts, including one national agreement, in the finalization stage. Cases starting upon approval possibly as soon as December.
· 3 new product introductions, the first, a proprietary MIS system before the end of year.
· First member of its surgeon advisory board has joined, more updates to follow.
Michael Chermak, Chief Executive Officer of OZOP, commented, “Our primary objective is to achieve operational profitability at the earliest moment possible. Our path to this goal will be accomplished by a combination of maximizing current sales opportunities and reducing overhead wherever possible, and investing in inventory and product development to support our growing sales pipeline.”
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