Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

CytoSorbents Expands Distribution to the Vast Middle Eastern Market of Saudi Arabia, United Arab Emirates, and Other GCC Countries with Techno Orbits  Join our daily free Newsletter

MENAFN Press - 10/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) CytoSorbents Corporation (OTCQB: CTSO), a critical care immunotherapy company using blood purification to treat life-threatening illnesses, announced distribution of its CytoSorb extracorporeal cytokine filter in the Middle East, including Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman (the Gulf Cooperation Council or GCC) and Yemen, Iraq, and Jordan through an exclusive agreement with Techno Orbits. This multi-year agreement is subject to annual minimum guaranteed orders of CytoSorb to maintain exclusivity.



Mr. Khalid Rushed Al Fagih, General Manager of Techno Orbits commented, "We are very excited to introduce CytoSorb to the Middle East, an innovative and potentially breakthrough technology that is already saving lives in other parts of the world. Discussions with critical care physicians in Saudi and neighboring countries has been very positive, with initial interest in the therapy for many conditions, including the treatment of sepsis, traumatic injury, severe lung inflammation, and even for the rare but deadly MERS coronavirus infection that has no treatment. Together with CytoSorbents, we look forward to revolutionizing the management of critically-ill patients in the Middle East."



Dr. Phillip Chan, CEO of CytoSorbents Corporation stated, "We are delighted to be working with Techno Orbits, an experienced and successful critical care distributor in the Middle East. Techno Orbits has established the hospital markets for a number of innovative medical devices throughout the GCC region and related states, and is well-positioned to do the same with CytoSorb. With product registration, the number of countries where CytoSorb is being sold will have doubled to eighteen."



Dr. Humayra Ali, Senior Manager of Business Development and External Scientific Affairs continued, "The Middle East, and particularly the GCC, represents a substantial opportunity for CytoSorbents. The region's growing population, the provision of universal healthcare for its citizens, strong government finances, and interest in new, innovative medical technologies, makes this an excellent market to target. Techno Orbits maintains a significant network of critical care physicians and thought leaders that can be leveraged for CytoSorb. We are very pleased to have formed this important alliance with them."



The GCC spends approximately 35 billion annually on healthcare and offers universal healthcare coverage to its citizens, with roughly 70% coming from the governments and Ministries of Health of each country, and the rest from private sources. There are approximately 630 public and private hospitals in the GCC, serving an estimated population of 45 million people. Healthcare standards and investments in healthcare infrastructure continue to increase to meet the needs of the growing population that face chronic illnesses such as diabetes and obesity, major risk factors for future hospitalization and critical illness. Today, the emerging medical device market in the GCC is approximately 2 billion.



Although Yemen, Iraq and Jordan are not currently in the GCC, they also represent large markets. More than 500 hospitals serve an estimated 62 million people in these countries. In total, this distribution agreement covers a market of more than 100 million people.



CytoSorb is the only specifically approved extracorporeal cytokine filter approved for sale in all 28 countries of the European Union and in countries that accept CE Mark approval. It is currently being sold directly in Germany, Austria and Switzerland, with expanding distribution in the United Kingdom, Ireland, the Netherlands, Turkey, India, Russia, Kingdom of Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Qatar, Yemen, Iraq, Jordan and Oman.


About Techno Orbits
Techno Orbits is an established supplier of medical equipment and disposables to hospitals and healthcare institutions in the Middle East. Headquartered in Riyadh, Saudi Arabia, Techno Orbits focuses on products targeting the intensive care unit, emergency medicine and anesthesiology. Its vision is to supply high quality, innovative, easy to use, and dependable health care technologies that maximize the performance of health care services. For more information, please visit www.medicalorbits.com. About CytoSorbents CytoSorbents Corporation is a critical care focused immunotherapy company using blood purification to modulate inflammation -- with the goal of preventing or treating multiple organ failure in life-threatening illnesses. Organ failure is the cause of nearly half of all deaths in the intensive care unit, with little to improve clinical outcome. CytoSorb, the Company's flagship product, is approved in the European Union as a safe and effective extracorporeal cytokine filter, designed to reduce the "cytokine storm" that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. These are conditions where the risk of death is extremely high, yet no effective treatments exist. CytoSorbents' purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. CytoSorbents has numerous products under development based upon this unique blood purification technology, protected by 32 issued U.S. patents and multiple applications pending, including HemoDefendÔÇ×, ContrastSorb, DrugSorb, and others. Additional information is available for download on the Company's website: http://www.cytosorbents.com/

 


MENAFN Press




  MENA News Headlines
 Dec 20 2014 - Etihad has no further A380 orders, Boeing 787 delayedMENAFN
(MENAFN) Etihad Airways is not interested in ordering any more Airbus A380s, while the launch of its first Boeing 787-9 Dreamliner into service has been delayed, Gulf News reported.The Dreamliner ...

 Dec 20 2014 - Saudi rail expansion contributes to domestic tourismMENAFN
(MENAFN) Saudi Railways Organization (SRO) President has lauded the efforts of Saudi Commission for Tourism and Antiquities (SCTA) in developing the tourism sector and preserving national heritage, ...

 Dec 20 2014 - Tunisia, Germany sign USD55.21m loan agreementMENAFN
(MENAFN) Tunisia and Germany have signed a loan agreement worth USD55.21 million for the modernization of more than 300 educational institutions in the different regions of the country, QNA ...

 Dec 20 2014 - Qatar- Magnificent Mirza wins stage 2The Peninsula
(MENAFN - The Peninsula) Overnight leader Azzedine Lagab yesterday retained his position at the Tour of Zubarah where defending champion Yusif Mirza of the UAE produced a late burst to win stage ...

 Dec 20 2014 - Aishwarya to make comeback with JazbaaKhaleej Times
(MENAFN - Khaleej Times) Jazbaa is a contemporary thriller set in modern-day Mumbai. Los Angeles - Former Miss World and popular Bollywood actress Aishwarya Rai Bachchan will make her comeback with ...

 Dec 20 2014 - UAE- Srikanth looks to change strategy for next two tiesKhaleej Times
(MENAFN - Khaleej Times) Indian star Kidambi Srikanth set to play Sugiarto and Jorgensen in Dubai event.Kidambi Srikanth faltered in the first set but made a strong comeback against Kento Momoto on ...

 Dec 20 2014 - UAE- Aussie rookie makes an early impactKhaleej Times
(MENAFN - Khaleej Times) Cannon makes statement for Mena Golf Tour with a steady performance at the Dubai Open. Chris Cannon was playing for the first time in an asian tour event Dubai — An ...

 Dec 20 2014 - UAE- Chen and Saina cruiseKhaleej Times
(MENAFN - Khaleej Times) South Koreas Bae shocks Chinese No.Saina Nehwal of India in action against Sung Ji Hyun of South Korea at the BWF Destination Dubai World Superseries Finals on Thursday. ...

 Dec 20 2014 - UAE- Teary-eyed for 132 dreams lostKhaleej Times
(MENAFN - Khaleej Times) Pak ambassador condemns Taleban for using Islams cover to justify massacre Abu Dhabi: The Pakistani community in Abu Dhabi gathered at the embassy on Thursday morning to ...

 Dec 20 2014 - IT teacher steals students iPad sells it onlineKhaleej Times
(MENAFN - Khaleej Times) The teachers theft was allegedly busted after she posted an advertisement on a popular website to sell the iPad. Dubai: An Information Technology (IT) teacher is standing ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help