Safe Orthopaedics to expand into Latin America
Safe Orthopaedics recently announced it will expand its operations into Latin America through distribution agreements it has entered into that cover Mexico and Chile, two fast-growing markets.
This is in keeping with its international expansion. The company secured regulatory market approvals in Australia and New Zealand in April, according to a company press release.
Products from Safe Orthopaedics just received marketing approval for the Chilean market and a marketing approval application is now being reviewed in Mexico, and approval is anticipated by Q4 2016, according to the release.
In addition, Safe Orthopaedics has entered into distribution agreements to commence the marketing of its products over the next few months. For example, it has an exclusive distribution agreement in Mexico with Grupo Comercial Zanchet, one of Mexico’s leading distributors in the field.
“These two new distribution agreements provide fresh evidence of our technology’s appeal in emerging markets. Our simultaneous expansion into Mexico and Chile will enable us to start building up our sales operations in Latin America, a region with great potential where the market is estimated to be worth $317 million with a [compound annual growth rate] of 4.7%,” Pierre Dumouchel, Interim CEO of Safe Orthopaedics, said in the release.