BRASTER has signed an early market entry cooperation agreement with the first foreign distributor
The producer of a unique device for breast self-examination signed an agreement, under which it is going to start selling the Braster System in the first foreign market – in Ireland. The first stage will comprise a technical and professional pilot project to be conducted with a renowned partner – the Promed (www.promed.ie) company, which is going to allow the Company to test certain technical and operational issues. The gained experience will be used to prepare for an expansion to other markets. In the upcoming weeks, the Company is going to launch subsequent pilot projects in the Netherlands and Portugal.
Ireland is the first foreign market where the Braster System is going to debut. The distribution in Ireland is going to start in the 4th quarter of 2017. Before starting the sales, the device and the telemedicine system will have been tested by physicians and by the potential consumers selected by a distributor. The partner, with whom BRASTER has signed an agreement, is the Promed company – a leading distributor of medical and dental equipment, established in 1985, cooperating with over 4,000 healthcare units in Ireland.
The device is going to start being sold in the Irish market no later than in October 2017. The Company and the distributor are awaiting the sales at the level of ca. 10,000 devices within three years.
In the foreseeable future, the Company is planning to enter even more markets.
"Immediately after the pilot project starts in Ireland, we are planning to launch further pilot implementations of the Braster System in the Netherlands and Portugal. In all the cases, our objective is going to be to test the IT, logistics and sales solutions and to develop the awareness among physicians in the respective markets. The point is not only to sell products in those states, but also to gain experience in order to minimize the risk of occurrence of potential problems in the largest, strategic foreign markets where we are planning to appear in the upcoming months." – says Marcin Halicki, President of the Management Board of BRASTER S.A.
Apart from the first three markets, until the end of this year BRASTER is planning to start sales in Great Britain and the United Arab Emirates, and technical pilot projects in Canada, Brazil and China. Before starting the sales in Japan, there will be a medical pilot project conducted, planned to be launched at the turn of the 3rd and 4th quarter. The Company submitted an application to the Food and Drug Administration (FDA) for marketing the device in the USA. The application was assessed positively in formal terms, and BRASTER is hoping that a positive decision will be made as early as this year, so as to be able to start the activities aimed at entering that market, characterized by the largest potential.
The Company is planning to enter more markets (Germany, Japan, Korea) in 2018.
Another strategic objective of the Company is to develop a global telemedicine platform. BRASTER would like to offer unique solutions, in the international arena, for two groups of recipients: B2B – by making an advanced telemedicine platform available to other producers of devices or companies offering medical and healthcare services – and B2C – by allowing patients to use online services and medical advice. The vision will be executed through an organic development of the Company and through potential acquisitions.
BRASTER is planning to obtain funds from stock issue to execute its strategy. The financial needs (including the cost of debuting on the indicated foreign markets, potential acquisitions associated with the potential creation of a telemedicine platform and the current needs of the Company) are specified at PLN 60-70 million.
About the Braster System
Braster® is the first system in the world to help women test their breasts for the purpose of detecting malignant tumours. The solution is based on a unique liquid crystal matrix – patented by the BRASTER Company – and a Telemedicine Centre where the research results are analysed. The system uses contact thermography for developing the images of temperature distribution of breasts. In the thermograms, the lesions suspected of being neoplastic are visible as colourful areas different from the healthy areas in intensity and morphology. This is because, in the growth process, malignant neoplastic lesions develop a dense network of blood vessels (neoangiogenesis) that feeds the tumour. It is accompanied by increased emission of energy and higher temperature. These areas of increased temperature in the breast gland are registered by Braster®. With the use of artificial intelligence algorithms making up the system of automatic interpretation of the thermographic images, it is detected whether the neoplastic lesions are malignant.