LAVAL, QC, Aug. 8, 2012 /CNW Telbec/ - Ergoresearch (TSX VENTURE:ERG), the leading developer and manufacturer of specialty orthotics in Quebec, announced today the signing of a distribution agreement with Proteor, France's leading orthotics firm, for the purchase and distribution of components patented worldwide. The contract provides exclusive distribution rights across Canada.
These components are used to manufacture and fine tune new devices dedicated to the orthopedics market, and more specifically to the musculoskeletal system. Results from studies conducted in Europe and Japan are conclusive as to the efficacy of the said components, and Ergoresearch is committed to deploying every effort leading up to an eventual product marketing, details of which have not yet been divulged.
"This agreement fits perfectly into the firm's strategic plan, given its intention to invest heavily in the development of these components and in their clinical validation, which have met every aspect of our firm's quality and reliability standards so far," explains Ergoresearch's president and CEO, Sylvain Boucher.
For Michel Pierron, president of Groupe Proteor, "this agreement represents a very promising edge on the eventual breakthrough we expect this product will have on the North-American market. The quality of this innovative device and the merit of its clinical validations have far surpassed our expectations and when associated with the competence of Ergoresearch's teams of clinicians, it can only provide our patients with relief, and extra comfort in their daily life."
Since 2005, Ergoresearch has developed Quebec's leading network of orthotics clinics, with over 60 corporate and satellite centres under the Clinique du Pied Équilibre and Orthoconcept banners. The leading manufacturer of 'intelligent' foot orthotics and specialty orthotics, it is a trend-setter in creating durable medical equipment and software for the orthopedics market. Ergoresearch was the first to develop and market an autocorrecting podo-barometric pad that relies on two distinct software programs to ensure the quality and performance of the orthotics that it produces.
The company is involved in a number of research projects with institutions such as Université Laval and Collège Mérici's Centre de solutions technologiques en orthèses et prothèses (CSTOP), in Quebec City. Ergoresearch Ltd is listed on the Toronto Stock Exchange (TSX-V) under the TSX-V Symbol: ERG.
Groupe Proteor was founded in Burgundy (Bourgogne, FR) almost 100 years ago. First specializing in providing prosthesis to the handicapped, Proteor rapidly spread its activities to designing the components required for manufacturing the actual devices. Groupe Proteor listens carefully to the professionals from this milieu, and to individuals whom life has partially deprived of their autonomy and wellness. In full respect of these values, it now develops a full range of products and services in France and around the globe, destined to compensate for physical handicaps, be it temporary or permanent.
Today it has become an independent family group, owned and operated by several generations of Pierrons. Thanks to major investments in innovation, an unwavering commitment to improve its services and backed by strong medical, scientific and commercial partnerships policies, Proteor has affirmed itself as the French leader in external orthopedics, and a recognized actor on the world stage.
Certain statements in this Press Release contain forward-looking statements and information that may entail certain risks related to uncertainties. Such statements are based on management's expectations and no assurance can be given that potential future results or circumstances described in the forward looking statements will be achieved or will occur. Such risks factors include, but are not limited to, those related to the Corporation's ability to finance its activities, competition, ability to negociate and maintain partnerships, the market acceptance of the said product, fluctuations in operating results, the impact of general economics, industry and market conditions, the ability to recruit and retain qualified employees, the success of research and development programs, fluctuations in cash flow, expectations regarding market demand for particular products, the strength of intellectual property, market dependence on new product development, the trust invested in sub-contractors or their core personnel, as well as other documents containing risks and uncertainties which are put forth every now and then by the firm to various Canadian securities and exchange commissions and made available at www.sedar.com.
The reader should not give great importance to forward-looking statements as (i) the results may differ from conclusions, predictions or projections contained in such forward-looking statements; and (ii) certain important factors or hypothesis taken into account in reaching conclusions or the preparation of a projection or prediction may prove to be incorrect in fact.
Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Ergoresearch Ltd
For further information:
President and CEO, Ergoresearch Ltd
450-973-6700, x 213
Isabelle Vallee, Director
Communications and Public Relations, Ergoresearch Ltd
450-973-6700, x 233