This strategy is based on the prudent expansion of our commercial footprint outside the U.S. by securing the requisite product registrations for our Helium Plasma Technology products, and identifying strong distribution partners in each respective market.
Apyx Medical Corporation (NASDAQ:APYX) (the “Company”), a maker of medical devices and supplies and the developer of Helium Plasma Technology, marketed and sold as Renuvion® in the cosmetic surgery market and J-Plasma® in the hospital surgical market, today announced that the Company has obtained regulatory approval to market and sell its Helium Plasma Technology products in five new countries: Australia, Brazil, Israel, Taiwan and Thailand. The Company has contracted with distributors to market and sell its products in each country.
“We are very pleased to obtain regulatory approvals to market and sell our Helium Plasma Technology products in these five new countries.” said Charlie Goodwin, President and Chief Executive Officer. “We have been focused on pursuing regulatory clearances in international markets as one of our key strategic priorities to enhance Apyx Medical’s long-term growth profile. This strategy is based on the prudent expansion of our commercial footprint outside the U.S. by securing the requisite product registrations for our Helium Plasma Technology products, and identifying strong distribution partners in each respective market. While we expect each of these new countries to contribute to our growth profile in the coming years, we are especially excited by the growth opportunity we have in Brazil, which is estimated to be the second largest cosmetic surgery market in the world1 in terms of both the total number of procedures performed and the number of surgeons. We shipped an initial commercial order to our distributor in Brazil in late-June and we expect to ship our initial commercial orders to each of the other new countries over the second half of 2020.”