OxySure® Systems, a medical device innovator of life-saving, easy-to-use emergency oxygen solutions with its “oxygen from powder” technology, has announced the company has signed a distribution contract with Ajad Medical to be the company’s exclusive distributor in the Kingdom of Saudi Arabia.
The contract has a minimum contract value of $2.46m and requires a minimum purchase of 18,000 units of the company’s portable emergency oxygen system (Model 615) and replacement cartridges over three years to maintain exclusivity.
As one if its key initiatives, Ajad Medical intends to deploy OxySure as a safety and resuscitation solution for the massive annual pilgrimage to the city of Mecca, called the Hajj. Attendance of the 12-day religious ceremony has grown dramatically and is expected to comprise approximately four million pilgrims in 2014.
The growing number of pilgrims poses a logistics challenge for the Saudi government who has, since the 1950s, spent more than $100bn to enhance pilgrimage facilities and safety.
Julian Ross, CEO of OxySure, stated, “We first met the management of Ajad Medical at the Medica conference in Dusseldorf, Germany in November 2013. Since then, we have come a long way in our negotiations, and we are pleased to now welcome Ajad Medical to our growing list of global distribution partners. We look forward to working with Ajad’s management to deploy OxySure in their various vertical markets, including as an emergency solution for the millions of pilgrims that visit Saudi Arabia each year.”
The OxySure Model 615 is a pioneering technology that is defining a new market with no direct competition. Protected by a robust patent portfolio, the company’s Model 615 targets enormous end markets that are at least as large as the install base for automated external defibrillators, which exceeds two million units, and potentially as large as the fire extinguisher base, which exceeds 100 million units in the US and more than 500 million units globally.