Ozop Surgical Corp. Announces an Update to the Exclusive License Agreement with Spinal Resources Inc. for Spinal Implants
Revenue ramp-up underway with pathway to operating profit
WEST PALM BEACH, FL, Oct. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ozop Surgical Corp. (OTCQB: OZSC), a provider of premium surgical devices in the rapidly growing field of minimally invasive spine surgery (“Ozop” or the “Company”), today released the following corporate update on its recent progress and current developments. Ozop believes the license agreement with Spinal Resources, Inc. is exceeding Company expectations.
Some of the specific developments include:
· 3 new surgeons currently using its licensed products, with 2 more expected to schedule cases before year end.
· 2 new Distributors in the contract finalization stage, ramp up expected to start by year end.
· 3 hospital contracts, including one national agreement, in the finalization stage. Cases starting upon approval possibly as soon as December.
· 3 new product introductions, the first, a proprietary MIS system before the end of year.
· First member of its surgeon advisory board has joined, more updates to follow.
Michael Chermak, Chief Executive Officer of OZOP, commented, “Our primary objective is to achieve operational profitability at the earliest moment possible. Our path to this goal will be accomplished by a combination of maximizing current sales opportunities and reducing overhead wherever possible, and investing in inventory and product development to support our growing sales pipeline.”
About Ozop Surgical Corp.
Ozop Surgical, Corp. (www.ozopsurgical.com) invents, designs, develops, manufactures and distributes innovative endoscopic instruments, surgical implants, instrumentation, devices and related technologies, focused on spine, neurological and pain management procedures and specialties. Our focus is on economically disrupting the market with clinically equivalent or superior existing and new products resulting in immediate and significant savings for providers, payors and consumers. For more information please visit www.ozopsurgical.com.
Safe Harbor Statement
“This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company’s control). The company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.”
MZ Group – MZ North America
Released October 16, 2019