Arch Therapeutics Partners with Lovell Government Services to Expand Distribution Capabilities
Excerpt from the Press Release:
Arch Therapeutics, Inc. (OTCQB: ARTH) (“Arch” or the “Company”), a marketer and developer of novel self-assembling wound care and biosurgical devices, today announced that it has entered into a non-exclusive distribution agreement with Lovell Government Services (“LGS”), a Service-Disabled Veteran-Owned Small Business (“SDVOSB”), to support and drive sales through the Veteran’s Affairs hospitals and other governmental medical facilities. The partnership is intended to result in the inclusion of the Company’s AC5® Advanced Wound System on targeted federal supply schedules. Simultaneous with this announcement, the Company and Buffalo Supply, Inc. (“Buffalo Supply”) mutually agreed to terminate the existing exclusive distribution agreement entered into last year.
“Partnering with an SDVOSB, especially one with the reputation of LGS, to drive distribution into the government is intended to provide several strategic advantages, most notably speed to market and enhanced access to multiple government contracting channels,” stated Dan Yrigoyen, Vice President of Sales for Arch Therapeutics. “We thank Buffalo Supply for their past support and work done to date. Our new SDVOSB partnership is an exciting next step in our progress, and it represents an important element of our overall commercialization strategy,” concluded Mr. Yrigoyen.
“Lovell is excited to bring the healing power of Arch Therapeutics’ technology to the Veterans and Department of Defense Hospital Systems,” says Chris Lovell, CEO and Founder of Lovell Government Services.
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