SomnoMed takes over Italian Distribution

THE ROADHOUSE PHARMACY: SomnoMed Limited (ASX: SOM) has signed agreements with its Italian service and distribution partner, taking over control of the marketing and distribution of its products in Italy from 1st September 2014.

The company has distributed its products through a third party in Italy for the past five years and is now is now establishing its own marketing and sales operation in the country.

The company explained this latest move to be the final step in the process of taking control and building its own marketing and sales organisation in all Western European markets.

Over the last two years SomnoMed has acquired associated businesses in the Netherlands, Sweden, France and Germany and expanded the operation of these organisations in 2013 into Norway, Denmark and Belgium.

Over the last six months SomnoMed has entered into agreements with national service partners and was expanding into Finland, UK, Republic of Ireland, Spain and Portugal.

“SomnoMed has a close and longstanding relationship with SSSleep lab di Martinez Ortodonzia (“SSG”) in Italy, a leading orthodontic laboratory specialised in the dental sleep area,” SomnoMed executive chairman Dr. Peter Neustadt said in the company’s announcement to the Australian Securities Exchange.

“In line with our European strategy it was important that we will be able to build our own marketing and distribution organisation and Italy is the third largest country in Europe.

“A search for an Italian sales manager is underway and we expect to hit the ground running by the first of September when we officially take control of marketing and sales in Italy.”

Website: www.somnomed.com.au