Wound Management Technologies, Inc. is an emerging commercial stage company with headquarters in Fort Worth, Texas. The Company’s primary products target the $5B global advanced wound care market. Wound Management’s primary focus is the distribution of their unique, patented collagen product, CellerateRX®. This product is FDA cleared and reimbursable under Medicare Part B.
The Company has other advanced biotech products in development. This includes a patented resorbable bone wax line in late stages of development, and a subsidiary focused on technology for secure healthcare data collaboration and storage.
Wound Management Technologies’ CellerateRX® is available in powder (95 percent collagen) and gel (65 percent) forms that don’t require special handling (for example refrigeration). CellerateRX® is active in all four phases of wound healing. CellerateRX®’s activated collagen (approximately 1/100th the size of native collagen) delivers the essential benefits of collagen to a wound immediately. Other forms of native, intact collagen in commercially available products require time for the body to prepare the collagen for use in the wound healing process.
Wound Care Innovations, LLC (WCI), is a wholly owned subsidiary of Wound Management Technologies, Inc. WCI has the exclusive worldwide licensing and distribution rights for CellerateRX® advanced wound care collagen products.
Wound Management Technologies’ Secure eHealth, LLC subsidiary is a secure messaging and data delivery solutions provider for the public/private and government healthcare sector. Their mission is to promote collaborative healthcare delivery through creating platforms where healthcare practitioners, ancillary providers, medical facilities and patients can freely share information safely and securely.
Last week, Wound Management Technologies, Inc., announced that Pharma Tech International (PTI), a joint venture of their subsidiary BioPharma Management Technologies, signed an annual $500,000 minimum sales agreement with Cure Hands, a company of international trade based in Saudi Arabia. Pharma Tech International, the exclusive distributor of CellerateRX® in certain countries throughout the Middle East and Northern Africa, grants Cure Hands the exclusive rights of sales and distribution for CellerateRX® in Saudi Arabia.
Wound Management Technologies, Inc. also recently announced financial results for their first quarter of 2011. For the three-month period ending March 31, 2011, revenue totaled $935,412, a 1,303 percent increase over first quarter 2010 net revenue of $66,960. Gross profit rose 1,717 percent to $840,994 versus $46,293.
Mr. Scott Haire, Wound Management Technologies, Inc. CEO, commented, “We are very pleased with our first quarter results as well as with the Company’s outlook. During the first quarter, Wound Management achieved several key milestones: a record high in quarterly revenues equal to roughly all of the Company’s 2010 revenues, a significantly improved balance sheet, our first positive cash flow from operations, and the completion of financing that left the company with more than $1M in cash.”
Mr. Haire continued, “The Company is executing extremely well. We expect revenues to continue to increase throughout the remainder of 2011 driven primarily by sales from our existing distributors as well as the opening of new markets for CellerateRx® worldwide.”