Q-Med will eventually be responsible for the marketing, advertising, promotion, sale and distribution of Palomar’s professional products for aesthetic treatments outside North America. In addition, Palomar and Q-Med will collaborate on marketing campaigns, as well as arranging clinical symposiums, consensus meetings and advisory boards.
The companies intend that Q-Med will be an exclusive distributor in a major portion of Europe by the end of 2008 and a large portion of the rest of the world (excluding North America) by the end of 2009. The transition from Palomar’s existing distributors to Q-Med shall be on a country-by-country basis as the companies agree on the terms of each transition. Palomar and Q- Med plan to work with each of Palomar’s current distributors to determine how each distributor might successfully work together with Q-Med during and after each country is transitioned.
Bengt Agerup, CEO of Q-Med, said: “This agreement represents a major opportunity to provide our customers with leading light- based anti-aging and hair-removal products.”