MML enters into new supply agreement with Uruguay’s CCC
January 16, 2017Mainstay Medical International’s subsidiary Mainstay Medical Limited (MML) has made a new supply deal with Centro de Construccion de Cardioestimuladores del Uruguay S.A. (CCC).
The agreement will come in effect in January 2017 and will update and replace the engineering agreement, which has been in place for seven years. The new agreement says that CCC will continue to produce the implantable pulse generator and certain accompanying technology, including software for MML’s ReActiv8 system as exclusive supplier, a nerve-based system for treating Chronic Low Back Pain.
The material terms of the supply agreement include MML’s requirement to reach a certain milestone with buying the products by the end of each calendar year of the deal, or pay CCC a fixed fee.
Mainstay further said that MML will indemnify CCC against various third party claims, including claims arising out of MML’s negligence, fault or wrongful conduct.
The new agreement will stay in force for at least two years, and could be renewed.
