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Corin Group PLC (CRG)

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Thursday 28 June, 2012

Corin Group PLC

LARS distribution agreement extended

RNS Number : 3963G
Corin Group PLC
28 June 2012
 



28 June 2012

 

Corin Group PLC 

 

LARS distribution agreement extended

 

Corin Group PLC (LSE: CRG, "Corin" or "the Group"), a leading manufacturer and supplier of orthopaedic devices, has reached an agreement with LARS SA, the manufacturer of the LARS ligament products which Corin distributes in the UK and Australia, to extend this distribution agreement by three years until December 2016. 

 

Corin has also obtained exclusive distribution rights to the LARS ligament range in several additional countries, the most significant of which is the USA.  Corin will, under the terms of this agreement, seek to obtain regulatory approval of LARS in the USA.  This will initially be by way of submission of a 510k approval application for various extra-articular LARS ligaments. 

 

As previously reported, the Prosthesis List Advisory Committee (PLAC), the relevant reimbursement body in Australia, is conducting a review of all artificial ligaments included in their list of reimbursed products for private health insured cases, including LARS ligaments. While this review has not concluded, Corin has been advised that the review has decided not to alter the reimbursement of LARS ligaments in Australia for at least the next six monthly reimbursement cycle, which runs until February 2013.

 

Peter Huntley, Corin's Chief Executive, commented

 

"We are delighted to have extended our agreement with LARS and also to have obtained distribution rights in the USA - by some distance the world's largest potential market for devices of this type."

 

Enquiries:

 

Corin Group PLC

 

Peter Huntley, Chief Executive

 

 01285 659 866

 

 

College Hill

 

Adrian Duffield/Rozi Morris

020 7457 2020

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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