Medovex Corporation Initiates Forward Integration-Direct Sales Operations Strategy

Medovex Corp., developer of the DenerveX System, a new device designed for enduring relief of Facet Joint Syndrome related to back pain, has formed a direct Medovex sales operation in Germany with a direct sales force. This new sales structure which will allow it to go direct in Germany, a large key market opportunity that has seen strong initial sales interest, and offers great dedicated reimbursement.
 
Dennis Moon, Medovex Executive Vice President, stated, “Initial sales of the DenerveX System in Germany, our most important market outside of the U.S., have been encouraging. While we continue to go narrow and deep, in a very controlled manner, early rollout procedure results have exceeded expectations. Being able to take control of our distribution through our new direct presence is expected to gain us numerous strategic advantages, not limited to better product control, increased selling focus and greater sales force accountability.”
 
The company previously recently announced it had received regulatory approval from the Australian Therapeutic Goods Administration (TGA) for its DenerveX System, allowing Medovex to market the device in Australia, the first country in the Asia Pacific region. Ahead of schedule, this paves the way for entry into an important area globally, Asia Pacific. Australia is a highly regarded market by many in the global medical community for the quality of care and delivery of the latest technology for the treatment of chronic disease such as facet joint pain.
 
The company also announced it had received its first order for the DenerveX System from Australia. Medovex is conducting sales and product training with its Australian distributor.

Recently, the company also provided a 30-day post procedure update on one of the first cases using its DenerveX System. It has also now received a five-week post-procedure update from Dr. Chris Dare on his first patient in the United Kingdom.
 
The first case was conducted on July 15, 2017, and results were assessed via visual analog scale (VAS) at 30 days post-procedure. According to the VAS score, the patient reported a 70 percent reduction in pain. The second patient was recently assessed five weeks post procedure, reporting an 80 percent reduction in pain.
 
Facet Joint Syndrome (FJS), also known as spinal osteoarthritis, spinal arthritis, or facet joint osteoarthritis, is a significant health and economic problem in the United States and other countries throughout the world, affecting millions of people each year. Current treatment options are generally temporary and there is no proven long-lasting option for FJS.
 
The DenerveX System is a highly differentiated technology, according to Medovex. It denervates and removes capsular tissue from the facet joint in one single procedure. Treatment results from the combined effect of a deburring or polishing action and RF ablation treatment on the facet joint. Using this new technique, the slowly rotating burr removes the targeted facet joint synovial membrane and joint surface while the heat ablation destroys tissue and denudes any residual nervous and synovial membrane overlying the joint, removing the end point sensory tissue of the joint.
 
The DenerveX System consists of the DenerveX Kit which contains the DenerveX Device, a single use medical device and the DenerveX Pro-40 Power Generator. DenerveX system has not been approved by the U.S. Food and Drug Administration.
 
Medovex was formed to acquire and develop a diversified portfolio of medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Alpharetta, Ga.-based company’s first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options.