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The agreement specifies exclusivity for the products for the institutional / healthcare market and includes an adult incontinence cream, skin barrier cream and super moisturizer. The agreement specifies upfront license fees for the territories of Europe and China and milestone payments based on approvals and launch dates for the United States. In addition, Skinvisible will receive royalties on sales of the products. RHEI will be responsible for regulatory filings, manufacturing and commercialization of the products.
RHEI will leverage its affiliate BeoCare Group, a leading medical consumables manufacturer with facilities in the United States, Europe and China, to provide access to the institutional / healthcare markets through its established network of multi-national clients. Additionally, RHEI will also sell to its affiliate, Senior Assist NV, one of the largest assisted living providers in Belgium, with a chain of thirty-three seniors' homes.
"We are excited about this important licensing agreement with RHEI as they are in a prime position to capture significant market share and revenue from these products," said Terry Howlett, President and CEO of Skinvisible. "The annual institutional spending on incontinence products in the United States alone reaches $32+ million. RHEI is in an
ideal position to penetrate this market with their regulatory and commercialization experience and established client list."
"There is a growing need for more efficacious products to treat adult incontinence and skincare for the elderly," said Peter Vanderbruggen, Managing Director, Leeward Ventures SICAR SCA and President, BeoCare Group. "Skinvisible brings us innovative products that can be leveraged by the three healthcare-related companies in our portfolio. We are pleased to collaborate with Skinvisible on the commercialization of
these products, which represents a significant expansion of our current medical product lines."
RHEI will leverage its affiliate BeoCare Group, a leading medical consumables manufacturer with facilities in the United States, Europe and China, to provide access to the institutional / healthcare markets through its established network of multi-national clients. Additionally, RHEI will also sell to its affiliate, Senior Assist NV, one of the largest assisted living providers in Belgium, with a chain of thirty-three seniors' homes.
"We are excited about this important licensing agreement with RHEI as they are in a prime position to capture significant market share and revenue from these products," said Terry Howlett, President and CEO of Skinvisible. "The annual institutional spending on incontinence products in the United States alone reaches $32+ million. RHEI is in an
ideal position to penetrate this market with their regulatory and commercialization experience and established client list."
"There is a growing need for more efficacious products to treat adult incontinence and skincare for the elderly," said Peter Vanderbruggen, Managing Director, Leeward Ventures SICAR SCA and President, BeoCare Group. "Skinvisible brings us innovative products that can be leveraged by the three healthcare-related companies in our portfolio. We are pleased to collaborate with Skinvisible on the commercialization of
these products, which represents a significant expansion of our current medical product lines."
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