SurgLine International Inc. (PINK: SGLN), distributor of high quality FDA approved medical and surgical products at discount prices, has entered into a major supply agreement.
Thomas Toland, CEO of SurgLine, signed an agreement with MedNPV LLC under which SGLN will supply its low cost spinal orthopedic implants. MedNPV is a well-established management company and surgical group operator with business throughout the state of California.
Toland said that he is pleased SGLN will be working with MedNPV to replace a competitor’s higher cost product offering with lower priced offering for spinal orthopedic implants. Toland noted that together, the two companies are focused on delivering more value for end users with excellent quality products with lower costs. Toland expects the agreement, which has a term of three years, to generate $100,000 in monthly sales. The sales estimate is based on the current mix of surgeries at MedNPV.
Toland believes that the supply agreement with MedNPV underscores the fact that SurgLine is progressing in its business plan and making significant strides in its market penetration.
SurgLine shares are down sharply in trading today even as the company continues to make progress. At last check, the stock was trading 8.33% lower at $0.0011 on volume of 15.73 million. Despite today’s losses, SGLN is still up more than 33% in the last three trading sessions.