BioCore Inc. Signs Agreement with Osprey Medical, Inc
November 25, 2020 at 04:23 pm EST
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Osprey Medical Inc. announced that it has signed an Independent Sales Agency (ISA) agreement with BioCore Inc. Under the agreement, BioCore's sales reps will be strategically deployed across 8 new states in the US in regions which are currently outside of Osprey's existing direct salesforce coverage. The addition of the ISAs forms part of Osprey's broader vision to increase its geographic coverage whilst at the same time focus on maintaining a leaner business model following COVID-19. The strategy provides Osprey with a dual-pronged sales approach across the US, via both distributors and direct sales reps and the agreement has been structured to leverage the key advantages of both the distributor and direct sales strategy. Practically, Osprey's direct sales reps will continue to focus on the regions in which they operate, however they will also work closely with the ISAs to help convert potential customers in new regions. Under the agreement Osprey will ship to and invoice hospitals in the ISA's area and pay commissions to the ISA based on total revenues. The agreement is for a 2-year term with escalating quarterly sales targets. Osprey is in active discussions with a number of ISAs at this stage and hopes to continue to expand its geographic coverage in the near-term.
Invites Biocore Co Ltd, formerly BioCore Co Ltd, is a Korea-based company mainly engaged in the provision of medical examination services. The Company operates its business through two segments. The New Drug Development Business segment is involved in the provision of bioequivalence testing, drug in vivo kinetics research, drug analysis in biological samples, toxicity kinetics testing, microanalysis in pharmaceuticals, comparative dissolution testing, and clinical trial consulting. The Biotechnology Business segment is engaged in the provision of customized genome analysis services and the manufacture and sale of diagnostic kits. The Companyâs products are sold under the brand of Bio-Core.