A CIT Facility Helps Expand the Market for SANUWAVE's Products
SUWANEE, GA, March 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- SANUWAVE Health, Inc. SNWV, focused on the development and commercialization of a robust and innovative advanced wound care product portfolio for the repair and regeneration of skin and vascular structures, announced today that it has secured customer medical device financing from CIT Business Capital.
"The new partnership with CIT is a great step in bringing our ENERGY FIRST platform to our customers and ultimately the patients that will benefit from our novel treatment of wounds. CIT gives our customers customizable affordable options to finance our technology to fit the needs of individual practices and institutions. For SANUWAVE the partnership enables us to grow the market and recognize revenue very quickly, allowing SANUWAVE to reinvest in our team and technologies. We rolled out the new purchase options to our customers the second week of March and are excited to establish a long-lasting, mutually beneficial relationship with CIT," stated Jack Schlechtweg, Chief Revenue Officer of SANUWAVE Health.
"CIT is excited to be partnering with SANUWAVE to offer low monthly payment options to SANUWAVE customers, making SANUWAVE's products accessible to practices and organizations of all sizes and allowing the products to pay for themselves. CIT is a leading national bank, and CIT's Business Capital division focuses on empowering small-, mid-, and large-cap businesses by providing equipment financing solutions via technology-enabled platforms and market-leading structuring expertise gained from over a century of experience since our founding in 1908," commented Rich Cady, Lending Solutions Manager for CIT.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. SNWV is focused on the research, development, and commercialization of its patented noninvasive and biological response activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures. Through its recent acquisition of the UltraMIST® assets, SANUWAVE now combines two highly complementary and market-cleared energy transfer technologies used in the dermaPACE® and UltraMIST® Systems and two human tissue biologic products (Biovance® and Interfyl®), which creates a platform of scale with an end-to-end product offering in the advanced wound care market.
SANUWAVE's portfolio of regenerative medicine products and product candidates activate tissue regeneration biological signaling and angiogenic responses, producing new vascularization and microcirculatory improvement combined with tissue growth which helps restore the body's normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, plastic/cosmetic and cardiac/endovascular conditions.
For additional information about the Company, visit www.sanuwave.com.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company's product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company's ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
SANUWAVE Health, Inc.
Kevin Richardson II
Chairman and Chief Executive Officer
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