SANUWAVE Signs MOU for Exclusive Joint Venture with FKS in Southeast Asia, Shares Perk Higher

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Tuesday, June 26, 2018

Shares of SANUWAVE Health, Inc. (OTCQB:SNWV) are on the move higher as the company announced a signed Joint Venture (JV) agreement with FKS, a JohnFK Medical company in Southeast Asia.  The first of two exclusivity fees have been received with a second scheduled for the third quarter of 2018.  The Agreement will cover Taiwan, Singapore, Malaysia, Brunei, Cambodia, Myanmar, Laos, Thailand, Philippines, Indonesia and Vietnam.  The JV is expected to place at least 40 devices during 2018 and over 200 in the first three years, with the first shipments going out in the third quarter of 2018. The agreement is similar to other international JV’s entered into by SANUWAVE in that, the profits are shared equally among the partners, a management committee exists to ensure success of the JV, and exclusivity fees are involved to ensure mutual success.  The agreement also stipulates that one of SANUWAVE Health’s long-time science advisors, Dr. Wang, will be a consultant to the JV.

Kevin Richardson II, CEO and Chairman, stated, “We have spent the past 18 months exploring Southeast Asia to develop the proper partnership in the region.  JohnFK Medical is a premier medical company in the region with over $400 million in revenue and aims to be publicly listed on two exchanges in both the US and Taiwan by 2020. This joint venture brings tremendous synergy effects, as FKS Life and Medical Health Care Inc. focuses on wound care treatments for Diabetic Foot Ulcers (DFUs) in the Asian region.  The joining of SANUWAVE and FKS, with both the advanced medical technology and extensive medical channels owned, will help bring a better quality of life for patients collectively.”

The regions covered in the agreement have an aggregate population of 679 million people and an average diabetes propensity of 8.5%.  The growth rates of diabetes in the region is growing faster than the US rate.  A device such as dermaPACE® can assist in treating complications from this devastating disease.

Shares of SNWV are trading up 10.55% to $0.44 on the news in early-morning trading as the stock tries to climb higher after a two-month downtrend.

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