VVT Med Signs $3.7 Million Distribution Agreement in India, Achieves European Sales Milestone and Announces Proposed Debt Settlement
VVT Med Inc. (TSXV: VVTM) ("VVT Med" or the "Company"), a leader in next-generation, minimally invasive, non-thermal, and non-tumescent ("NT-NT") solutions for venous disease, is pleased to announce several milestones in the execution of its stated global expansion, sales and capital strategies.
$3.7 Million Distribution Agreement in India
VVT Med has entered into a five-year distribution agreement dated September 5, 2025 with Medworks India, a leading healthcare distributor in India, for its ScleroSafe™ medical device in the varicose vein treatment market (the "Distribution Agreement").
The Distribution Agreement commits Medworks India to purchase CAD $3.7 million worth of ScleroSafe™ units over a five-year period, with CAD $1.85 million under a "Buy & Pay" model, subject to the early termination of the Distribution Agreement. The Company's ScleroSafe™ received regulatory approval from the Central Drugs Standard Control Organisation (CDSCO) under Directorate General of Health Services, Ministry of Health & Family Welfare, Government of India in 2022.
The Distribution Agreement will be in effect for five years from the effective date, unless terminated earlier or extended through a written mutual amendment. The Company may terminate the agreement for cause, including payment defaults, failure to meet obligations or sales targets, legal changes, IP disputes, or certain organizational changes within Medworks India. Either party may also terminate the agreement for convenience with 30 days' notice.
Following several dozen successful procedures performed across key vein centers, physician satisfaction has been high, resulting in confirmed reorders. Medworks has already placed its initial stocking order, marking the beginning of commercial rollout and physician adoption across India
"This partnership underscores Medworks India's confidence in the commercial potential of ScleroSafe™. It is another important step in our global commercialization strategy and reflects the accelerating demand for our innovative NT-NT venous-care solution," said Erez Tetro, Chief Executive Officer of VVT Med Inc.
Clinical Milestone in Europe
The Company announced that, in collaboration with Promedika, its exclusive local representative, it has completed 150 ScleroSafe™ treatments in North Macedonia. This number of procedures provides meaningful evidence of efficacy under the product's European Union CE certification and marks an important step toward broader adoption across the European Economic Area (EEA).
The milestone reflects recurring orders from the treating clinic, indicating consistent physician use and positive patient outcomes. Promedika has placed additional replenishment orders, and further orders are expected as adoption continues to grow.
The milestone was achieved under the leadership of Dr. Sasko Nikolov, a leading Interventional Cardiologist, who has been instrumental in expanding the use of ScleroSafe™ in advanced and complex venous cases.
"ScleroSafe is my preferred technology for treating varicose veins, particularly in complex cases such as ulcers, recurrences, and advanced disease," said Dr. Sasko Nikolov
Debt Settlement to Strengthen Capital Structure
VVT Med is pleased to announce that it intends to issue 320,000 common shares at a deemed price of CAD$0.56 per share as compensation for advisory services rendered by certain consultants in connection with its public listing (the "Shares for Services"). In addition, the Company intends to enter into agreements with various vendors to settle up to CAD$720,197 of outstanding indebtedness through the issuance of up to 1,745,151 common shares at a price equal to the market price of CAD$0.31 per share (the "Proposed Debt Settlement").
The issuance of shares pursuant to the Shares for Services arrangement and the Proposed Debt Settlement is subject to approval by the TSX Venture Exchange (the "TSXV"). The shares will be subject to a statutory hold period of four months and one day, in accordance with applicable securities laws and TSXV policies.
Completion of the Proposed Debt Settlement remains conditional upon the execution of definitive agreements and receipt of final approval from the TSXV.
SOURCE VVT Med Inc.
Media Contact: Orly Efraty, Email: orly@vvtmed.com
