PhotoMedex Terminates Distribution Deal In Japan

(RTTNews) - PhotoMedex Inc. (PHMD) Friday announced the termination of the exclusive distribution agreement between its subsidiary Radiancy Inc. and Ya-Man Ltd. for the Japanese market due to, among other things, disputed marketing expenses of about $1 million and the failure of Ya-Man to meet its minimum purchase obligations under the agreement.

Both parties have determined that it is in their respective best interests to terminate the distribution arrangement following Ya-Man's disappointing sales results with the company in the last quarter.

Radiancy is actively seeking a new partner for the Japanese markets.

PhotoMedex is a skin health company providing integrated disease management and aesthetic solutions.