PuriCore Terminates Distribution Agreement With Misonix For Wound Care Solution

(RTTNews) - PuriCore plc (PURI.L) announced it has reached an agreement with Misonix Inc. (MSON), to terminate the distribution agreement, for a private-label version of PuriCore's Wound Care solution for use principally in conjunction with the Misonix line of ultrasonic systems, without any financial obligations by either party.

The distribution agreement had been expected to deliver a total of approximately $1 million in gross margin to PuriCore over the course of 2013 and 2014. PuriCore said it will expand the ultrasonic application of Wound Care products with a new partner in this specialty field. The Directors PuriCore are confident that the comapany's business development initiatives along with other commercial activities will offset the margin loss.