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Business Observer Tuesday, Jun. 23, 2020 1 week ago

Area medical firm wins bid to sell products in Brazil, Israel and more countries

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Clearwater-based Apyx Medical Corp. will be able to sell its Renuvion product in Australia, Brazil, Israel, Taiwan and Thailand.
by: Brian Hartz Tampa Bay Editor

CLEARWATER — Apyx Medical Corp. (NASDAQ: APYX), a Clearwater-based maker of medical devices and supplies, has won regulatory approval to sell its Helium Plasma Technology product in Australia, Brazil, Israel, Taiwan and Thailand. 

According to a press release, Apyx, formerly known as Bovie Medical Corp., has already contracted with distributors to market and sell the cosmetic surgery product — known by the brand name Renuvion — in each country.

“We are very pleased to obtain regulatory approvals to market and sell our Helium Plasma Technology products in these five new countries,” Apyx President and CEO Charlie Goodwin states in the release. “We have been focused on pursuing regulatory clearances in international markets as one of our key strategic priorities to enhance Apyx Medical’s long-term growth profile.”

Goodwin adds, via the release, “We are especially excited by the growth opportunity we have in Brazil, which is estimated to be the second-largest cosmetic surgery market in the world in terms of both the total number of procedures performed and the number of surgeons. We shipped an initial commercial order to our distributor in Brazil in late-June and we expect to ship our initial commercial orders to each of the other new countries over the second half of 2020.”

Apyx reported gross revenue of $28.24 million in 2019, up from $16.61 million in 2018, an increase of 70%.

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