Venus Concept Announces Expansion of International Distribution Network and Certification of Products in India

VERO 11.07.2024

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  • 11.13.2024 - Venus Concept Third Quarter of Fiscal Year 2024 Earnings Conference Call
  • 11.13.2024 - Venus Concept Announces Third Quarter of Fiscal Year 2024 Financial Results
  • 11.07.2024 - Venus Concept Announces Expansion of International Distribution Network and Certification of Products in India

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  • 01.10.2025 - DEF 14A Other definitive proxy statements
  • 01.07.2025 - 8-K Current report
  • 12.20.2024 - PRE 14A Other preliminary proxy statements
Enhances future international growth profile with new partners and regulatory certifications in key global aesthetic markets

TORONTO,Nov. 07, 2024(GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced the continued expansion of its international distributor network with several developments globally:

  • Index International Ltd., a subsidiary of Paragon Meditech (“Paragon”), inTaiwan
  • Quirugil S.A (“Quirugil”), inColombia
  • Certification of select products inIndiawith the Company’s exclusive distribution partner,Spectra Medical Systems(“Spectra”)

Founded in 2014, Paragon currently operates under three banners coveringChina,Hong KongandTaiwanwith a total of more than 130 total employees. Paragon brings extensive aesthetic medical device distribution experience in the region.

Quirugil operates primarily inColombiawith over 109 employees and 5 branches around the country. Quirugil is a member ofHolding Medical Healthcare LLC, with six affiliated brands that offer solutions to help develop health change inLatin Americaand brings a network of expertise in the region for Venus products.

Venus Concepthas also successfully certified the Venus ARTAS iX, Venus Legacy, Venus Bliss MAX and Venus Viva inIndia, in partnership with Spectra. We look forward to offering our best-in-class technologies for immediate distribution to aesthetic practitioners in the region.

“The latest developments globally are evidence of Venus Concept’s continued progress in evolving our commercial strategy outside theU.S.to enhance future growth and profitability,” saidRajiv De Silva, Chief Executive Officer ofVenus Concept. “The Company’s new agreements add strong partners in key global aesthetics markets specifically, Columbia andTaiwan. We are excited to have access to our various partners’ networks and expertise in supplying local practices with our technology. In addition, we look forward to leveraging Paragon’s established distribution presence in additional countries in APAC in the future."

Mr. De Silvacontinued: “We are also pleased to announce that, with the support of our exclusive distribution partner, Spectra, Venus Concept’s products have been certified inIndiaand we look to begin sales immediately into one of the largest aesthetics markets in the world.”

Cautionary Statement Regarding Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained herein that are not of historical facts may be deemed to be forward-looking statements. In some cases, you can identify these statements by words such as such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “should,” “could,” “estimates,” “predicts,” “potential,” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, and projections about our business, and the industry in which the Company operates and management's beliefs and assumptions and are not guarantees of future performance or developments and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking statements in this communication may turn out to be inaccurate. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, those risks and uncertainties described under Part II Item 1A-“Risk Factors” in our Quarterly Reports on Form 10-Q and Part I Item 1A-“Risk Factors” in our Annual Report on Form 10-K for the fiscal year endedDecember 31, 2023. You are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are based on information available to us as of the date of this communication. Unless required by law, the Company does not intend to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise.

AboutVenus Concept

Venus Conceptis an innovative global medical aesthetic technology leader with a broad product portfolio of minimally invasive and non-invasive medical aesthetic and hair restoration technologies and reaches over 60 countries and 12 direct markets.Venus Concept'sproduct portfolio consists of aesthetic device platforms, includingVenus Versa, Venus Versa PRO, Venus Legacy, Venus Velocity, Venus Viva,Venus Glow,Venus Bliss, Venus Bliss MAX, Venus Epileve, Venus Viva MD and AI.ME.Venus Concept'shair restoration systems include NeoGraft® and the ARTAS iX® Robotic Hair Restoration system.Venus Concepthas been backed by leading healthcare industry growth equity investors includingEW Healthcare Partners(formerlyEssex Woodlands),HealthQuest Capital,Longitude Capital Management,Aperture Venture Partners, Masters Special Situations, andMadryn Asset Management, L.P.

Investor Relations Contact:ICR Westwicke on behalf of Venus Concept:Mike Piccinino, CFAVenusConceptIR@westwicke.com

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Source: Venus Concept Inc.

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