Salona Global Further Expands Product Line with Distribution Agreement with Hyperice; Secures Sales Order of Recently Acquired IP with the Mio-Guard Premium Electrode

SAN DIEGO, June 29, 2022 (GLOBE NEWSWIRE) -- Salona Global Medical Device Corporation (“Salona Global,” “SGMD,” or the ‎‎“Company”) (TSXV:SGMD) announced today it has expanded its product line with an agreement to distribute the Hyperice suite of products. Additionally, Salona Global also announced receipt of its first orders of 600 units for the recently launched Mio-Guard premium reusable electrode based on the acquisition of intellectual property (“IP”) previously announced on April 14, 2022.

The Hyperice product line includes products that provide high frequency hand-held massage technology to relieve muscle pain, tension, and soreness from patients recovering from injuries. The Hyperice products add to Mio-Guard’s existing product line, further expanding the offerings to athletic trainers and physical therapy clinics that improve patient recovery outcomes, while also improving the financial performance of the clinic. SGMD is now offering over a dozen new Hyperice products ranging from $50 to $500 to its growing list of customers. 

Salona Global also announced it has received the first sales orders for products generated from the IP portfolio acquisition announced in April and closed in late May. Upon acquiring the IP, the design of the new products was initiated, a production line was built, and the sales team secured its first sales order with delivery expected July 2022. The process, which took less than two months, was an important step for the Company to understand how quickly it can generate revenue from an acquired IP. The electrode margins are consistent with Salona Global's existing supply chain business.

“I am proud of the way the Salona Global team worked seamlessly to acquire, design, test, and bring to market new products in less than two months. This is exactly the advantage of vertical integration that has been a key to our strategy. We believe we can replicate this success many times,” said Les Cross, Chairman of the Board.

Mio-Guard currently works with over 30 sales representatives to distribute over 400 products to athletic trainers and physical therapists in over 30 states. The global medical electrode market size is projected to reach over USD $1.7B by 2028.¹

To kick-off these new product offerings, representatives from Salona Global’s Mio-Guard are attending the National Athletic Trainers’ Association Convention now through July 1, 2022 at the Pennsylvania Convention Center in Philadelphia