Company Overview - NEXGEL Inc is a leading provider of medical and over-the-counter (OTC) products, specializing in ultra-gentle, high-water-content hydrogels for healthcare and consumer applications [1] - The company has over two decades of experience in developing and manufacturing electron-beam, cross-linked hydrogels [2] - NEXGEL's product portfolio includes brands such as Silverseal®, Hexagels®, Turfguard®, Kenkoderm®, and Silly George® [2] - The company maintains strategic contract manufacturing relationships with leading consumer healthcare companies [2] Partnership Announcement - NEXGEL has entered into a supply agreement with Cintas Corporation, a Fortune 500 company serving over 1 million businesses across North America [1][4] - Under this agreement, NEXGEL will supply its SilverSeal product to Cintas for distribution to customers in various sectors including hospitality and public service [6] - The first order of SilverSeal is expected to be delivered in Q4 2024 [6] Product Details - SilverSeal is a hospital-grade hydrogel dressing designed for wound and burn care [6] - The product will be offered as a wound care solution for employees of Cintas' customers [6] Strategic Significance - The partnership with Cintas is significant for NEXGEL due to both revenue potential and brand awareness for SilverSeal [4] - Cintas is a major provider of products and services that help businesses maintain clean, safe, and professional environments [4] Market Position - Cintas Corporation is a publicly traded company on the Nasdaq Global Select Market under the symbol CTAS [4] - The company is a component of both the S&P 500 Index and Nasdaq-100 Index [4]
NEXGEL Subsidiary, CG Converting and Packaging, Announces it will Supply SilverSeal to Cintas Corporation