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MISSISSAUGA, Ontario, April 03, 2025--(BUSINESS WIRE)--Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company is pleased to announce the very positive outcome for the Company with regards to the April 2, 2025 tariff announcements by U.S. President Donald Trump.
Under provisions outlined in the United States-Mexico-Canada Agreement (USMCA), certain products that meet the agreement’s rules of origin requirements are not subject to the recent tariffs. Covalon’s products, produced in Canada and compliant with USMCA guidelines, therefore qualify for full exemption from US tariffs.
"Covalon relies on a mix of manufacturing in Canada and the United States for the vast majority of its life-saving, highly innovative medical products. We’re pleased to confirm that our Canadian-manufactured products are not subject to U.S. tariffs under the current trade policy," said Brent Ashton, Chief Executive Officer of Covalon. "This allows us to maintain competitive pricing and uninterrupted access for our highly differentiated products to customers in the United States."
Furthermore, Covalon is uniquely positioned as the largest advanced wound care collagen dressing manufacturer in North America. Most of Covalon’s competitors in this large market manufacture their collagen dressings in the United Kingdom, Germany or China where U.S. import tariffs will be 10%, 20% and 54%, respectively. Covalon is well placed to capitalize on this advantage and has already begun work with our strategic partners to advance efforts on this front.
To learn more about Covalon, please visit our website at www.covalon.com or contact us at investors@covalon.com.
About Covalon
Covalon is a leading MedTech company dedicated to improving patient outcomes through innovative and compassionate medical products and technologies. Our expertise spans advanced wound care, vascular access, and surgical consumables, with a strong focus on enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity. Our solutions are designed for patients and made for care providers. The Company is listed on the TSX Venture Exchange (COV) and trades on the OTCQX Market (CVALF). To learn more about Covalon, visit our website at www.covalon.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.