Biosign Technologies, a provider of automated health monitoring solutions, and Swiss-based DynamiCARE, a company dealing with medical and pharmaceutical products, announced that they have replaced their exclusive master distribution agreement from July 2, 2010 with a similar but non-exclusive distribution agreement.
As per the revised agreement, DynamiCARE is now given nonexclusive distribution rights to resell Biosign products in Germany, France, Switzerland, and Austria and is exempted from paying the $2.5million milestone payment or achieve the volume commitments that were required in the previous agreement to maintain exclusivity.
In a press release, the company said that this modification to the DynamiCARE agreement enables Biosign to move forward with other multinational distribution partners in Europe.
"We were very impressed with the performance and ease of use of the UFIT TEN-20 blood pressure and blood glucose meter that was demonstrated to us by Biosign since June 2010 and to the Annual Meeting of the European Medical Device Distributors in December 2010. Upon further negotiations with Biosign, we concluded that our financial resources would be better used marketing this remarkable product rather than expending them on exclusivity payments,” Patrick Dressler, president at DynamiCARE said in a statement.
“We expect UFIT to have a large impact on the European chronic disease management industry in the coming months and we look forward to a fruitful business relationship with Biosign," Dressler added.
As an enabler of biomedical systems, Biosign Technologies has been offering intelligent systems for noninvasive monitoring of common health risks associated with blood pressure, glucose, and medication. The core technology combines measurement, analysis, and rapid knowledge formation to support health monitoring across global markets. The UFIT medical device technology powers quality data collection and analytics for clinical diagnostics, self-care, wellness, disease state evaluation & management, and remote patient monitoring.
TMC recently reported that Biosign entered into Hosting Agreements with Dell, whereby Dell will host Biosign's UFIT and Healthanywhere platforms on a global basis. As a single partner for both hardware and support services, Dell will offer Biosign a fully-integrated, end-to-end solution that includes hardware, data center hosting and support.
Jai C.S. is a contributing editor for HealthTechZone. To read more of Jai's articles, please visit his columnist page.Edited by
Jennifer Russell
