LifeWave’s German distributor has promised to buy €19.5 million worth of its bed sore treatment device over four years.
LifeWave Hi-Tech Medical Devices Ltd. (TASE:LIFE) today announced that the German distributor of its bed sore treatment (BST) device has placed a €400,000 order for the product after the satisfactory completion of the trial period stipulated in the contract between the companies.
Under the MOU, LifeWave’s German distributor has an exclusive license to market BST in Germany, and promised to buy €19.5 million worth of the devices over four years.
The order is important for LifeWave beyond the actual amount involved, because it is tantamount to confirmation of BST’s effectiveness. Although the company has obtained CE Mark certification, this applies only to product safety, not its effectiveness.
Published by Globes [online], Israel business news - www.globes.co.il - on May 15, 2007
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