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CardioDynamics Aligns with India's RMS
(Wireless News Via Thomson Dialog NewsEdge)
CardioDynamics, a provider of Impedance Cardiography (ICG) technology,
announced a Strategic Alliance with Recorders and Medicare Systems
(RMS), a manufacturer of medical equipment in India.
Under the terms of the Distribution and Technology License Agreements,
RMS will have rights to sell CardioDynamics manufactured BioZ ICG
products in India and also will integrate BioZ ICG technology into RMS'
patient monitoring products. CardioDynamics will receive product
revenue for each ICG monitor and a licensing fee for each BioZ ICG kit
purchased by RMS.
Michael K. Perry, Chief Executive Officer of CardioDynamics, said, "We
have made a concerted effort to diversify our business beyond the U.S.
physician office market which is heavily dependent upon Medicare and
private insurance reimbursement. These agreements with RMS are another
step in driving our international growth initiatives and will build
upon the recently announced record 50 percent year-over-year quarterly
growth in our International business. Through our technology licensing
strategies, we are increasing global access to our BioZ ICG technology
and increasing the recurring revenue content of our business."
India, whose population exceeds one billion people, has significantly
increased its healthcare expenditures over the past decade to more than
$34 billion or roughly 6 percent of GDP. The population of individuals
at least 60 years of age is projected to triple over the next 20 years
to an estimated 190 million people.
Suman Jolly, Managing Director of RMS, said, "We are proud to partner
with the world's premier ICG monitoring company and to bring innovative
medical technology to our healthcare system. The rebuilding of India's
healthcare infrastructure, combined with the emergence of medical
tourism and telemedicine, will drive strong demand for medical
equipment. Additionally, the government is encouraging growth of the
medical equipment market through policies such as a reduction in import
duties on medical equipment, higher depreciation for life-saving
medical equipment, and a number of other tax incentives."
India presently has one-fifth of the world average number of hospital
beds per million population and an estimated 450,000 additional beds
will be required by 2010 -- an investment estimated at over $25 billion.
Perry added, "We view this strategic alliance with RMS as beneficial on
two major fronts. First, RMS has an extensive presence in the
developing, healthcare market in India, which will be instrumental in
helping to drive continued market adoption of our proprietary BioZ ICG
technology. Secondly, we believe RMS will be an excellent technology
partner to utilize for low cost development and manufacturing in the
years ahead."
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))
Copyright ? 2008 Wireless News
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