Meditron signs new agreement
Asker, Norway, 8th January 2004, Meditron ASA announced today that it has signed an exclusive agreement with Measurement Specialities Inc.,(MSI) for the supply of transducer assemblies for Meditron's revolutionary erectile dysfunction (ED) product. The objective of the agreement is to preparea finished industrialised product by the end of the year. A detailed production agreement is to benegotiated by 31st March 2004 and will determine the final date for the start of production.
Impotence, in various degrees, affects in the region of 150 million world wide and today's market formarket for potency aids is evaluated to more than 4 billion USD. The market is dominated by Viagra;however Meditron can, through its new product, offer prescription free solution that is completelywithout side effects which should be particularly more attractive and safer for the user.
“That MSI are willing to invest a considerable sum in the development of components and specialisedproduction equipment is very gratifying. These agreements will mean that Meditron will saveinvestments for several tens of millions of NOK. Both companies know each other very well as MSIalready produce the sensors for Meditron's stethoscope business. The agreements will ensure highproduct quality as MSI is a world leader in piezoelectric materials.
In the coming weeks and months we will carry out a partner search for business partners in distributionand sale of the product world wide” says Birger Orten, Meditron's CEO.
Please address enquires to:
Adm.dir. Birger Orten, tel. 90826474, or
Styreformann Arnstein Endresen, tel. 92230444
About Meditron ASA:
Meditron ASA is a Norwegian based technology company focused on the development of medical technology products based on their own patented solutions. The company is a leading player in PC based auscultation system and today has established to strong foothold in international markets. Meditron is also developing an erectile dysfunction (impotence) aid.