Biosign Technologies has signed an exclusive master distribution agreement with Swiss-based DynamiCARE to distribute products like UFIT TEN-20 in Switzerland, Germany, France, and Austria, with an option to expand distribution throughout Europe.
Under the terms of the agreement, DynamiCARE is expected to pay an initial fee of $2.5m, with a commitment to achieve sales in excess of $100m in 2011.The initial fee has been payable upon UFIT TEN-20 satisfying a market pilot by the end of October 2010.
Biosign and DynamiCARE said that the pilot will create immediate marketing opportunities in selected markets while surveying key factors influencing distribution and deployment decisions, such as support for high-volume usage, multiple languages, and ‘test-drives’ by customers.
UFIT TEN-20 is an online medical device for self-monitoring of blood pressure and blood glucose. The device takes the pulse at the wrist through an inflatable cuff and gives blood pressure and blood glucose measurement results. All measurements are indirect, noninvasive, and passive. The results are stored on Biosign servers along with the test sample.
Biosign is set to deliver its products and services with Dell and Dell Services on a global basis.
Patrick Dressel, president of DynamiCARE, said: “DynamiCARE focuses on providing innovative solutions to diabetics. The UFIT platform is the next evolution of testing and diagnostics for personal medicine, promising a momentous impact on diabetes monitoring in terms of cost, comfort, and convenience. Our sales target reflects this promise.”
Radu Leca, president of Biosign, said: “Europe represents one third of the global market. It outpaces the world in providing the best overall health care, with France, Austria, Switzerland, and Germany as recognized global leaders. We are pleased with the opportunity of using the cradle of modern medicine to launch our radically unique product.
“In face of the magnitude of the task, we will proceed prudently, harnessing DynamiCARE’s presence in the diabetes market and leveraging their channel partners to ensure a successful launch.”