The strategic partnership is designed to allow for the two independent firms to pool their expertise and technologies to bring out new software products to the expanding medical imaging marketplace.

Initially, during the first year of collaboration, certain NMS imaging software modules will be modified and sold by ContextVision to OEM customers worldwide.

In a second step, it is expected that certain NMS’ imaging modalities and COV’s GOPView technology will be integrated into new products to reach the market by early 2012, further leading to future joint products development.

ContextVision CEO Anita Tollstadius said that this agreement constitutes a first step to implementing their strategic plan to expand product offering beyond image enhancement and a set of products will be developed together and, although they will have a period of investment, they expect efforts to lead to substantial sales growth within three years.

“The agreement allows us to accelerate the development of new products with additional clinical and diagnostic value as we gain access to NMS’ demonstrated, significant product development capabilities,” Tollstadius said.

“As a result of this strategic collaboration, we will also expand and invest in our sales and marketing organisation over the next 12 months.”