Biosensor and microprocessor technologies developer SPO Medical has entered into a collaboration agreement with HoMedics.

Under the agreement, SPO Medical will distribute HoMedics’s over-the-counter HoMedics Deluxe Pulse Oximeter, which is based on patented Optimetrix technology.

Currently being promoted and sold in North America, the private-labeled oximeter uses proprietary optical techniques to measure certain vital sign measurements for use in various non-medical consumer wellness applications.

HoMedics, which has launched the Deluxe Pulse Oximeter during 4th quarter of 2012 at CVS stores in the US, said it sees substantial upside potential to expand in the drug channel and beyond during 2013.

In addition, HoMedics is looking to increase distribution worldwide via its extensive network in over 60 countries.

SPO Medical chief executive officer Michael Braunold said the company has been working with HoMedics since early summer 2012 and have made tremendous progress together, with the introduction of the HoMedics Deluxe Pulse Oximeter to US consumers.

"As market awareness for wellness products strengthens and grows, our partnership with the oximeter and future products under development creates promising opportunities for both companies," Braunold added.

"Our decision to distribute under the HoMedics private-label has afforded us access to mass-market retailers worldwide and we plan on expanding our product portfolio to further leverage on our joint-success to date."