Huge distribution agreement for CardiacAxens in India
June 4, 2020
Signed with distributor for marketing at least 150,000 medical watches for $ 32.4 million. "Potential for sales is significantly higher than agreed." This is the eighth distribution agreement that the company has signed in recent months
CardiacSense, which developed a medical watch for early detection of cardiac arrest and stroke and measuring other physical parameters, has signed an exclusive distribution agreement in India with Xplore Lifestyle Solutions. The agreement includes a commitment to marketing more than 150,000 watches over 4 years, for a total of $ 32.4 million. CardiacAccesses estimates that the agreement has the potential to reach significantly higher sales volumes than the agreed amount, thanks to the extensive sales infrastructure of the distributor across India. This is the eighth distribution agreement signed by CardiacAns in the last three months for a total of more than $ 61 million. So far, the company has signed distribution agreements in Spain, Turkey, Uruguay, Australia, South Africa, Chile and now India.
CardiacAccess has developed a medical watch that allows to monitor cardiac arrhythmias and detect the onset of an elevated heartburn phenomenon, which is the most common heart disorder that results in the death of some 130,000 people a year in the United States alone. The clock operation is based on a unique optical sensor and algorithm that can monitor cardiovascular activity through monitoring of vascular volume (PPG) changes. The watch is an alternative to an ECG test, performed in a hospital or clinic, and thus monitor the heart activity of patients at remote and continuous risk, 24 hours a day, and throughout the patient's routine. The company designates the watch for two main needs: remote chronic patient monitoring and as a convenient and effective monitoring device for hospitalized patients, which can measure on one device medical measures currently measured by several devices.
The company applied for marketing authorization in Europe (CE) a few months ago and expects to receive the approval in the near future. At the same time, the company is currently preparing a similar application to the FDA in the United States, following the completion of the required clinical trials, some of which have been conducted in Israeli hospitals.
Listen to the # 15 program on the Techtime podcast, with Cardiacs CEO Eldad Shemesh
https://www.calcalist.co.il/home/0,7340,L-8,00.html
June 4, 2020
Signed with distributor for marketing at least 150,000 medical watches for $ 32.4 million. "Potential for sales is significantly higher than agreed." This is the eighth distribution agreement that the company has signed in recent months
CardiacSense, which developed a medical watch for early detection of cardiac arrest and stroke and measuring other physical parameters, has signed an exclusive distribution agreement in India with Xplore Lifestyle Solutions. The agreement includes a commitment to marketing more than 150,000 watches over 4 years, for a total of $ 32.4 million. CardiacAccesses estimates that the agreement has the potential to reach significantly higher sales volumes than the agreed amount, thanks to the extensive sales infrastructure of the distributor across India. This is the eighth distribution agreement signed by CardiacAns in the last three months for a total of more than $ 61 million. So far, the company has signed distribution agreements in Spain, Turkey, Uruguay, Australia, South Africa, Chile and now India.
CardiacAccess has developed a medical watch that allows to monitor cardiac arrhythmias and detect the onset of an elevated heartburn phenomenon, which is the most common heart disorder that results in the death of some 130,000 people a year in the United States alone. The clock operation is based on a unique optical sensor and algorithm that can monitor cardiovascular activity through monitoring of vascular volume (PPG) changes. The watch is an alternative to an ECG test, performed in a hospital or clinic, and thus monitor the heart activity of patients at remote and continuous risk, 24 hours a day, and throughout the patient's routine. The company designates the watch for two main needs: remote chronic patient monitoring and as a convenient and effective monitoring device for hospitalized patients, which can measure on one device medical measures currently measured by several devices.
The company applied for marketing authorization in Europe (CE) a few months ago and expects to receive the approval in the near future. At the same time, the company is currently preparing a similar application to the FDA in the United States, following the completion of the required clinical trials, some of which have been conducted in Israeli hospitals.
Listen to the # 15 program on the Techtime podcast, with Cardiacs CEO Eldad Shemesh
https://www.calcalist.co.il/home/0,7340,L-8,00.html
