LifeWave Hi-Tech Medical Devices Ltd. (TASE:LIFE) has obtained indemnification coverage in Germany for its BST (bioelectrical signal therapy) device for chronic sores.
The company obtained the coverage after intensifying its marketing efforts and focusing on the German market in collaboration with local firm, Mex, which specializing in selling new medical technologies in the country.
Additionally, the Gottingen University Hospital approved use of the BST device on the basis of the indemnification code. This process parallels several pilot programs now underway at other German hospitals.
LifeWave's chairman is Haim Ramon.
Lifewave's share price rose 8.1% in early trading today to NIS 2.80, giving a market cap of NIS 40 million.
The share will be relegated from the Biomed Index at the end of the month.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010