WideMed Ltd. (TASE:WDMD) has obtained EU CE Mark for its Morpheus Ox and Morpheus Hx cardio-sleep information systems, which will allow the company to market the products in Europe. Following the CE Mark certification, WideMed will expand its collaboration with GE Healthcare, which will market the Morpheus Hx in Europe.
WideMed cites a study by Frost and Sullivan, which estimates the European sleep industry market at $10 billion, and that 20 million Europeans suffer from chronic sleep disorders.
The Morpheus Hx includes software based on algorithms that can monitor sleep derived from data from standard sleep monitors manufactured by GE Healthcare. GE Healthcare has over $17 billion in annual turnover. The Morpheus Ox system uses a signal oxymeter to analyze sleep measures.
WideMed expects to launch sales of the Morpheus Ox in Europe in early 2011, provided that the company's suppliers meet delivery schedules.
WideMed's investors include Guidant Corporation, Platinum Neurone Ventures and Ascend Technology Ventures LP. The company's share price rose 16.2% by mid-afternoon to NIS 1.07, giving a market cap of NIS 17 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 7, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
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