LifeWave device to be distributed in Brazil

LifeWave can also grant its Brazilian distributor rights to other South American countries.

LifeWave Hi-Tech Medical Devices Ltd. (TASE:LIFE) has signed a memorandum of understanding (MOU) with a Brazilian medical devices distributor, for the distribution of the company's BST (bioelectrical signal therapy) device for the treatment of chronic sores.

Medical device distributor PDO Medical acquired the distribution rights for five years, after which the agreement can be extended for 1-year periods.

PDO will pay LifeWave $100,000 with the signing of the MOU.

PDO committed to buying at least $700,000 for 2011 and 2012. The minimum purchases for the following years will be set in a formal agreement, but will not be less than $400,000 per year.

LifeWave can decide, at its discretion, to grant the company distribution rights to other South American countries.

LifeWave shares are up 3.5% so far today.

Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018