The company’s Italian distributor has placed a €60,000 order for its bed sore treatment product.
LifeWave Hi-Tech Medical Devices Ltd. (TASE:LIFE) has announced two new orders for the company’s bed sore treatment (BST) product and peripheral disposable electrodes. The company’s Italian distributor placed a €60,000 order, the minimum order for 2007 under the term sheet signed between the companies last month. Under the agreement, if no order was placed by September 1, LifeWave could unilaterally cancel it.
LifeWave has also signed a term sheet with another distributor for an undisclosed European country. The distributor will have exclusive marketing rights for BST in that country for four years, with an option to extend. The distributor promises to promises to place orders every six months for a total of €4.7 million during the contract period. The distributor has promised to place a €50,000 order for electrodes by the end of May. As with the agreement with the Italian distributor, LifeWave can unilaterally cancel the agreement if the distributor fails to meet the semiannual orders target.
Published by Globes [online], Israel business news - www.globes.co.il - on May 21, 2007
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