Medical devices holding company D Medical Industries Ltd. (TASE:DMDC) portfolio company Nilimedix Ltd. has signed an exclusive distribution agreement for its product with a Swedish company, whose name it did not disclose. Nilimedix estimates that the distributor will buy €250,000 worth of the company's systems in the first year.
The two-year agreement came into effect yesterday, and can be discontinued by either party with 180 days notice.
Today's announcement comes two weeks after Nilimedix signed a distribution agreement for the Netherlands and Belgium.
Nilimedix develops and markets Continuous Subcutaneous Insulin Infusion pumps and patches for diabetics.
D Medical's share rose 3.7% in morning trading to NIS 1.03.
Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2009
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