Noveko makes ultrasound breakthrough in China
MONTREAL: Noveko International Inc. has made a breakthrough selling its next generation ultrasound scanners into the Chinese market and in North America.
The Montreal-based medical products company said its subsidiary SAS ECM has signed an exclusive distribution agreement for the Imagyne ultrasound scanner for humans, and has secured contracts for the marketing of the new Exago veterinary ultrasound scanner in Canada and the US.
The value of the deals is estimated at $12 million over three-years.
ECM recently obtained authorization from the State Food and Drug Administration in China to sell the scanner, and has concluded an exclusive distribution agreement with Ningbo Xingaoyi Magnetism Co. Ltd. (NXM), a Chinese high-tech firm specializing in the manufacturing of magnetic resonance equipment.
The three-year agreement will see NXM purchase the scanner, a 64-channel device specially designed for obstetrics, gynecology and vascular medicine, for a minimum value of $7.6 million, $1.2 million of the total in the first year.
The veterinary contracts for the North American market are valued at more than $4 million over a three-year period. The newly developed veterinary scanner is intended mainly for use on horses, but will also be used in human medicine, notably for emergency, anaesthesia and army requirements.
Noveko operates three plants globally. Purer Life in Taiwan and Quebec based Epurair manufacture filtration products and ECM produces ultrasound scanners at its plant in France.