15th Sep 2016 09:39
LONDON (Alliance News) - Tekcapital PLC on Thursday said its new subsidiary Belluscura Ltd, in which it holds a 74% stake, has acquired the licence and related manufacturing assets for the distribution and sale of a medical device from the US's Stryker Corp.
The device is called 'The Wire Caddy', and is a wire management system that provides lubrication and organisation during multi-wire, multi-exchange operating room cases such as cardiology interventions, uterine fibroid embolisations and tibial angioplasties.
Belluscura will pay a "modest up-front cash payment", as well as royalties on future product sales.
"We are very pleased to announce that Belluscura has acquired the exclusive licence to the Wire Caddy and is executing its model to acquire and market unique medical devices. Belluscura's mission is to provide premium, proprietary medical devices at affordable prices," said Executive Chairman Clifford Gross in a statement.
Shares in Tekcapital were untraded Thursday. They last closed at 29.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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