15th Oct 2013 08:14
LONDON (Alliance News) - AIM-listed technology company Toumaz Ltd Tuesday said its has signed a new distribution deal in North America for one of its healthcare products, while the same product got clearance to be sold in the European Union and is already being trialed in a UK hospital.
Toumaz, which makes semiconductors for the audio and professional healthcare markets, said NantHealth Group will exclusively distribute its SensiumVitals product, which monitors patient vital signs wirelessly, in North America. The two companies will share distribution rights outside the continent.
It didn't give any financial details of the deal, but said it has already won its first commercial order for deployment at the Accident and Emergency department of Hurley Medical Center in Michigan. It said the value of the order was a six-figure sum, without giving any more details.
Separately, it said the same product had received so-called CE marking under the EU Medical Devices Directive, allowing it to be sold throughout the EU. It also secured a first UK pilot deployment of the product with private healthcare provider Spire Healthcare.
"The pilot will start in a Spire Healthcare hospital in early 2014. Spire has 38 hospitals across the country and has earned a reputation as a leader in patient care," it said in a statement.
"Results from the SensiumVitals pilot in North America have provided clear evidence that the system can shorten hospital stays and reduce healthcare costs. We are confident that similar results will be achieved in the UK and the rest of Europe," Toumaz Chief Executive Anthony Sethill said.
Toumaz shares were up 8.3% at 4.88 pence Tuesday morning, one of the biggest gains on AIM. The stock is still well below levels it reached earlier in the year, when it hit a high of 7.45 pence in January. It is down 11.4% year-to-date.
By Steve McGrath; [email protected]; @stevemcgrath1
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