ITGI signs stent deals worth NIS 20m

The company today signed an NIS 800,000 contract in India.

ITGI Medical Ltd. (TASE:ITGI) today signed an NIS 800,000 deal for 220 of the company's Over and Under stents with Indian distributor Biomedicon Services pvt. ITGI will register the stents for use in India.

Altogether, the company says that it has signed 16 contracts worth a potential NIS 20 million in sales in the first year between May 2008 and May 2009. Most of the contracts are in Europe, where the stent has obtained EU CE Mark certification

ITGI Medical Ltd and its subsidiary, Design & Performance Ltd. develop and sell heterologous tissue covered stents and products for vascular applications. The Over and Under pericardium covered stent is wholly covered with a heterologous tissue, designed to set a barrier between the coronary blood vessel wall and its lumen. It is intended for situations such as degenerated Saphenous Vein Graft (SVG), aneurysms and perforations. Frost and Sullivan said that the company's stent would revolutionize the market.

Published by Globes [online], Israel business news - - on September 8, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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