MCS Medical Compression Systems (DBN) Ltd. (TASE:MDCL) has signed a term sheet with Hanger Prosthetics and Orthotics Inc. of the US for the distributions of MCS's ActiveCare+SFT second-generation orthopedic care device for use at home by patients of Scripps Green Hospital in California. The company did not disclose the size of the deal.
Hanger provides patient care and support services. It will provide and operate the ActiveCare+SFT device, and will provide MCS with information about the device and its use. The term sheet will be valid for four months while the parties negotiate the outstanding terms for collaboration.
The agreement will give patients access to MCS's device outside hospitals because hospitals and physicians are not authorized to train patients in the device. MCS believes that a contract with a leading US healthcare provider, with a nationwide deployment, will enable MCS to market its device to patients nationwide.
The ActiveCare+SFT is a non-invasive device for the treatment of deep vein thrombosis using patented compression therapy to maintain blood flow in limbs.
MCS rose 4.9% in early trading today.
Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2008
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