Dental endoscope developer Sialo Technology Israel Ltd. (TASE: SALO) has signed a non-exclusive distribution agreement with Henry Schein Inc. (Nasdaq: HSIC), the world's leading distributor of dental equipment.
Henry Schein will distribute Sialo's proprietary root-canal and dental implant direct vision endoscope, which enables dentists to see what they are doing in real time on an LCD screen. The mobile system includes the endoscope, the LCD screen, and a light source.
Sialo expects to obtain US marketing approval for its products soon.
The companies signed a five-year contract with an option to extend for one year, if one of the parties does not terminate the contract. Salse will begin after Sialo completes regulatory procedures for the endoscope with the US Food and Drug Administration (FDA).
Sialo CEO Itsik Henig said, "After months of negotiations, we are pleased to sign with Henry Schein to certifies our products. This is an important milestone for the company, which further demonstrates the company's innovative and unique technology."
Sialo's share price rose 9.9% in morning trading today to NIS 3.23, giving a market cap of NIS 52 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2010
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