Allium Medical Ltd. (TASE: ALMD) today announced that its stents have been implanted in French patients. The company said that the procedures were the first commercial implants, and were to the doctors' satisfaction.
The implants were conducted at the Urology Ward of the MGEN Lyon Medical Centre, which a reputation in this field. More implants are due to be carried out in the coming weeks.
Allium's stents receive full insurance indemnification from France's Ministry of Health, which the company says is a very important factor for promoting sales in this market. Together with the French distributor, the company plans to expand business nationwide in collaboration with leading hospitals.
Founded in 2001, Allium develops and manufactures non-vascular peripheral stents to keep open urinary and gastrointestinal passageways that are closed or obstructed due to malignant and benign obstructions, caused by aging, disease, or trauma. The company currently produces five groups of urinary and biliary stents.
Allium's share price rose 3.8% by early afternoon to NIS 0.63, giving a market cap of NIS 39 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2010
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