Ilex Medical Ltd. (TASE:ILX) continues to expand around the world. Today the company reported two new deals, one in South Africa and one in Russia.
Together, the deals are worth around $10 million over five years.
Ilex unit Ilex South Africa has a deal with Pathcare labs, in which Ilex South Africa will set up over 80 IL blood gas analysis devices in emergency rooms. The deal is worth about $1 million per year, and is for five years. The new devices will replace older devices of competitors. When the project is completed, Ilex believes it will have over a 60% market share in monitoring blood gases in the country.
The company also said that another subsidiary, Ilex Biotech, signed a deal to supply two Tigris systems made by Novartis to monitor viruses and identify germs in blood samples. The deal is with the central blood bank in Kirov, Russia. The value of the deal is also estimated at $1 million per year, for five years.
Ilex Medical shares rose 2.1% by late afternoon today. The shares have risen over 40% in 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010