CEO Itsik Henig: The agreement follows our distribution agreements with Henry Schein in the US and with ADC in Russia.
Sialo Technology Israel Ltd. (TASE: SALO) has signed a 36-month distribution agreement with India's Analytical and Medical Technologies Pvt. Ltd. (AMT) to market Sialo's root canal and dental implant products in India. AMT did not undertake to buy a minimum number of products, but it will assume the responsibility and costs for obtaining regulatory permits for them.
Sialo CEO Itsik Henig said, "This agreement opens a door to the marketing of our advanced dental systems in the huge Indian market, which is thirsty for state-of-the-art devices. The agreement follows our distribution agreements with Henry Schein in the US and with ADC Company Israel Ltd. in Russia. Sialo continues to sign contracts with leading distributors with proven experience and success in their markets, which we believe will help Sialo boost the pace of sales of its proprietary dental systems worldwide."
Sialo's share price rose 14.1% in morning trading to NIS 0.698, giving a market cap of NIS 13 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 19, 2011
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