Doubek Medical Supply will distribute the company's insulin pump.
D Medical Industries Ltd. (Nasdaq: DMED); TASE:DMED) subsidiary Spring Health Solutions Inc. has signed a non-exclusive US distribution agreement with Doubek Medical Supply Inc. for its insulin pump Spring Universal Infusion Sets. This is D Medical's second distribution agreement in the US.
D Medical chief commercial officer Zoe Myers said, "The expansion of our US distribution network through the addition of market leaders like Doubek is in keeping with our goal of generating meaningful revenues and reaching positive margins as quickly as possible."
D Medical's share price closed at $1.72 on Nasdaq yesterday, giving a market cap of $13 million, and rose 9.6% by early afternoon on the TASE today to NIS 7.41.
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2011
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