Itamar Medical Ltd. (TASE:ITMR) has signed a strategic marketing and distribution agreement in Japan, one of its main target markets. Medical equipment company Nihon Kohden has chosen the Israeli company's EndoPAT diagnostic tool as its flagship product for monitoring the heart and blood vessels, and will market it to some 100,000 doctors and hospitals in Japan with which it works.
The agreement comes a year after Itamar Medical's Japanese subsidiary began operating. The company has seen steady growth in its revenue from cardiology products. Iatamr Medical has two main target markets, Japan and the US, and it says that the agreement with Nihon Kohden has the potential to boost its sales growth. The market for EndoPAT in the fields of heart disease, preventative medicine, and internal medicine in Japan, the US and Europe is worth $2.6 billion annually.
Itamar Medical president and CEO Gilad Glick said, "The agreement with NK testifies to the confidence in the product and in its clinical and commercial potential. The agreement signed, following on from the agreement with Philips in the field of sleep breathing disorders, will enable Itamar to accelerate its penetration of the Japanese market. This is a leading company in the Japanese cardiology market, one of the most important and sophisticated medical devices markets in the world, and we believe that NK is an excellent partner for introducing the EndoPAT diagnostic tool for clinical use in this market."
Published by Globes [online], Israel business news - www.globes-online.com - on June 22, 2014
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