MDY Mdy Healthcare

RNS No 4776d
MEDISYS PLC
4 October 1999
                                 Medisys PLC

                  Licensing Agreement for Bone Wax Product

Medisys PLC ("Medisys") announces that it has signed an agreement for the
marketing and manufacture of its bone wax product with Surgical Specialties
Corporation Inc. ("SSC").    

Through Futura Medical Corporation Inc. ("Futura"), its wholly owned
subsidiary, Medisys has  granted SSC a five year licence to manufacture,
market and sell Futura's bone wax product worldwide.  SSC, which is a
subsidiary of the Marmom Group, will pay an initial consideration of $1m in
cash.  Futura will receive a 30% royalty on the first $1m worth of product
sales in each year during the term of the agreement and an additional 10%
royalty on all sales over $1m.

The agreement also grants SSC the exclusive option to acquire the product.  If
SSC exercises this option it will pay $2.5m less all consideration already
paid in respect of the product.  The option can be exercised following the
earlier of (a) one year or (b) the date that SSC obtains a European Community
regulatory authorisation to sell the product in EC member countries. 

Kurt E. Amundson, President & Chief Operating Officer of Medisys said: "We are
very pleased with this transaction and view this as a win-win situation for
Medisys.  First, the license agreement enables us to leverage SSC's worldwide
marketing ability to achieve greater penetration for our bone wax products and
secondly, Futura will be better positioned to concentrate on its core market
of healthcare worker safety devices and safe disposal systems."

Note to editors:

Medisys PLC develops, manufactures and markets diagnostic, medical and safety
products serving the rapid test and point of care medical market.  The Group
has two principal operating subsidiaries, Hypoguard and Futura, located in the
UK and in the US respectively.  The diagnostic division, Hypoguard, develops
and supplies blood glucose monitoring systems for the diabetic market.  Its
future focus is on serving unmet medical needs through the development of
diagnostic products based on its own proprietary platform technologies. 
Headquartered in Ipswich, UK, the Group employs approximately 225 people in
the UK and US.

Bone wax is a product used in surgical procedures to help seal the ends of
bones frayed during surgical process.  

Enquiries:

Medisys PLC                            
Kurt Amundson, President & Chief Operating Officer          001 650 327 7900
Michael Barry, Chief Financial Officer                      001 770 271 2795

Square Mile Communications                                     0171 601 1000
Kevin Smith/James Melville-Ross


END

MSCNFNELELANFEN

MDY Healthcare (LSE:MDY)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

MDY Healthcare (LSE:MDY)
Historical Stock Chart
Von Jul 2023 bis Jul 2024