D. Medical (DMED) Enters into OEM Agreement for Spring Universal DDI Sets
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D. Medical Industries Ltd. (Nasdaq: DMED) reports that its subsidiaries, Spring Health Solutions Ltd. and Spring Set Health Solutions Ltd. (collectively, "Spring Health"), have entered into an original equipment manufacturer ("OEM") agreement (the "Agreement") with Twobiens Ltd., a leading South Korea-based supplier of diabetes treatment and drug delivery products, for the worldwide distribution of its Spring Universal Detach Detect Infusion Sets under Twobiens' private label.
The Agreement is for a term of three years and contains annual sales targets and minimum order quantities estimated at a total of US$5 Million. Twobiens shall be responsible for all costs and expenses incurred by it in the performance of its duties and responsibilities under the Agreement. In addition, the Company and Spring Health retain all of their proprietary and intellectual property rights.
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The Agreement is for a term of three years and contains annual sales targets and minimum order quantities estimated at a total of US$5 Million. Twobiens shall be responsible for all costs and expenses incurred by it in the performance of its duties and responsibilities under the Agreement. In addition, the Company and Spring Health retain all of their proprietary and intellectual property rights.
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