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TechniScan, Inc. announces that Esaote, a medical imaging company specializing in high performance ultrasound systems, has recently agreed to continue, and extend, its OEM agreement.

TechniScan, Inc., a medical device company engaged in the development and commercialization of an automated breast ultrasound imaging system, announced that Esaote, a medical imaging company specializing in high performance ultrasound systems, has recently agreed to continue, and extend, its original equipment manufacturing (OEM) agreement with TechniScan.

The supplement to the OME agreement provides for additional support from Esaote for TechniScan's engineering, regulatory and manufacturing initiatives. This support will provide TechniScan with the added resources to complete development of SVARA and enables TechniScan to focus on development of the TechniScan Imaging Network that allows physicians, patients and payers to store and transmit image data and records across the network. TechniScan said it will also focus on sales and marketing while Esaote utilizes its manufacturing and regulatory support capabilities to produce the system in its CE-mark qualified manufacturing facility in Genoa, Italy. Esaote will be paid either common stock or cash for its services under the supplement to the OEM agreement, as determined by Esaote anytime during the second quarter of 2010.

The parties also signed a non-binding Letter of Intent (LOI) that outlines the terms and approach for Esaote to partner with TechniScan to manufacture and source TechniScan's SVARA whole breast imaging system. The LOI also addresses Esaote's expectation of marketing and distributing SVARA under Esaote's own brand, and will pay a license fee to TechniScan calculated as a percentage of Esaote's revenue in Europe.

Source: TechniScan, Inc.

You can discuss more about Ultrasound and related topics in our ULTRASOUND Group.