EGI.L Share News (EGI)

Electrical Geodesics (EGI), a neurodiagnostic medical technology company, has announced the signing of a distribution agreement with Hitachi Medical Systems America, Inc. Under the agreement, EGI will distribute Hitachi's ETG-4000 optical topography device for the non-invasive investigation of blood flow in the brain using near-infrared spectroscopy (NIRS) in the US, Canada and Mexico. The agreement allows EGI to sell Hitachi's NIRS device separately or in combination with EGI's Geodesic EEG Systems. Don Tucker, Chairman and Chief Executive Officer of EGI, commented: "Hitachi is at the forefront in the development of NIRS technology and we are delighted to be working with them in this field and marketing the ETG-4000 alongside our own devices." Donald Broomfield of Hitachi said: "EGI has a reputation as a leader in advanced neurodiagnostic technologies and a significant sales presence in the US neuroscience markets through their dEEG product range and we believe that they are the partner of choice to promote the ETG-4000 and market our products in parallel with their own."EGI's share price was up 2.32% to 132.50p at 09:03 on Wednesday.MF