(Alliance News) - EKF Diagnostics Holdings PLC said Tuesday it has signed a three-year distribution agreement with chemical and specialty materials firm Tosoh Corp for the Quo-Test HbA1c analyzer.
The point-of-care business's Quo-test is used to monitor and manage diabetes in a point-of-care setting, such as diabetes clinics and doctors' surgeries.
Under the agreement, Tosoh will distribute the analyzer in the Middle East and Africa, allowing both it and EKF to work in markets that they have previously been unable to access.
Following the initial three-year term, the agreement has a rolling one-year renewal with the option to extend the agreement into EU countries as required.
"We are delighted to partner with Tosoh Europe as they expand their need for Point-of-Care analysis in a time where those suffering from diabetes are at greater risk. This new agreement continues to strengthen the position of our core business and gives us the opportunity to move into new territories with a strong partner. We hope to build a successful working partnership with Tosoh Europe and look forward to extending the agreement into additional markets," said Chief Executive Officer Julian Baines.
Shares in EKF Diagnostics were up 3.2% at 42.00 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Ekf Diagnostics (EKF)