Agreement with Smiths Medical

1 Dec 2006 12:23

Inditherm PLC01 December 2006 Press Release 1 December 2006 Inditherm plc ("Inditherm" or "The Company") US Distributorship Agreement with Smiths Medical Critical Care Inditherm plc (AIM: IDM), the provider of innovative heating solutions to thefood, industrial process, utility, medical, construction and sport industries,has signed an exclusive distribution agreement with Smiths Medical CriticalCare, (a Division of Smiths Medical), to distribute Inditherm's patient warmingproducts in the USA. Smiths Medical is a division of Smiths Group plc (FTSE:SMIN.L). Under this agreement, which has a term of at least 3 years, Smiths Medical willsell Inditherm heated mattresses and blankets under their Level 1(R) brand nameto the US medical market. The Inditherm products complement Smiths Medicals'existing range and can be used in a variety of areas, including operating rooms,pre- and post- operative areas and intensive care units. Inditherm's patient warming products are based upon The Company's unique,patented, low voltage conductive polymer technology, which provides uniform,direct heating, resulting in much better thermal transfer performance andadvantages over traditional patient warming methods. Smiths Medical has a well-established market presence in the US patient warmingsector with a large sales team, directed at hospitals throughout the US. Underthe terms of the agreement, sales are targeted to reach up to US$5million in thethird year. Smiths Medical Critical Care has undertaken to place an immediate order forheating mattresses worth at least $275,000 for demonstration stock. These willbe used for sales training early in the New Year and for demonstrations to andevaluations by potential customers. Commenting on the agreement, Inditherm's CEO, Richard Harpum said: "This is amajor step forward for Inditherm and a solid endorsement of our patient warmingtechnology by a world leader in medical products. Smiths Medical makes anexcellent partner, as they have the capability to accelerate our entry into theUS market". As stated in the Company's interim results on 28th September this year, therehas been encouraging progress made across all of the Company's core businessareas, although additional funds are required to continue the development. TheBoard is pursuing various strategic options to secure such funding. - Ends - For further information contact: Inditherm plcRichard Harpum, CEO +44 (0) 1709 761000rharpum@indithermplc.com www.inditherm.comIan Smith, Finance Director +44 (0) 1709 761000ismith@indithermplc.comAbchurchJustin Heath +44 (0) 113 203 1340justin.heath@abchurch-group.com www.abchurch-group.com Editors' Notes Inditherm plc Inditherm plc is an AIM-listed provider of low voltage, cost-effective heatingtechnology. It manufactures, installs and licenses its specialised, patentedheating technology for use in numerous applications that require temperaturemaintenance or frost protection, including industrial, utility, medical,construction, and sports turf heating. The Rotherham-based company operates ina global environment and has a blue-chip customer base. Inditherm's technology uses a carbon-based, electrically conductive polymer,also called Inditherm, to produce a cost-effective, flexible and adaptableheating surface. Powered by a low voltage supply, Inditherm generates uniformheat over its entire surface with no hot spots. Inditherm received US Food & Drug Administration clearance for its patientwarming products In May 2006. Smiths Medical Smiths Medical, a division of Smiths Group plc (LSE: SMIN.L) is aclinically-focused global leader in the design, manufacture, and distribution ofmedical devices used for a variety of therapeutic, diagnostic, and surgicalprocedures. The company's portfolio includes airway management, pain management,temperature management systems, infusion systems, implantable access systems,safety I.V. catheters, critical care monitoring, and insulin delivery systems.This product range offers customers clinical and economical advantages backed byexperience, innovation, and value-added services, including extensive producttraining and support. For more information, please visit http://www.smiths-medical.com. This information is provided by RNS The company news service from the London Stock Exchange