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medical monitors big day today

  1. coming out of preopen after this announcment....


    Medical Monitors in US licensing deal; trading halt lifted
    18:59, Wednesday, 31 March 2004

    Sydney - Wednesday - March 31: (RWE) - Medical Monitors Ltd has
    signed a memorandum of understanding with an established US investment
    group.
    Medical Monitors has granted exclusive licensing rights in the
    Americas and the EU (including the UK) for its ECG and blood pressure
    monitoring technologies.
    An ECG monitoring service will be established in these
    territories, and will include device promotion and sales.
    A new US sales and service company will be created for this
    licensing agreement, and Medical Monitors will retain a major ownership
    of that company.
    Medical Monitors will receive a royalty fee based on revenues
    generated, and management fees for the provision of technical services.
    It will also be contracted for the manufacture of the ECG
    recorders and BPfone monitors to the new company on an agreed profit
    margin basis.
    Directors emphasised that this US venture would not require any
    further funding commitment from Medical Monitors, and would result in
    significant cost savings.
    Shares in Medical Monitors have been in trading halt for two days
    pending this announcement.



    ========================

    MDM signs with USA Investment Group for USA and Europian expansion of ECG AND Blood Pressure Technologies.

    *MDM advises that an MOU has been signed with an established USA Investment Group.

    *MDM has granted exclusive licensing rights for the Americas and the European Union (including the UK)
    An ECG monitoring service will be established in these territories, and will include device promotion and sales.

    *The Directors wish to emphasise that the US venture will not require any future funding from MDM.

    *The company has announced has identified , and is in advanced negotiations with, a highly experienced sales and marketing team in the US that will rapidly advance the monitoring business plan in the second quarter 2004.

    *The us market for ambulatory ECG monitoring services is highly profitable and is estimated to be in excess of USD$150 million per annum.

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