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Sanch is back! OMI multi mill $ deal stock soars

  1. 117 Posts.
    Gday all , I have been hard at work in the US last few months, back now. Good to log on and see the top tags are still here.
    You all know how hard I've been pushing for awareness in regard OMI. Well along with the first major deal the stock has wized up 100%, don't sweet it , I've said all along that this is the next Coch.

    OCCUPATIONAL & MEDICAL INNOVATIONS LIMIT 2002-09-17 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    Logan based medical device company Occupational & Medical Innovations
    Limited (OMI) has entered into a multi-million dollar deal with one
    of the world's leading manufacturers and suppliers of medical
    products, which will see OMI's unique Needle Free Access Valve
    distributed throughout the world.

    In the most significant announcement since the company was founded,
    OMI has signed an exclusive Heads of Agreement with B Braun
    Australia. The five-year Agreement will see the OMI designed valve
    distributed to the domestic market initially, then throughout Asia,
    with the potential to expand into Europe and America.

    OMI Founder and Managing Director, Bruce Kiehne said the deal was
    tremendous news for the company.

    "B Braun is one of the largest and most respected medical companies
    in the world and this deal is a huge endorsement for OMI technology,"
    Mr Kiehne said.

    Valves are used in hospitals to reduce the number of needle sticks
    required in patient care. They can be attached to IV lines, catheters
    or other preferred sites, to allow drugs to be administered. The OMI
    valve is unique for a number of reasons: it has a flat surface and is
    easier to sterilise, it is compact in size and the valve is pressure
    positive, therefore preventing blood from clotting in the valve's
    chamber.

    The other distinguishing feature is the valve contains only three
    parts and is cost effective to manufacture. The OMI valves will
    initially be manufactured off shore.

    Managing Director of B Braun Australia and South Pacific, David
    Crawford, said this is the first time the company has purchased
    Australian technology.

    "We were very excited when we saw the OMI valve, because we believe
    it is superior to any valves currently on the market," Mr Crawford
    said.

    B Braun was founded over 165 years ago in Germany and is one of the
    largest manufacturers and suppliers to international health care
    markets. The company has made numerous pioneering developments in
    health care, has over 28,000 employees in 50 countries and a turnover
    in excess of 2.6 billion Euro.

    Mr Crawford said B Braun had agreed to purchase not less than 4
    million units of the OMI Needle Free Access Valve per year.

    The worldwide market for valves is huge, currently estimated at over
    one hundred million units per year in the United States alone.
    However, this figure is tipped to rapidly increase, as more countries
    embrace needle free technology.

    "Valves are already used extensively in the United States and
    Australia, but the technology is not widely used in Europe and Asia
    and we see huge potential for growth in these markets," Mr Crawford
    said.

    The Agreement is subject to completion of satisfactory clinical
    trials and finalisation of a number of other terms.

    OMI has also designed an automatically retracting syringe and a
    safety scalpel and has international patents on both designs. The
    scalpel, which comes with a unique blade guard, has been subjected to
    trials in the United States. The interest generated from these trials
    has prompted the company to apply for approval from the US regulatory
    body, the Food and Drug Administration (FDA).

    "There is intense interest coming from the United States for the
    scalpel and we are currently involved in negotiations with a number
    of companies," Mr Kiehne said.

    "Our next objective will be to focus on the automatic retracting
    syringe and see it introduced to the global market."

    B Kiehne
    MANAGING DIRECTOR


 
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