Haifa, Israel, January 28, 2008 - MediGuide (Delaware, USA & Haifa, Israel) announced today that it has signed an agreement with Medtronic (NYSE: MDT) for co-development of medical positioning system- (MPS) enabled products. The agreement is based on providing Medtronic products with MediGuide's GPS-like (MPS) navigation capabilities to enhance various procedures.
The set of agreements includes co-development and an optional equity investment of Medtronic in MediGuide. The integration of the MediGuide MPS navigation technology into Medtronic tools is expected (subject to receipt of regulatory/clinical approvals) to enhance the physician's operation, as well as the procedure duration and outcome. This relationship enlarges MediGuide's portfolio of future products, together with its relationships with leading imaging and device companies.
“We are very excited about this relationship,” said Gera Strommer, president and CEO of MediGuide. “Medtronic is the world leading company in the field of implantable medical devices, and this agreement complies with our strategy to bring the best value solutions for our customers and partners and to bring our MPS technology to a wide range of applications.”
MediGuide (Delaware, USA & Haifa, Israel) - an Israeli based company, is the provider of technology, solutions and applications for intra body navigation and less invasive procedures with a special focus on cardiology. Based on its proprietary MPS technology, MediGuide brings the ability to navigate MPS Enabled Devices (catheters, wires and other devices equipped with a sub millimeter MPS sensor) in the MPS Ready Cathlab environment, co-developed by MediGuide in collaboration with the leading imaging companies. Further information can be found under: http://www.mediguide.co.il
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