Covalon Technologies Inc. Announces Multi-year Agreement with Large Medical Distributor
Published: Jun 22, 2010
MISSISSAUGA, ON, June 22 /CNW/ - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSX-V: COV), an advanced medical technologies company, announced today that it has signed a multi-year agreement with one of the largest United States manufacturers and distributors of health care supplies and services ("Covalon's Client"). The agreement allows Covalon's Client to use Covalon's proprietary coating technology specifically on one of its products in return for an upfront payment of US$500,000 and future royalty payments. Covalon's Client provides products and services to hospitals, extended care facilities, surgery centers, home care dealers, home care agencies, physician offices and other alternate care sites.