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Observe Medical announces LOI with Medical Imaging Company to explore Strategic Partnership for Biim Ultrasound
29th July, 2024
Back to News
29th July, 2024
Observe Medical announced on 29 July 2024 a non-binding Letter of Intent ("LOI") to explore a strategic partnership with a leading American medical imaging company (the "Partner Company"). The potential strategic partnership will contain a joint effort to develop and market handheld ultrasound-based solutions for the dialysis market and explore a potential distribution partnership within the EU.
The Partner Company specializes in portable medical imaging solutions, backed by top-tier American Venture Capital and Investment Managers. Their portfolio includes ultrasound devices, device-agnostic workflow software, and AI-based analysis tools for various medical applications. This partnership aims to
leverage these technologies with Observe Medical’s Biim ultrasound technology, with a particular focus on supporting the existing Fresenius contract opportunity.
The LOI signifies a shared interest in leveraging both companies’ expertise and technologies. This involves joint development efforts in the dialysis market, a revenue-sharing agreement based on net sales of solutions, and potential exploration of a distribution partnership within the EU. Final terms of any definitive agreement will be subject to due diligence and further negotiations.
“Observe Medical is enthusiastic about the potential of this collaboration to deliver a powerful solution for Fresenius Medical Care and potentially expand our reach to other dialysis providers. We believe that by combining Observe Medical’s and Biim’s expertise with the Partner Company’s innovative ultrasound
technology, we can create a best-in-class solution for the dialysis market,” said Jørgen Mann, Interim CEO of Observe Medical.