ADDvise Group AB's (publ) subsidiary Surgical Tables Inc (STI) has entered into an agreement with one of the world's three largest medtech companies with a value of approximately 7,2 MSEK, meaning that STI will produce the newly developed surgical table for spinal fusion procedures. STI has received a first suborder within the framework of the agreement to a value of approximately 2,6 MSEK.
Spinal fusion is a surgical technique that joins two or more vertebrae in order to reduce back pain. The newly developed surgical table shortens the operating time, reduces pain for the patient and reduces the risk of infection.
- The agreement is a recognition for STI, where we take a newly developed product for production together with one of the world's three largest medtech companies, says Rikard Akhtarzand, CEO of ADDvise Group.
The agreement is a new agreement between the parties but a continuation of a previous cooperation. Revenue from the agreement of approximately 7,2 MSEK will be distributed over 2019 and 2020. Delivery of the first suborder for the surgical tables will take place during Q3 2019.
For further information, please contact:
Rikard Akhtarzand, CEO
+46 765-25 90 71
This information is by ADDvise Group AB required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on January 21st 2019, 11:30 CET.
About ADDvise Group
ADDvise Group AB (publ) is a leading supplier of equipment to healthcare and research facilities. The group consists of approximately 10 subsidiaries organized into two business areas, Lab and Healthcare. Sales are global. The Group has a clear acquisition strategy with the aim of raising shareholder value and expand the business – both geographically and product wise. ADDvise Group’s shares are listed on Nasdaq First North and Mangold Fondkommission AB, +46 8 503 015 50, CA@mangold.se, is the Company's Certified Adviser. Additional information is available at www.addvisegroup.com