LifeHealthcare strikes cardiology agreement with Biosensors

THE ROADHOUSE PHARMACY: LifeHealthcare Group Limited (ASX:LHC) has entered into an exclusive agreement with Biosensors Interventional Technologies Pte Ltd to distribute its range of interventional cardiology products in Australia for an initial term of two years.

LifeHealthcare said the deal marks the company’s entry into the interventional cardiology market, leveraging its existing strength in Cardiac Ultrasound.

Biosensors Interventional Technologies is a subsidiary of Biosensors International Group Ltd, the fourth largest interventional cardiology device company globally.

LifeHealthcare said Biosensors was among the first to recognise the potential clinical benefits offered by incorporating biodegradable polymer technology into drug-eluting stents (DES).

Biosensors product portfolio includes Drug-Eluding Stents, Bare Metal Stents, Balloon Dilatation Catheter and Drug Coated Stent products sold primarily to Interventional Cardiologists.

“Leveraging from our strength in Cardiac Ultrasound, we have been searching for the right partner and entry into the interventional cardiology market for some time.

“We are therefore thrilled to have Biosensors as our partner in this space,” LifeHealthcare chief executive officer Daren McKennay said in the company’s announcement to the Australian securities Exchange.

“We look forward to working with the Biosensors team to build market share in this important strategic product range for both companies, and extending our reach into the Australian medical device market.

“We are focussed on leveraging our existing and proven business model into new growth areas.

“This new agreement represents one of a number of potential step change growth projects and I am pleased to see this strategic milestone achieved.”

With all key products listed on the Australian Register of Therapeutic Goods and the Prosthesis List, the agreement is planned for immediate implementation in late FY14.

Website: www.lifehealthcare.com.au