This agreement marks the second European distribution agreement signed by the company for its MastaScope product line and includes minimum orders, which over the course of four years, are expected to generate $682.000 in sales, orders specifically without replacement Mastascopes.
"Although overall the Eastern European countries appear to be a small market in comparison to others, such as the United States, we believe it is one that has good potential to grow beyond our expectations", stated Carlo Micheletti, Lifeline's Director of International Sales and Marketing. He noted that the company was specifically conservative in negotiating minimum sales and that "we have reason to believe that these minimums will be easily surpassed during the four year period".
The MastaScope, launched earlier this year, is a micro-endoscope that allows physicians opportunity for early stage visualization of breast abnormalities in patients with nipple discharge, while at the same time providing the specific ability to remove questionable tissue samples for biopsy.
Vamstec, founded 13 years ago, is a marketing and sales organisation that services Croatia and other parts of the former Yugoslavia. The company also distributes a proprietary Clinical Image Management System (CIMS) to hospitals, physicians' offices and other clients in this geographic area.
Lifeline Biotechnologies Inc. is a company with innovative medical technologies committed to the improvement of the quality of life through exceptional health care systems. These technologies focus on prevention, early detection, diagnosis and quick recovery of a number of disease conditions. The company's two divisions, Orthopaedics Instruments and Cancer Detection technologies, each deal with cutting edge innovation to assist practising physicians to deliver quality medical care.
The MastaScope is used in the early detection of cancer and other abnormalities of the breast. The MastaScope has completed development and has entered the marketplace in the United States and internationally. The First Warning Systems for assisting in the early detection of breast cancer and the Ovarian Scope for assisting in the early detection of ovarian cancer are continuing to be developed by the company. The Orthopaedic division is the exclusive distributor for the Arthronet Shaver Blades in the United States, Canada and Mexico and also the exclusive distributor for the Inion bio-absorable screw for the United States and Canadian markets.