Bittium’s ECG devices head Stateside in sizable deal
Bittium Biosignals, a subsidiary of Bittium Corporation, has landed a deal with a major US remote monitoring provider worth up to 17 million euros.
Under the three-year supply agreement, Bittium Biosignals will deliver Bittium Faros 360 and customised Bittium Faros 360 cardiac ECG signal measuring and monitoring devices to the unnamed US monitoring provider. The deal also includes disposable electrodes for attaching the Bittium Faros ECG devices.
The total value of the agreement, if fully materialised, is approximately 17 million euros. It includes exclusive distribution rights for the devices in the US and product customisation work, and also enables development co-operation between the parties.
“The agreement is a very important expansion for Bittium in the competitive and growing healthcare technology export market,” says Hannu Huttunen, CEO of Bittium Corporation. “Bittium has the potential to grow into a major manufacturer and supplier for ambulatory ECG monitoring devices in the US.”
The Bittium Faros 360 has already secured FDA regulatory approval in the US, while Bittium will be responsible for the FDA approval of its customised version of the device.