Dehaier Medical Signs a Strategic Cooperation Agreement With WideMed
May 20 2013 - 7:30AM
Dehaier Medical Systems Ltd. (Nasdaq:DHRM)
("Dehaier" or the "Company"), an emerging leader in the
development, assembly, marketing and sale of medical devices and
homecare medical products, today announced that it entered into a
strategic cooperation agreement with WideMed Ltd. (TASE:WDMD), a
leading Israeli company engaged in the research, development and
sale of innovative products for the growing bio-medical signal
diagnostics and treatment market, to become WideMed's exclusive
partner in China to market the Morpheus Ox System, a
cost-effective, portable home sleep diagnostic and monitoring
solution which enables to diagnose sleep disorders using a standard
oximeter recording plethysmograph signal. The Signing Ceremony of
Cooperation has been hold on May 20, 2013 and invited Mr. Matan
Vilnai, The Israeli Ambassador to China, and also officials from
Changping District of Beijing City to attend the ceremony.
Dehaier will cooperate with WideMed to develop a new type
watch-size device, which is designed to be integrated into existing
Morpheus Ox platform. By collecting and recording the physiological
data from the patients who wear watch-size device at home, the
advanced automatic sleep scoring software is able to generate an
accurate and reliable sleep study diagnosis, including Apnea
Hypopnea Index (AHI), sleep/wake, and Cheyne-Stokes breathing. The
new generation Morpheus Ox is going to be a comprehensive platform
which manages a cost-effective sleep services operation, including
patient electronic medical record, cardiac and sleep diagnostics
outcomes and a complete workflow management.
The web based automatic scoring and data management is able to
facilitate operational efficiency and maximize growth potential, by
way of providing its users valuable & timely clinical
information to improve patient treatment. Moreover, it could also
function as an enhanced Electronic Medical Record (EMR) clinical
Database for hospitals. The system has passed the FDA and CE
certificate, and is being prepared for SFDA registration.
Mr. Matan Vilnai, The Israeli Ambassador to China, gave the
speech in the signing ceremony and he quoted, "This partnership
between WideMed; an Israeli company with great innovative
capabilities and Dehaier Medical; a specialized Chinese company
with great developing and manufacturing capabilities, is the
perfect example of the kind of cooperation that we, in the state of
Israel, encourage and support."
Mr. Ping Chen, Chairman and Chief Executive Officer of Dehaier
Medical also commented in the signing ceremony, "In China, there is
a huge potential for sleep disorder and diagnosis market, but the
lack of cohesive product and solution has caused the slow
acceptance from Chinese consumers and healthcare providers. We
believe that the introduction of Morpheus Ox could change that as
Morpheus Ox leads to a close relationship among patients, doctors
and hospitals and it will establish a sustainable market. We are
confident that the state-of-the-art system would be an innovative
success in domestic sleep diagnosis market going forward."
About Dehaier Medical Systems
Ltd.
Dehaier is an emerging leader in the development, assembly,
marketing and sale of medical products, including respiratory and
oxygen homecare medical products. The company develops and
assembles its own branded medical devices and homecare medical
products from third-party components. The company also distributes
products designed and manufactured by other companies, including
medical devices from IMD (Italy), Welch Allyn (USA), HEYER
(Germany), Timesco (UK), eVent Medical (US) and JMS (Japan).
Dehaier's technology is based on six patents, nine software
copyrights and proprietary technology. More information may be
found at http://www.dehaier.com.cn
About WideMed Ltd
WideMed is a leading company in the growing bio-medical signal
diagnostics and treatment market. Leveraging its innovative signal
processing algorithms, the company offers comprehensive signal
analysis and workflow management services and solutions to the fast
Ever since the introduction of Morpheus® - the world's first
FDA-cleared computer –aided sleep scoring solution. WideMed is
continuously bringing major technological breakthroughs to the
sleep clinical market.
Forward-looking Statements
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events, government approvals
or performance, and underlying assumptions and other statements
that are other than statements of historical facts, including in
particular any implications regarding the implementation of the
ultrasound machine procurement agreement. These statements are
subject to uncertainties and risks including, but not limited to,
product and service demand and acceptance, changes in technology,
economic conditions, the impact of competition and pricing,
government regulation, future developments in payment for and
demand for medical equipment and services, implementation of and
performance under the joint venture agreement by all parties, and
other risks contained in reports filed by the company with the
Securities and Exchange Commission. All such forward-looking
statements, whether written or oral, and whether made by or on
behalf of the company, are expressly qualified by the cautionary
statements and any other cautionary statements which may accompany
the forward-looking statements. In addition, the company disclaims
any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
CONTACT: Dehaier Medical Systems Limited
Surie Liu
+86 10-5166-0080
lius@dehaier.com.cn
Dehaier Medical Systems Limited
Tina He
+86 10-5166-0080
hexw@dehaier.com.cn
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