AdvanSource Biomaterials Corporation (OTC Markets OTCQB: ASNB), a leading developer of advanced polymer materials for a broad range of medical devices, today announced it has entered into a multi-year supply agreement with an international medical diagnostics device company engaged in the business of developing medical device coatings and developing, manufacturing and selling coated medical devices.
Khristine Carroll, AdvanSource's SVP of Commercial Operations, stated, "We are very pleased with this opportunity to expand our commercial relationship and partnership with this client through our hydrophilic materials product portfolio. This agreement further emphasizes the growing recognition and importance of offering specifically targeted materials to optimize end-product characteristics. We continue to aggressively market our technology and capabilities; and are optimistic and proud of the medical device industry's recognition and support of the benefits of our advanced biomaterials and services."
This new agreement, which is effective this calendar year, represents a new addition to AdvanSource's portfolio of multi-year supply agreements, providing for minimum annual purchases.
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