Published on June 25, 2012 at 12:44 PM
Vasomedical, Inc. a diversified medical technology company specializing in the design, manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products, today announces the amendment of the sales representative agreement between its subsidiary, Vaso Diagnostics Inc. d/b/a Vaso Healthcare and GE Healthcare, the healthcare business unit of GE (NYSE: GE), originally signed on May 19, 2010.
“The extension of the agreement is verification of the professionalism, dedication and performance of our VasoHealthcare sales team”
The amendment, effective July 1, 2012, extends the initial term of three years commencing July 1, 2010 to five years through June 30, 2015, subject to earlier termination under certain circumstances. Under the agreement, VasoHealthcare is the exclusive representative for the sale of select GE Healthcare Diagnostic Imaging products to specific market segments in the 48 contiguous states of the United States and the District of Columbia.
"The extension of the agreement is verification of the professionalism, dedication and performance of our VasoHealthcare sales team" commented Jun Ma, President and CEO of Vasomedical, Inc. "The start of the sales representation business two years ago is part of the diversification strategy of the company, which also includes our expanded international operations and new product lines. We continue to look for accretive acquisitions as well as other related opportunities in the medical device business, with the objective of enhancing our business and increasing shareholder value."