PhotoMedex, Inc. (Nasdaq:PHMD) announced that the Company has received from AMICO Group, its distributor in the Middle East, a multi-million dollar order to purchase XTRAC laser systems that will be installed in hospitals throughout the Kingdom of Saudi Arabia. The order includes customary terms and conditions, including advanced payments and letters of credit covering the purchase order. Delivery is expected to be in the third and fourth quarters of this year. GlobalMed Technologies, the Company's master distribution partner, will facilitate the logistics associated with the deployment of the XTRAC systems under the purchase order, throughout the Saudi market.
Dennis McGrath, the President and CEO of PhotoMedex stated: "AMICO has been an excellent business partner distributing our laser systems throughout the Middle East for more than 10 years. This order, resulting from a competitive government tender, once again affirms that our Company's XTRAC laser system is recognized around the world as the best in class technology for the therapeutic treatment of psoriasis and vitiligo."