NEW YORK, April 8, 2011 /PRNewswire/ — Biofield Corp. (OTC
Pink: BZEC) announced today that its 51% owned subsidiary, Sky
Unicorn Holdings Ltd., has engaged McKinley Infocapital as its
exclusive distributor in Korea for its flagship product, the
Biofield Breast Diagnostic System (BDS). McKinley
Infocapital, an international business consulting and investment
management firm, has formed MacKay Life Sciences Korea to market
and promote the BDS in Korea.
The agreement provides for an initial purchase order in the
amount of $660,000, and it further provides for an initial deposit
of $330,000 on that first order. The terms also include a total
minimum order of $900,000 for the first year of the engagement. The
duration of the agreement features a term of four years from the
effective date. If the annual minimum purchase volume requirements
are met, the total potential value of the agreement is $15.3
million over that timeframe, although, to date, no payments have
been made or received under the agreement. The conditions and
terms of the distribution agreement are subject, in all respects,
to the BDS obtaining the approval of the Korea FDA for import and
sale of the product in Korea.
At the signing ceremony for the exclusive distribution
agreement, McKinley Infocapital President, Mr. Halen Bach,
expressed, “McKinley Infocapital is very excited to have achieved
this milestone and looks forward to expanding the penetration of
the MacKay Life Science BDS in both Korea and other Asian Countries
where it operates with a large network of corporate clients.”
After patient trials were conducted earlier this year in Korea
at the CHA Hospital and the Seoul National University Hospital,
Biofield President David Hong was thrilled with the positive
feedback that was received from the surgeons and physicians that
participated in or observed the patient trials. Participating
experts expressed that the BDS “is a significant break-through in
enabling c
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