TIRAT CARMEL, Israel (GLOBE NEWSWIRE) — D. Medical
Industries Ltd., announced today that its subsidiaries, Spring Health Solutions
Ltd. and Spring Set Health Solutions Ltd., have received the first payment
pursuant to the previously reported worldwide original equipment manufacturer
agreement with Twobiens Ltd., a leading South Korea-based supplier of diabetes
treatment and drug delivery products, for the worldwide distribution of its
Spring Universal(TM) Detach Detect Infusion Sets under Twobiens’ private label.
The Agreement is for a term of three years and contains
annual sales targets and minimum order quantities estimated at a total of US$ 5
Million. The first payment made by Twobiens represents one-third of the cost
for customization as indicated in the Agreement.
Efri Argaman, D. Medical’s Chief Executive Officer,
commented, “Receipt of this first payment under the Twobien’s worldwide
OEM agreement marks an important milestone for the initiation of this
relationship. We continue to work closely together toward the full rollout of
this exciting new partnership.”
About the Spring Universal Infusion Set
The Spring Universal Infusion Set is compatible with most insulin pumps
currently available on the market. Going beyond the minimum requirements of
subcutaneous drug delivery, the Spring Universal offers best-in-class features
such as a hidden, auto-retractable needle, 360 degree connector, and smallest
one-click, all-in-one inserter.
The core of the Spring Universal Infusion Set is the
proprietary Detach-Detect mechanism. In the case the base of the infusion set
detaches from the user’s body, a blocking mechanism is triggered which, in
turn, creates an occlusion. This evokes an occlusion alarm in an insulin pump.
This unique feature enables exceptional reliability for continuously controlled
and monitored insulin delivery, providing additional safety and peace of mind –
especially for athletes and the parents of pediatric patients.
About D. Medical
D. Medical is a medical device company engaged through its subsidiaries in the
research, development, manufacture and sale of innovative products for diabetes
treatment and drug delivery. D. Medical has developed durable and
semi-disposable insulin pumps, which continuously infuse insulin into a
patient’s body, using its proprietary spring-based delivery technology. D.
Medical believes that its spring-based delivery mechanism is cost-effective
compared to the motor and gear train mechanisms that drive competitive insulin
pumps and also allows it to incorporate certain advantageous functions and
design features in its insulin pumps. D. Medical has also developed an infusion
set for insulin pumps and is focusing its research and development efforts on
the development of next generation insulin pumps and a device that will combine
a continuous glucose monitoring system and an insulin pump on the same patch.
For more information, please visit http://www.dmedicalindustries.com
(corporate) and http://www.springnow.com
(healthcare professionals, patients and care givers).
About Twobiens
Twobiens specializes in comprehensive diabetes medical devices and disposables,
and is committed to improve the quality of lives of people with diabetes.
Twobiens supplies various kinds of insulin pumps and disposables such as
infusion sets, insulin pen needles and insulin syringes. For more information,
please visit http://twobiens.com/eng/main.html.
