Natus Medical in agreement with GN Otometrics
Natus Medical (San Carlos, California) reported the signing of a new five-year marketing and distribution agreement with GN Otometrics, a subsidiary of GN Store Nord (Taastrup, Denmark). GN Otometrics will market and distribute Natus' newly acquired line of hearing screening devices from the company's recent acquisition of Fischer-Zoth Diagnosesysteme.. This product line will be marketed in more than 50 countries under the AccuScreen brand name. In addition, GN Otometrics will distribute Natus' line of ALGO Newborn Hearing Screeners in some countries.
Jim Hawkins, president and CEO of Natus, said, “We are very pleased to begin our new relationship with GN Otometrics, a leading provider of products and services to audiologists and ENT professionals. We believe that this partnership will contribute to continued growth of international sales for our hearing screening products.“
Osteotech in processing agreement changes
Osteotech (Eatontown, New Jersey) said it has been notified that the previously announced acquisition by the Musculoskeletal Transplant Foundation (MTF; Edison, New Jersey) of the allograft tissue banking operations of the American Red Cross (ARC; Washington) was completed on Jan. 25. As a result, the previously announced agreement between Osteotech and ARC terminating the processing agreement between the parties, and Osteotech's second processing agreement with MTF, are now effective.
In accordance with the terms of the processing agreement with MTF, MTF will provide Osteotech a certain amount of standard donors for processing equivalent to the amount of standard donors to be delivered to Osteotech by ARC under the terms of the previous processing agreement with ARC.
This agreement has an initial term that expires in December 2006 and can be extended for two additional one-year periods if certain conditions contained are met.
pSivida securities registration declared effective
pSivida Ltd. (Perth, Australia), a global nanotechnology company, reported that its U.S. securities registration has been declared effective and it has received preliminary approval from Nasdaq for listing its American Depository Shares (ADSs) represented by American Depository Receipts (ADRs) on the Nasdaq National Market. It also said it has selected Citigroup as its depository bank to administer the ADR program.
pSivida expected its ADSs to commence trading on Nasdaq's National Market on Thursday under the ticker symbol PSDV. The ADSs will trade on a 10:1 ratio to the company's ordinary shares (10 pSivida shares for every one ADR). PSivida's ordinary shares will continue to trade on both the Australian and Frankfurt stock exchanges.
Biomet to introduce Cobalt bone cement in U.S.
Biomet (Warsaw, Indiana) said that it will broaden the range of its internally developed and manufactured bone cement product offering. Cobalt, which was specifically developed for use in minimally invasive surgery, will be introduced in the U.S. toward the end of 2005.
Biomet said the “handling characteristics and high optical contrast of Cobalt are well suited to the current trends in orthopedic surgery.“ Offered with and without antibiotic, Cobalt will be marketed in conjunction with Biomet's Optivac bone cement delivery system.
In an effort to reduce continued dependence on its relationship with Heraeus Kulzer GmbH, an external supplier of certain bone cements for Biomet, the company initiated the development of its own advanced cement systems in order to remain a market leader in the bone cement and accessories product category.