Sydney - Tuesday - March 13: (RWE Aust Business News) - BrainZ Instruments (ASX:BZI) has extended its current distribution agreement with GE Healthcare, covering the distribution of the BrainZ product line which is focused around the BRM2 neonatal brain monitor. The agreement has been expanded to include seven new Asian countries including India and Korea. BrainZ and GE Healthcare have also agreed to extend the current agreement for a further 19 months through to October 2008. "The expansion of the GE agreement into Asian markets will assist in the further globalisation of the BrainZ technology, thereby improving the care of newborn babies' brains in more centres around the world," chief executive Justin Vaughan said. He said the company indicated in December 2006 that US sales had under-performed against expectations. "While the US sales funnel remains significant, and the prospects bright, conversions from the funnel into sales have been below expectations during this financial period, and we are working closely with GE on strategies to improve sales in the US," Dr Vaughan said.
BZI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
