June 7, 2020 / 12:30 PM / a month ago

Israeli tech firm to sell $32.4 mln in medical watches in India

JERUSALEM, June 7 (Reuters) - Israel’s CardiacSense said on Sunday it signed a $32.4 million deal to sell medical watches in India, bringing its total backlog of orders to over $60 million.

The company said the agreement is for 150,000 watches - which can monitor vital signs like temperature, blood pressure and blood oxygen saturation - to be used in hospitals, home hospitalizations and patient monitoring.

The deal with Explore Lifestyle Solutions, a manufacturer and distributor of medical rehabilitation products operating in India, will be carried out over the next four years, CardiacSense said in a statement.

The company said it is also in the process of receiving FDA and CEO regulatory approvals for marketing in the United States and Europe. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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