Pursuant to the terms of the distribution agreement BodyTel granted FourMed the right to exclusively market the products of BodyTel in the eight Arabian countries, with the United Arab Emirates as its core market (the ‘Territory’), for a term of one year. FourMed is also responsible for all distribution, compliance and marketing costs relating to the sale of the products in the Territory.
Beginning in the first quarter of 2008, BodyTel’s new partner, FourMed Medical Supplies, intends to begin offering BodyTel’s blood glucose monitoring and diabetes management system, GlucoTel, as well as the PressureTel blood pressure device and the WeightTel weight scale, once available, )in the Territory.
Stefan Schraps, CEO of BodyTel, said: “Our products, together with FourMed’s impressive sales capabilities, have the potential to become the standard throughout the entire Middle East. We’re delighted with this new partnership.”