Both Misonix and Ekrior will share the fee for use revenue for the length of the agreement plus any extension periods. Procedure minimums for fee per use revenue are part of the agreement.
Misonix is pleased to partner with Ekrior Lda to provide prostate HIFU to hospitals in Portugal. Ekrior’s strategy of introducing advanced alternate treatment modalities to underserved markets is synergetic to our own approach, said Michael A. McManus, Jr., president and chief executive officer of Misonix. Ekrior’s commitment to the mobile ‘fee for service’ business segment makes them a particularly appealing distribution partner, whose market strengths blend well with Misonix’s business strategy for HIFU.