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news.Mediwatch plc (Mediwatch), a nephrology and urology devices company, has signed a five-year agreement for the worldwide distribution of PSAwatch, its flagship point-of-care total PSA measuring system for prostate cancer, with Inverness Medical Innovations, Inc. (Inverness Medical), an in vitro diagnostics compan.
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Philip Stimpson, Mediwatch chief executive commented’
“We are confident that this strategically important distribution agreement will deliver a significant revenue stream. The market for point of care diagnostics is growing rapidly as a result of a combination of; the population aging, growth of local clinics, home testing and the need for faster, cheaper, more portable and easier to use medical equipment.
“This is a significant development for Mediwatch as it means we can both actively promote worldwide the early diagnosis of prostate cancer, with portable rapid-testing equipment. This is particularly poignant and gratifying for us, being a British company, as this is Prostate Cancer Awareness Month in the UK.”