Cardiovascular Sciences has reached a partnership agreement with Medical Technologies Enterprises of Palm Harbor, Fla.
"Initially, there will be an economy resulting from sharing many of the administrative operations of the two companies. Second, it gives us a retail presence in the marketplace and on the web. It is seldom that a company, at this stage in the development of its primary medical technology, has a revenue generating retail market presence,” explained Larry Hooper, MD, CEO of Cardiovascular Sciences.
Both companies said the partnership represents and the likely beneficial impact it will have, not just on the near term financials, but also in the longer term as it allows for an equity-sparing stepping up the pace of development of Cardiovascular Sciences's anti-adhesion technology and allows Medical Technologies Enterprise’s access to and early entry into markets with needs addressed by the technology and other related technologies, according to the Orlando-based Cardiovascular Sciences.