The marketing and distribution agreement between Vital Images Inc. and Toshiba Medical Systems Corp. is going so well that the companies have decided to go one better.
For the last three years, Toshiba has offered Vital Images' Vitrea 2 software with its Toshiba Aquilion and Asteon CT scanners in more than 50 nations worldwide, except Japan.
The new agreement includes a minimum worldwide revenue commitment from Toshiba of approximately $7.7 million, effective through Dec. 31, 2004. It can be renewed with the mutual consent of Vital Images and Toshiba.
For the first nine months of 2003, Toshiba contributed revenues of $9.8 million, or 45 percent of revenue, compared with $5.5 million, or 37 percent of revenue, for the first nine months of 2002. Vital Images is expected to set to release its year-end 2003 results in February 2004.