The license agreement gives Freebit rights under MediStim’s patent to make, use and sell ear interface products falling outside MediStim’s core fields, the fields of medical equipment and healthcare products. The agreement is exclusive, worldwide and royalty- bearing. Commercial terms of the agreement are not disclosed.
“We are pleased to maximize the value of our IPR by exploiting opportunities in fields outside our core”, says MediStim President and CEO, Kari E. Krogstad. “By this agreement, we are able to commercialize our IPR within the consumer market for earphones, headsets and headphones. At the same time we retain all rights for use within the medical field.”
“Freebit is very pleased to have access to technology that complements our offering to our customers says Vidar Sandanger, CEO of Freebit. “We see a great need for international technology that helps make the user experience of earphones, and Bluetooth headset better. Consumers are often struggling with products that attach poorly and drop out of the ear. Other products on the other hand are stuck in the ear and causes pressure and discomfort. Together, we offer a complete solution to our customers. “
For more information, contact:
President & CEO, Kari E. Krogstad, MediStim ASA
Tel: + 47 918 38 110,
CFO Thomas Jakobsen, MediStim ASA
Tel: + 47 906 59 940,
CEO, Vidar Sandanger, Freebit AS
Tel: + 47 951 68 494,
MediStim is a Norwegian Medtech company listed on Oslo Stock Exchange (OSE:MEDI). The company is the world leader within development, manufacturing and sales of medical equipment for use in quality assessment of cardiac- and vascular surgery procedures.
Through the acquisition of Meditron AS in 2005, MediStim is also offering electronic stethoscope products, which are used by general practitioners as well as veterinaries.
MediStim was established in 1984, and has a track record of significant growth in both revenues and results through the last 10 years. The company is a pioneer within its segment, and continues to invest in new product development.
MediStim has wholly owned subsidiaries with sales organizations in the USA, Germany, Denmark and Norway, in addition to the around 50 distributors i Europe, Asia, Midle East, Africa and America.
Freebit has developed and patented a new type of ear interface technology used in commercial earphones, headsets and headphones. The products based on the company’s technology are more user friendly and jammed in the ear without causing consumer pressure or discomfort in the ear. The company’s customers are international manufacturers of earphones and mobile accessories. For more information about Freebit, go to the home www.freebit.eu.
For more information, visit the MediStim home page: www.medistim.com
This information is disclosed under Norwegian law (Verdipapirhandelloven §5-12).