The medical devices space has grown by leaps and bounds in recent times and there are now plenty of options for investors who may be interested in the sector. One of the companies that you could consider tracking this morning is IR-MED Inc (OTCMKTS:IRME), which is involved in the manufacturing of non-invasive detection devices for real-time detection.
Trading Data
On Tuesday, IRME stock gained 3.31% to $1.2500 with 1.99K shares, compared to volume of 66 shares. The stock moved within a range of $1.2500 – 1.2500 after opening trade at $1.2500.
IR-Med Signs Agreement for the Commercial Design of the PressureSafe Device
Yesterday, the company made an announcement with regards to the fact that its fully owned subsidiary unit IR-MED Ltd had inked an agreement with the Israel-based industrial designing company Bina Industrial Design Ltd for making the commercial design of the device named PressureSafe.
The device is being developed by IR-MED for the purpose of detecting pressure-related injuries at an early stage. As per the terms of the agreement between the two parties, the whole thing is going to be focused on the design of the device in its advanced stage.
Bina Industrial Design is regarded as a boutique industrial design company and is a specialist in the designing of diagnostic products and medical devices. It was a major new announcement from the company and one that could help in accelerating the development of the product.
Key Quote
Yoram Drucker, Vice President, Business Development and a Director, stated “the agreement with the industrial design company is an additional step in the advancement of the development of the PressureSafe device. Bina Industrial Design brings many years’ of experience in designing commercial-grade medical devices and we expect that their efforts will assist IR-MED in bringing to the market the optimal device for detecting early-stage pressure injuries.
