MOU signed with Ministry of Health for export order of 25 - 30 MetaMizers to Sri Lanka
Healthcare solutions company MediVac Limited [ASX: MDV] today announced that it has signed a Memorandum of Understanding through its Sri Lankan distributor CME Medical Pty Ltd with the Sri Lanka Ministry of Health to establish "Clinical Waste Management Systems in the Needy Hospitals in Sri Lanka", which could lead to the sale of up to 30 Metamizers.
The MOU was pursued at the invitation of a senior Sri Lankan government review committee Standing Cabinet Appointed Review Committee ("SCARC") following that committee's acceptance that a conceptual proposal based upon the Metamizer 240 SSS presented by CME Medical Pty Ltd, was beneficial for the economic development of Sri Lanka.
The MOU is for CME Medical to prepare a final proposal for the supply, installation and operation of medical waste disposal systems to 30 hospitals in Sri Lanka. CME will work in collaboration with Medivac and its local partner, Biomed International, in the venture.
The preparation of the final proposal is well advanced and will be submitted to the Sri Lankan Ministry early in 2011. The project is subject to entering into final contractual and funding arrangements.
Executive Chairman of MediVac, Mr Paul McPherson, has just returned from Colombo and says the project will involve the sale of at least 25 possibly as many as 30 new generation MetaMizer 240 SSS devices.
"This project is by far the most significant in the history of MediVac and validates the significant investment of our shareholders in this unique technology," he said. "The project would, with the supply of spares and ancillary equipment, provide revenue in excess of A$15 million to the company. We look forward to working with the Sri Lankan Ministry of Health, CME Medical and Biomed to finalise and implement this project."
The Company reminds shareholders that its Share Purchase Plan closes on January 7, 2010.
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