Medical Australia signs agreement to supply Analytica technology to Concord Hospital

Medical Australia (ASX: MLA) has reached a significant milestone with the completion of a major clinical trial using Analytica's (ASX: ALT) AutoStart Burette infusion technology, and the signing of a supply agreement with a major Sydney hospital.

Today's announcement adds to a string of positive news for Medical Australia as it continues to collaborate with companies manufacturing highly commercial and innovative technology in the medical field.

The company is now forecasting sales revenue upwards of $500,000 per annum for the product based on the Concord Repatriation General Hospital's usage figures, and revenue will flow immediately from this agreement.

Medical Australia signed an agreement with Analytica over 12 months ago to commercialise its unique technology. The AutoStart Burette infusion set automatically restarts the delivery of intravenous fluid once the burette has dispensed its predetermined amount of liquid or drug, and is now in the stage of a full roll out at the Concord Hospital.

Concord is an award winning teaching hospital of Sydney Medical School at the University of Sydney and represents an excellent reference site for the ongoing commercialisation of this technology.

Significantly, the uptake of this technology by Concord hospital represents the first major change in clinical practice for the hospital in 16 years.

Medical Australia is also incorporating Analytica's flushing feature into their range of Tuta burettes, and this feature is gaining serious attention from major global medical device suppliers.

Automatic restart of the IV fluid, once the drug is dispensed can provide enormous savings in nursing time during and following a medication event, and substantially reduces clinical risks.

Analytica estimates that the AutoStart feature can save up to 20 minutes of nursing time, per patient, per day. When these savings are combined with the cost savings of the AutoFlush Feature, these technologies are well-placed to take a significant share of the global multi-billion dollar burette market.

Dr Michael Monsour, Analytica’s CEO, said “we have been working closely in partnership with Medical Australia for some time, and we are delighted now to see the fruits of our labour.

"Both the contract with the NSW Ambulance service and the recent successful completion of this major hospital trial and the resulting roll out are significant milestones for both Medical Australia and Analytica.

"Having the AutoStart Burette in use by the world respected Concord Hospital provides excellent credibility of the device to clinicians. We are looking forward to gaining further market share as exposure for our unique product offering expands."

The Analytica patented flushing system allows the needle-less injection port and the medication delivery syringe to be flushed with saline from the IV bag, without the need for additional flushing syringes or ampoules delivering substantial cost savings and infection control.

The uptake of the technology hospital wide shows that the increased clinical efficiencies and patient safety offered by the product are a safer more cost effective replacement for the currently used standard burettes.

Importantly, the AutoStart Burette is now expected to be rolled out to other major hospitals Australia wide.

On July 5 Medical Australia signed an exclusive Master Distribution Agreement with MediVet Pty Ltd (MediVet) for the United Kingdom market,  representing a significant new organic revenue growth opportunity for the company.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/17661/medical-australia-signs-agreement-to-supply-analytica-technology-to-concord-hospital--17661.html