- dorsaVi (DVL) extends its master services agreement (MSA) with medical technology and services provider Medtronic by six months
- The parties signed an initial 12-month agreement in March
- The extension will allow for further optimisation of DVL’s medical-grade sensor technology by building on insights gathered so far
- While the original MSA was valued at around US$330,000 (A$446,500), the six-month addition tacks on roughly US$171,000 (A$231,000)
- dorsaVi shares have closed flat at 2.6 cents on August 5
dorsaVi (DVL) has extended its agreement with medical technology and services provider Medtronic for a further six months.
DVL develops innovative motion analysis devices for use in clinical applications, elite sports, and occupational health and safety.
The parties solidified their commercial relationship through an initial master services agreement (MSA) signed back in March, following an evaluation deal made in December last year.
The companies agreed to analyse data on patients wearing dorsaVi medical-grade sensors over an initial 12-month period.
To this end, the six-month extension is said to be worth roughly US$171,000 (A$231,000) on top of the MSA’s original value in the realm of US$330,000 (A$446,500).
Accordingly, DVL said the longer deal aimed to further optimise its technology by building on the insights gathered from the MSA so far.
dorsaVi CEO Andrew Ronchi said the extension of the agreement was a testament to the hard work of his team and was a strong validation of DVL’s world-leading technology.
“This agreement further highlights the different potential uses of our technology, exploring new applications and potential partnerships to deliver shareholder value,” Dr Ronchi said.
DVL’s partner Medtronic is headquartered in Dublin and has operations in 150 countries worldwide. The company is focussed on alleviating pain, restoring health and extending life for millions of people around the world.
dorsaVi shares closed flat at 2.6 cents on August 5.