Flying Brands Limited StoneChecker signs agreement with Korea ISG (7562G)
06 March 2018 - 6:00PM
UK Regulatory
TIDMFBDU
RNS Number : 7562G
Flying Brands Limited
06 March 2018
Flying Brands PLC
("Flying Brands" or the "Company")
StoneChecker Software Limited signs an Exclusive Marketing and
Distributor Agreement for the commercialisation of StoneChecker
software in South Korea with Korea Computer Motion ISG
Flying Brands PLC (AIM: FBDU), the medical services and software
company, is pleased to announce that its subsidiary StoneChecker
Software Ltd ("SC") has signed an Exclusive Marketing and
Distributor arrangement with Korea Computer Motion ISG ("Korea
ISG") based in Seoul, South Korea, for sales and distribution of
its StoneChecker(R) Kidney Stone analysis software
("StoneChecker").
StoneChecker will be used by hospitals, imaging and urology
centres for diagnosing and assessing kidney stones, on non-contrast
CT scans, in the clinical setting in South Korea.
The incidence of kidney stone disease is on the rise in South
Korea. It is estimated that out of a total population of
approximately 51 million people, there are about 300,000 new cases
of kidney stone disease each year. The Board of Flying Brands
consider that by utilising the StoneChecker software, a significant
portion of the estimated US $50million spent on conducting failed
lithotripsies in South Korea each year, could be saved.
Mr Nick Stevens, CEO of StoneChecker said "We are pleased to
sign this significant Distributorship agreement with Korea ISG to
support the expansion of StoneChecker in the rapidly growing and
important South Korean medical imaging market. We are confident
that by working with an experienced team led by the CEO Jacob Woo,
who has a great understanding of the market and customer base, we
stand to increase StoneChecker's revenue potential, market reach
and meet our customers' needs."
Mr Jacob Woo, CEO of Korea ISG commented, "We are pleased to
have started to work with SC this year to promote the innovative
StoneChecker kidney-stone analysis software on CT in South Korea
which addresses a big gap in the urology-radiology market and has
great clinical utility. StoneChecker is already attracting a lot of
interest amongst the top university hospitals around the world and
in South Korea (potential-customers). I anticipate a very
successful business relationship and rapidly increasing
StoneChecker software sales. Our team has a first-class reputation
amongst radiologists and clinicians in the region, and offers
unrivalled in-depth market-access and know-how in South Korea."
About Stone Checker Software Ltd.
Stone Checker Software Ltd is owned by Flying Brands PLC, based
in Chilcompton, Radstock, UK. SC focusses on the development and
supply of advanced kidney stone analysis software - StoneChecker,
for analysis of renal calculi and for easy interpretation of
imaging data.
The StoneChecker Software uses sophisticated statistical
techniques to make detailed analyses of kidney stones. The software
produces a series of important data in a quick and efficient way to
describe key clinical stone variables such as stone volume and
measures of stone heterogeneity.
About Korea Motion ISG
Korea ISG has installed and supported MRI/CT 3D processing
imaging software to about 120 prominent Korean hospitals for 23
years, and a prominent medical imaging software distribution (sales
and service/support) company in South Korea. They are experienced
distributors of medical software from other world leading
suppliers, with a wide customer base.
The Directors of the Company accept responsibility for the
contents of this announcement.
For further information, please contact:
Flying Brands Limited
Qu Li/Trevor Brown/Vinod Kaushal
Tel: 020 7469 0930
Peterhouse Corporate Finance
(Financial Adviser and Broker)
Lucy Williams/Heena Karani
Tel: 020 7220 9797
-Ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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