Eytan Halon of The Jerusalem Post reports that Tel Aviv-based Micromedic secures distribution deal with Chinese-based Shanghai Gensource Medical Applicances to more than 8,000 hospitals and medical centers. CEO Guy Lerner said “we are pleased by the first distribution agreement in China, a significant market for us, where 80,000 new cases of bladder cancer are discovered each year.”
Micromedic, founded in Israel in the 1980s, appears to be a microcap stock. TrialSite News research uncovers that annual revenues total only around $500,000 US and losses approximately $5 million; market capitalization just under $14 million and approximately $2.6 million cash. A review in LinkedIn points to under ten employees self-reported in that popular social network. Clearly, the Chinese distribution deal represents a major milestone for Micromedic. But note, its valuation is still more than 20X revenues.