Shares of TS03 (TSX:TOS) are climbing today after the company announced it had signed a letter of intent with Getinge Infection Control AB, a division of Sweden’s Getinge Group, to market TSO3’s Sterizone sterilizers to health care and life science facilities through Getinge’s sales and service channel.
Sterizone is an ozone and hydrogen peroxide sterilizer designed for terminal sterilization of heat and moisture-sensitive medical devices.
TS03 CEO Ric Rumble said: “We are pleased with our discussions with Getinge,” adding “Getinge is the hospitals’ preferred partner and supplier of equipment and service for instrument sterilization globally. We believe that our proven technology and product have global appeal, and we look forward to reaching an agreement where there is a worldwide balanced approach benefiting both Getinge and TSO3.”
This story is brought to you by Agrimarine (TSXV:FSH). Not all salmon farms are the same. Click here to learn how Agrimarine is meeting consumer demand for sustainable aquaculture.
Founded in 1998, Quebec City’s TS03 got its start developing a sterilization process that used ozone as its sole agent. In 2008, with an injection of new talent, the company set about producing a next-generation sterilizer that would be compatible with a wider range of expensive and high-demand complex medical devices, as TS03′s original ozone product, which had limited device-compatibility and a long sterilization cycle, was a poor seller. The company’s more recent efforts have attracted a major partner in 3M, and the new 3M™ Optreoz™ 125-Z Sterilizer, is being received well in Canada and other markets. The United States, however, remains a major target for the company.
Getinge, which was founded in 1904, is the world’s largest provider of infection prevention solutions with 31 subsidiaries on six continents, and over 230 distributors and partner companies in sales and service representing Getinge Infection Control.
At press time, shares of TS03 were up 19% to $1.25.