StockerYale to supply optical assemblies under multimillion-dollar biomedical deal
January 8, 2009--StockerYale, Inc. (Salem, NH) has announced its largest biomedical contract to date--a supply agreement with Boston Scientific, worldwide developer, manufacturer of medical devices whose products are used in many interventional medical specialties. The agreement calls for StockerYale to supply optical assemblies to Boston Scientific for various medical and surgical applications. The deal represents an effort to leverage StockerYale's IP into fast-growing markets.
January 8, 2009--StockerYale, Inc. (Salem, NH) has announced its largest biomedical contract to date--a supply agreement with Boston Scientific Corp., worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties. The agreement calls for StockerYale to supply optical assemblies to for various medical applications. Financial terms were not disclosed.
The signing of the agreement follows a period of intense collaborative efforts by both parties to develop a higher-performance family of unique optical assembly products, with each company leveraging its proven technical and application expertise. StockerYale's expertise in optical assembly design created an assembly with significant improvements in performance and reliability, the company says. Production will commence this quarter at StockerYale's NH-based manufacturing facility.
"This agreement clearly underscores the execution of our strategy to leverage core intellectual property and technical expertise and apply it to faster-growing markets; and in this circumstance, our continued focus and penetration of the medical/bio-instrumentation market," said Mark W. Blodgett, Chairman & CEO of StockerYale "Furthermore, this contract represents an important milestone for StockerYale, reinforcing the capabilities of our specialty optical assembly business, of which we are the one of the last remaining, independent providers. We are currently working on several other projects with Boston Scientific and look forward to a long and mutually beneficial relationship."
StockerYale, Inc. designs and manufactures structured light lasers, LED modules and specialty optical assemblies for industrial OEMs, medical and defense markets. Find out more about the company on StockerYale's website.
Posted by Barbara G. Goode, firstname.lastname@example.org.