Cardiac monitoring solutions provider LifeWatch has signed an agreement with China Telecom for the sale of medical smartphones, a segment with a potential market value of $400 million over the next five years.
LifeWatch is a leading provider of wireless cardiac monitoring services in the US and will provide its LifeWatch V medical smartphone – and subsequent versions – for distribution throughout China by China Telecom.
Under the deal, LifeWatch is guaranteed a minimum purchase volume over the next five years,, while in return China Telecom is granted exclusive marketing rights throughout China.
“This fits perfectly into our strategy to provide value added services to our premium clients,” said Johnny Lee, Appstore operation director of China Telecom. “This is really a win-win opportunity for both partners.”
LifeWatch is based in Israel but the company is listed in Switzerland. Its main market is the US, where it is a leading provider of wireless cardiac monitoring services.