Bangalore, July 3, 2008: HD Medical Group, a global company with offices in India, USA and Australia has entered into a distribution agreement with BPL Limited for the distribution of its first pipeline product, ViScope 100. The distribution agreement is valued at $10 million (Rs.450 million approximately).

 

ViScope is an Audio-Visual Cardiac Screening device that enables doctors to Visulaize the heart sounds along with hearing them better. ViScope also enables the better detection of murmurs and other heart sound components so as to achieve a very effective screening of cardiac anomalies.

 

Mr Jay Jethwa, Managing Director and CEO of HD Medical Group said, “We are in the process of signing similar distribution agreements in other parts of the world.”

 

Mr A. Vijay Simha, Chief Operating Officer and Vice President of BPL Limited said, “The ViScope 100 represents the new paradigm in diagnosis of health for the masses, empowering physicians to diagnose with a greater degree of accuracy and efficiency. It is a true example of how advanced technology can potentially bring down the prevailing high costs of health care and make healthcare affordable to the millions”.

 

Mr. Damon Coffman, the global Chief Technology Officer of the company, said that the company would be introducing more advanced diagnostic products in Europe, US and Japan in the near future.

 

“The company has decided to undertake all its research and development in India as the human talent pool is very good here for all its R&D requirements. The company has strategic collaboration with many leading global institutions for clinical trials and technology validation”, said Mr. Arvind Thiagarajan, the chief inventor.

 

Mr B Ramakrishnan, CEO, Corporate Clinic, Chennai and the financial advisor of HD Medical Group said that the company had already raised in excess of $8 million towards development of the product.

 

HD Medical Group was founded in 2005 to commercialize its proprietary and patented heart sound technology. It has 14 patents pending and one patent that has already been granted in the field of cardiac auscultation.