Bomed Medical Signs 3-Year Distribution Pact
Bomed Medical Manufacturing Ltd. in Irvine, a high-tech medical instruments maker, has signed a three-year distribution agreement with Tri-Med Inc. of Minneapolis. The contract, which Bomed said is worth $1 million to $2 million, calls for Tri-Med to market Bomed products in Minnesota, North and South Dakota, Nebraska, Wisconsin and Iowa.
Separately, Bomed president Hevka Sramek said she estimates her company will post a net loss of about $400,000 when its current fiscal year ends Nov. 30. Revenues for the first three quarters of the fiscal year were $750,000. Sramek said the anticipated loss will occur because the company is using its own revenues to complete the research and development on a $500,000-NASA contract which calls for Bomed to create a device to monitor astronauts’ vital signs in space. She said NASA eventually would reimburse the company.
With the Tri-Med contract and its expansion of Bomed’s market, Sramek said she hopes for “at least break-even†next year.
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