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Bethel Finance news:
Flowsense Medical Ltd. (TASE: FLSN) has signed a five-year cooperation agreement with Philips Healthcare to adapt its URINFLO 2000 device to Philips' monitors to display a patient's urine output with other medical parameters.
The agreement involves no payment by Philips Healthcare to Flowsense, or vice versa, nor a marketing agreement of finished products. For Flowsense, the main advantage is a continuous flow of data by its device to doctors.
Flowsense's sales rose to NIS 179,000 in January-September 2011 from NIS 125,000 in the corresponding period of 2010. FlowSense CEO Robert Bash said, "These are the sales we expected at this stage. 2011 is a year for building infrastructure."
Flowsense has NIS 500,000 in cash and its auditor attached a going concern warning to the company's financial report. The company reached an investment agreement of NIS 750,000-3 million with Trendlines International Ltd. at NIS 0.09 per share. Trendlines has meanwhile given the company a NIS 500,000 credit line.
Flowsense's share price rose 6.5% by mid-afternoon today to NIS 0.0082, giving a market cap of NIS 21 million.
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