Israel's Cardiacsense, which develops and markets a wearable watch-like device for scanning arrhythmia, has signed an exclusive distribution agreement valued at $7.5 million to distribute the company's medical wristwatches in the United Arab Emirates.
This UAE deal is the 10th distribution agreement that Cardiacsense has signed since March 2020, bringing the total value of the agreements signed to more than $70 million.
Cardiacsense is moving forward on FDA approval for the medical watch following a successful clinical trial which showed the device to be more than 99% effective in identifying arrhythmia, while the regulatory requirement for receiving FDA approval stands at 96%.
