Hewlett-Packard Company (Palo Alto, CA) and Diametrics Medical, Inc. (St. Paul, MN) announced that HP has signed an exclusive worldwide agreement to market, sell and distribute Diametrics' Paratrend and Neotrend continuous blood-gas monitoring systems and the IRMA SL point-of-care blood-testing system.
Under the terms of the agreement, Diametrics will transfer responsibility for marketing, sales and distribution for these products to HP, with the transfer to be completed by Nov. 1. Diametrics' products will be sold through HP's patient-monitoring sales force, and a network of distributors and dealers (excluding countries where existing agreements take precedence). The initial term of the agreement is three and a half years, with the option for extensions, according to a press release.
As part of the agreement, HP will commit to minimum product sales, market development and product royalty payments. The two companies will fund joint R&D efforts for new product development for the continuous monitoring and for intermittent-testing product lines.
Paratrend and Neotrend are said to be the only FDA-cleared multiparameter intra-arterial sensors on the market that provide continuous monitoring of blood gases in critically ill adult, pediatric and neonatal patients. A fiber-optic sensor is placed in the radial, femoral or umbilical artery to continuously measure acidity, carbon dioxide, and oxygen levels and temperature.
The IRMA SL System Series 2000 portable blood-testing system provides results for a number of time-critical tests performed at the patient's bedside, including blood gases, electrolytes, hematocrit and glucose. Glucose testing is provided using the Lifescan SureStep-Pro Blood Glucose Module. All test results are provided on-screen in about 90 seconds, according to the release.