Valence and Graham-Field Health Products Enter Agreement

Aug 4, 2004 10:24 AM
Edited by PETech Staff

Valence Technology Inc., developer of Saphion technology, a large format Li-ion rechargeable battery technology, has signed an agreement granting GF Health Products Inc., a manufacturer and distributor of healthcare products, the exclusive right to resell Valence’s U-Charge Power System, a Saphion technology based motive power system, in the power wheelchair and medical scooter markets.

Valence and Graham-Field will jointly develop a U-Charge Power System specific to the power wheelchair and medical scooter markets. Under the terms of the agreement, Valence will produce and Graham-Field will purchase these U-Charge systems. Valence has granted Graham-Field the exclusive right to resell U-Charge Power Systems in the power wheelchair and medical scooter markets in the United States and its territories for three years. This exclusivity is conditioned upon achieving specified quarterly volume targets totaling $20 million in system purchases during the term. Additionally, under the agreement Graham-Field will provide sales and marketing, technical assistance and customer support functions.

“One of the major challenges of powered mobility is the power supply. With Valence’s Saphion technology, we can improve the performance and reduce the weight of a power wheelchair or scooter,” said Irwin Selinger, president and CEO of Graham-Field.

The U-Charge Power System is a family of Li-ion energy storage systems that offers twice the run-time, requires little to no maintenance, and delivers greater energy density, better reliability, longer life and more safety at a lower cost of ownership than lead-acid batteries.

For more information, visit www.valence.com.

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