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News Breaks | | | | December 26, 2012 | | 09:59 EDT |  | VOLC | Volcano enters supply agreement with Santec
Volcano Corporation disclosed in a regulatory filing that it has entered into a supply agreement under which Santec will supply Volcano with scanning lasers for use in Volcano's optical coherence tomography, or OCT, systems. Under the terms of the agreement, Santec will be responsible for manufacturing the lasers in accordance with Santec's specifications and agreed-upon quality standards. Volcano will initially purchase approximately $1.9M worth of lasers, which Volcano will pre-pay within 30 days of the date of the agreement. Volcano has agreed to purchase annual and/or life-of-contract minimum quantities of the lasers, which depending upon the timing and quantity of the purchases, will range from approximately $7.3M to approximately $9.4M over a three-year period. Unless earlier terminated, the agreement will be effective through March 31, 2016. | |
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