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D. Medical Receives First Payment Pursuant to Worldwide OEM Agreement for Spring Universal(TM) Detach Detect Infusion Sets

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D. Medical Industries Ltd. (Nasdaq: DMED) announced today that its subsidiaries, Spring Health Solutions Ltd. and Spring Set Health Solutions Ltd. (collectively, "Spring Health"), have received the first payment pursuant to the previously reported worldwide original equipment manufacturer ("OEM") agreement (the "Agreement") with Twobiens Ltd., a leading South Korea-based supplier of diabetes treatment and drug delivery products, for the worldwide distribution of its Spring Universal™ Detach Detect Infusion Sets under Twobiens' private label.

The Agreement is for a term of three years and contains annual sales targets and minimum order quantities estimated at a total of US$ 5 Million. The first payment made by Twobiens represents one-third of the cost for customization as indicated in the Agreement.

 

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