PLAINVIEW, NY / ACCESSWIRE / December 4, 2017 / Vaso Corporation (OTC PINK: VASO) (formerly Vasomedical, Inc.) today announces the amendment of the sales representation agreement between its subsidiary, Vaso Diagnostics, Inc. d/b/a VasoHealthcare, and GE Healthcare ("GEHC"), the healthcare business unit of General Electric Company (GE), originally signed on May 19, 2010.
The amendment extends the term of the original agreement, which began on July 1, 2010 and was previously extended in 2012 and 2015, through December 31, 2022, subject to earlier termination under certain circumstances, making it the longest extension thus far with a remaining term of five years from the end of this year. Under the agreement, VasoHealthcare is the exclusive representative for the sale of select GE Healthcare diagnostic imaging products to specific market segments/accounts in the 48 contiguous states of the United States and the District of Columbia.
"Vaso has become an integral part of GE Healthcare's U.S. diagnostic imaging strategy," said Lee Cooper, President and CEO of GE Healthcare. "We look forward to our continued collaboration. It's an exciting time for the healthcare industry."
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"This third extension of the representation agreement is a testament of the tremendous success and significant growth we have had with GEHC in the diagnostic imaging market in the last seven and a half years, thanks to the professionalism, dedication and performance of our VasoHealthcare leadership and sales team," commented Jun Ma, President and CEO of Vaso Corporation. "Along with our ongoing collaboration with GEHC Digital under a separate agreement for the sale, implementation, and service of its imaging IT products, this extension of our representation agreement for diagnostic imaging equipment further strengthens our long-lasting cooperative relationship with GEHC."
About Vaso Corporation
Vaso Corporation is a diversified medical technology company with three distinctive but related specialties: professional sales services for diagnostic imaging products; managed IT systems and services, including healthcare software solutions and network connectivity services; and the design, manufacture, and sale of proprietary medical devices.
The Company operates through three wholly owned subsidiaries. Vaso Diagnostics, Inc. d.b.a. VasoHealthcare (www.vasohealthcare.com), provides professional sales services and is the operating subsidiary for the exclusive sales representation of GE Healthcare diagnostic imaging products in certain market segments in the USA. VasoTechnology, Inc. provides network and IT services through two business units: VasoHealthcare IT Corp., a national value added reseller of healthcare software solutions and related services, including implementation, management and support, and NetWolves Network Services LLC (www.netwolves.com), a managed network services provider with an extensive, proprietary service platform to a broad base of customers. Vasomedical, Inc. (www.vasomedical.com), manages and coordinates the design, manufacture, sales, and services of proprietary medical devices including EECP® Therapy Systems, Biox® series ambulatory monitoring systems, and ARCS® series analysis and reporting software. The Company also owns overseas operations including China-based Biox Instruments Co. Ltd. and Life Enhancement Technology Limited and is the minority shareholder of VSK Medical Limited, a marketing and sales company for ECP products in the international market. Additional information is available on the Company's website at www.vasocorporation.com.
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