Dehaier Medical Systems Ltd. (NASDAQ: DHRM), a designer, developer and marketer of branded products in China, today, announced that it entered into a strategic cooperation agreement, sending the company’s shares sharply higher in trading today.
DHRM shares rose to an intra-day high of $3.95. The penny stock is currently trading 35.43% higher at $3.02 on above average volume of 435,915.
Dehaier Medical Systems signed a strategic cooperation agreement with Timesco of London Ltd., a progressive surgical and medical company in the U.K. As per the terms of agreement between the two companies, DHRM will serve as the exclusive distributor of Timesco’s entire laryngoscope Optima series of products in mainland China. The agreement was signed at the 67th China International Medical Equipment Fair in Shenzhen.
Ping Chen, President and CEO of Dehaier Medical Systems, said that DHRM has maintained a long-term and reliable partnership with Timesco since 2003 and the company is glad that Timesco has expressed their appreciation of DHRM’s product sales and market influence. Chen noted that Dehaier secured its competitive position through a strong and geographically diverse distribution network and DHRM expects a comprehensive cooperation with Timesco. He added that DHRM believes this will help enhance its corporate reputation and ultimately agreements such as this will return value for shareholders.
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