StockerYale Inks Biomed Deal

StockerYale Inc. announced it has signed its largest biomedical contract to date, a multimillion-dollar deal to supply medical device maker Boston Scientific Corp. with optical assemblies for medical applications. Specific financial terms of the contract were not disclosed.

StockerYale makes structured light lasers, LED modules and specialty optical assemblies for industrial OEMs, medical and defense markets. It said the agreement with Boston Scientific underscores its strategy to apply its products and technical expertise to faster-growing markets, such as the medical/bioinstrumentation market.

The deal also comes on the heels of an intense collaboration between the two companies to develop a higher performance line of unique optical assembly products. The resulting assembly has significantly better performance and is more reliable, the companies said. Production will begin this quarter at StockerYale's Salem manufacturing facility.

"...this contract represents an important milestone for StockerYale, reinforcing the capabilities of our specialty optical assembly business, of which we are the one of the last remaining, independent providers. We are currently working on several other projects with Boston Scientific and look forward to a long and mutually beneficial relationship," said Mark W. Blodgett, chairman & CEO of StockerYale.

For more information, visit: www.stockeryale.com or www.bostonscientific.com