OR-YEHUDA, Israel, Sept. 15 -- Optomedic Medical Technologies Ltd. reported that KMC Systems Inc. has notified Optomedic that KMC has terminated its manufacturing and distribution agreement. The agreement licensed KMC Systems to manufacture and market the PenduLaser in North America.
Alex Harel, chairman of Optomedic, said, Although KMC systems constantly provided Optomedic with sales forecasts for 1998-99, it failed to achieve any PenduLaser sales in 1998 and 1999 in North America. This fact was a big disappointment to us, and caused us serious cash flow problems. Optomedic plans to commence the search for a new US marketing partner immediately.