Remote Monitored Systems (LON: RMS) shares have surged on Thursday after the company announced a distribution agreement between its subsidiary, Pharm 2 Farm, and Vivek Kohli Enterprises.
Vivek is based in Uttar Pradesh, India, and is part of the Stag International Group, founded in 1922 and has a strong presence within the healthcare sector.
The deal will see Vivek distribute Pharm 2 Farm's's anti-viral mask in India under the Pro-Larva brand name.
Vivek has placed an initial order for 350,000 Pro-Larva masks to be airfreighted direct to their distribution centre, after which they will then be distributed via retail and commercial medical networks.
RMS said part of the proceeds from the order will be invested by Pharm 2 Farm into a marketing campaign in India to support Vivek and build demand for the mask, which is hoped will lead to increasing repeat orders.
Antony Legge, Executive Chairman of RMS, said: “India represents a significant opportunity for our Pro Larva anti-viral mask and we are pleased to be partnering with Stag Global.
“Whilst this agreement represents an initial modest number of masks, the Company is in discussions with a number of Indian businesses regarding distribution agreements for the Pro-Lava mask and hopes to be announcing further positive news flow in the near term. This deal will help to strengthen P2F's position as a provider of anti-viral masks within the global healthcare market.”
Remote Monitored Systems share price jumped to highs of 1.25p at the open. it is currently trading at 1.059p, up 21%.
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