QUEBEC (CP) - Medical Intelligence Technologies (TSXV:MIZ) has signed a letter of intent with European mobile telephony designer and distributor ModeLabs to expand the sales market of its locating and medical assistance bracelet for Alzheimer's patients.
The Quebec company said Wednesday its French subsidiary Medical Mobile will collaborate with ModeLabs to sell phone bracelet to France's major mobile telephone distribution networks.
Financial terms of the deal were not disclosed.
The geopositioning phone bracelet is designed to prevent disappearance among Alzheimer's patients due to problems of wandering and straying associated with the disease.
Shares in Medical Intelligence gained four cents to 60 cents in morning trading on the TSX Venture Exchange.
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