October 26, 2007 - 3M and Zargis Medical Corp., a spin-off from Siemens Corporate Research and a majority-owned subsidiary of Speedus Corp. recently announced a multi-year marketing agreement involving Zargis' heart sound analysis software and 3M Littmann's next-generation electronic stethoscope.
Under the agreement, Zargis will support 3M in its efforts to develop a next-generation stethoscope that will be compatible with Zargis' heart sound analysis software. The date on which Zargis' software will become available for use with a Littmann stethoscope has not yet been announced.
In addition, the alliance provides Zargis with a wide-range of marketing and promotional opportunities along with exclusive rights to sell its heart sound analysis software through the global distribution network of the Littmann brand. The agreement grants 3M a minority equity position in Zargis, following the first sale of Zargis' software through the 3M distribution channel, and a seat on Zargis' board of directors.