TMS deal with Italian firm includes ownership stake

The Esaote Group, based in Italy, this week signed a partnership agreement with Salt Lake-based TechniScan Medical Systems Inc. that includes Esaote having a 20 percent stake in TMS.

Esaote produces medical imaging and diagnostic technologies. TMS provides ultrasound technology.

The deal involves sharing technologies and intellectual property, collaborating in the development of TMS's UltraSound product and cooperating in marketing.

Esaote's investment in TMS equity will be up to $9 million. Privately owned TMS has raised more than $16 million in equity financing and $4 million in federal grants during the past five years.

Esaote operates wholly owned subsidiaries in Holland, France, Germany, Spain, the U.S., Argentina, Brazil, China and India. It employs 1,200 people.