Stainless steel manufacturer, Mercer Group, says it has entered into licensing arrangements for its S-Clave technology with a large North American corporation involved in the medical sector.
The S-Clave technology is a break through sterilization process that allows items to be sterilized inside a non-porous bag and then sealed so that the items can be stored safely without contamination.
Mercer has a number of international patents issued and pending around this technology.
Mercer will receive $US700,000 as an up-front payment, plus further payments of at least $US1 million after three years.
It estimates the North American sterilization market to be $US1.8 billion per annum.
