Nicholas Investment Company, Inc. today announced that its subsidiary, SINO UJE, Ltd., has entered into a Letter of Intent with Inter Medical GmbH, a medical software and hardware company based in Germany, to form a joint venture company to expand the market and availability of Inter Medical's imaging products in China.
Terms of the initial agreement include the intent to form a Wholly-Owned Foreign Enterprise (WOFE), which will immediately sell and service Inter Medical's imaging products for the medical industry. The new enterprise plans to expand the operation to assembly and manufacturing within a 1-3 year timeframe. SINO UJE is currently the exclusive distributor of Inter Medical's products and services in China, including Inter Medical's unique upgrade packages for existing gamma cameras.
Nicholas Investment Company, Inc. is a business development company that has acquired 100% of Javelin Holdings, Inc., a small business consulting firm, and 95% of SINO UJE, a non-stocking distributor that sells and services western manufactured high-tech products to markets throughout China.