Wavefront imaging company, Iatia Limited (ASX:IAT) is delighted to announce the signing of a new partnership agreement with General Electric Healthcare UK Limited (GEHC).

Over the last few years Iatia has developed a strong business relationship with GEHC, allowing GEHC to integrate Iatia's wavefront imaging technology (QPI) into GEHC's INCell instrument, through the purchase of individual licences. GEHC and Iatia now wish to forge a longer-term relationship, with GEHC having decided to integrate Iatia's technology as a standard feature in its INCell instrument and examine incorporation into other GEHC products.

This agreement allows GEHC to integrate Iatia's technology into all of its instrumentation and software systems, granting GEHC a worldwide, non-exclusive license to make and sell "QPI" integrated GEHC products.

The agreement provides for joint product development and joint marketing in the life sciences markets, and Iatia stands to gain significant market recognition via GEHC's sales, marketing and promotional activities. The life sciences market is expected to enjoy major growth in the next decade. GEHC have forecast that contract volumes will triple over the next four years. The agreement is for three years with automatic annual renewals for up to a total of 8 years.

Charles Laycock, Iatia's CEO said, "We are thrilled to have secured this agreement with GEHC and believe that Iatia stands to enjoy a substantial financial return as a result. Over the next 12 months we are concentrating on closing additional agreements similar to this one in order to build and strengthen Iatia's capital structure."