Covalon signs development agreement with CareFusion

Covalon Technologies, an advanced medical products company, has entered into a development agreement with CareFusion, the new specialty products company recently spun off by Cardinal Health.

The development agreement provides that Covalon will be paid to use its technology platform and development expertise to develop and design a process that meets CareFusion's specifications.

William Jackson, chief business officer, CFO and co-founder of Covalon, said: "This is an exciting project for Covalon because we are utilizing our patented technology platform to architect a completely new and exciting application for CareFusion. Approximately $25 million has been spent to develop Covalon's medical technology platforms.

"This agreement is an example of how Covalon offers its advanced medical technologies and application expertise to its customers at a fraction of the cost of what it would take for them to build it from scratch."

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