Cardiovascular pharmaceutical company Medicure Inc (TSXV:MPH)(OTC:MCUJF) on Monday announced an agreement for the immediate exclusive marketing of Sensible Medical Innovations Inc's ReDS point of care system (ReDS) in the US cardiovascular market.

The company said ReDS is a non-invasive, US FDA-cleared medical device that provides an accurate, actionable and absolute measurement of lung fluid which is important in the management of congestive heart failure. The lung fluid measurements are used in guiding treatment and monitoring a heart failure patient's condition and may lead to a significant decrease in readmissions and hospital costs.

In conjunction, the clinical studies have shown an 87% reduction in heart failure readmission rates for patients using the ReDS system at home for three months post-discharge versus those who were treated with usual care alone, added the company.

As part of the agreement, Medicure will receive a percentage of total US sales revenue of the the ReDS system and must meet minimum annual sales quotas. The company will market the device through its existing commercial organisation.

Concurrently, Medicure has invested USD10.0m in Sensible for a 7.71% equity stake on a fully diluted basis, under which, Medicure's president and CEO, Dr Albert D Friesen, has been elected to Sensible's board.