KUALA LUMPUR (March 27): Electronics manufacturing services (EMS) company K-One Technology Bhd (KL:K1) has secured an exclusive four-year deal with UK-based CIGA Healthcare to distribute the latter's fertility and healthcare test kits in Malaysia via its wholly owned subsidiary, K-One Wellness Sdn Bhd.

The agreement will automatically renew for successive one-year periods, provided agreed annual targets are met, according to K-One Technology's bourse filing on Thursday.

Under the deal, CIGA will provide up to 5% of K-One Wellness's annual revenue from the sale of the products to co-fund K-One Wellness' marketing efforts.

The agreement also sets a projected minimum invoiced business volume of US$75,000 (RM332,381) for the first two years following the initial product delivery, with future targets to be agreed upon through mutual negotiations.

CIGA Healthcare, established in 2005 and based in Ballymena, Northern Ireland, is a British manufacturer specialising in rapid diagnostic tests, particularly lateral flow assays — devices used to detect the presence of a target substance in a liquid sample. It produces over-the-counter and professional diagnostic tools under the "Suresign" brand and through OEM partnerships.

K-One Wellness, incorporated in 2005, specialises in developing, manufacturing, trading and distributing healthcare consumables, hygiene products and medical devices.

K-One Technology’s shares closed half a sen or 3.7% higher at 14 sen on Thursday, valuing the group at RM116 million.